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Voucher Homeownership Report

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From: HUD USER News
A Picture of the Voucher
Homeownership Program
A new two-volume report by the Department of Housing and Urban Development’s Office of Policy Development and Research, Voucher Homeownership Study, provides a national snapshot of the Housing Choice Voucher Homeownership program and its many successes. This is one of HUD’s most important initiatives, in that the program’s homeownership option allows public housing authorities (PHAs) to provide voucher assistance to low-income, first-time homebuyers.

The vouchers can be used for monthly homeownership expenses, rather than for monthly rental payments. Since the first voucher homeownership programs began in 1999, the number of public housing agencies implementing the program has grown exponentially – from 12 pilot sites to over 450 today. In like manner, the number of homeowners has increased from less than 100 households at the outset to 5,000 households as of June 7, 2006. Combined with the Family Self Sufficiency and Moving to Work programs (not analyzed in this study), HUD has helped 8,000 families achieve homeownership as of June 7, 2006.
This report is essential reading for PHAs and others interested in increasing homeownership among low-income and minority households. The characteristics and outcomes of voucher homeownership programs are described through in-depth case study assessments of 10 selected sites operating particularly active or note-worthy programs. A survey was also conducted of more than 200 PHAs that have reported at least one VHO purchase. Topics covered in Volume 1 of this report include program planning and design, financing homeownership, characteristics of VHO purchasers and their neighborhoods, characteristics of housing markets in VHO communities, and the relationship between program & market factors and the rate of home purchases. Volume 2 presents case studies.
The report is available as a free download online at https://www.huduser.gov/portal/publications/homeown/
voucherhomeown.html. Although limited copies will be available in print for a nominal charge by calling 1-800-245-2691, we encourage you to download the Voucher Homeownership Study free of charge on the Policy Development and Research website, www.huduser.gov.

Interested readers may also wish to obtain copies of the Voucher Homeownership Program Assessment, Volumes 1 and 2, available at https://www.huduser.gov/portal/publications/hsgfin/msd_vol1_vol2.html or by calling the number shown above.
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