The agency took a series of steps to make manufactured homes, often excluded from neighborhoods and loan programs, more accessible and affordable.
A new set of policies from the U.S. Department of Housing and Urban Development (HUD) is aimed at supporting residents of manufactured housing as one approach to boosting the affordable housing supply.
A new grant program, the Preservation and Reinvestment Initiative for Community Enhancement (PRICE) Program, offers $225 million for preserving and revitalizing manufactured housing. “To support the financing of individual manufactured homes titled as personal property, HUD is also announcing an important update to FHA’s Title I Manufactured Home Loan Program” that will change how loan limits are calculated.
According to a HUD press release, “Earlier this year HUD published a proposed rule for the Community Development Block Grant (CDBG) program that emphasized the importance of considering the needs of manufactured housing communities during local planning processes. HUD also recently updated the CDBG in Support of Housing Activities notice to clarify that communities may use CDBG funds for acquisition of manufactured housing units, services to homeowners of manufactured housing units, and investments in infrastructure and resilience for manufactured housing communities.”
Read the full story: HUD Announces New Actions to Support Affordability for Manufactured Homes and Communities as Part of the Biden-Harris Administration’s Housing Supply Action Plan
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