Open The Books Says $460 Billion HUD Spending Failed to Narrow Housing Affordability Gaps
Updated
Updated · Fox News · Aug 18
Open The Books Says $460 Billion HUD Spending Failed to Narrow Housing Affordability Gaps
3 articles · Updated · Fox News · Aug 18
Summary
$460 billion in HUD spending across 18 programs from 2015 to 2024 showed virtually no linear link to better state affordability outcomes, according to Open The Books.
Every state saw home prices rise faster than median household incomes over that decade; 48 states posted double-digit affordability gaps and 17 exceeded 50 percentage points.
Open The Books built the gap by subtracting income growth from each state’s FHFA home-price growth, then argued local zoning, regulation and supply constraints matter more than federal spending.
HUD responded by highlighting the Trump administration’s deregulation push, a claimed $495 million in uncovered fraud and help for more than 1 million Americans to achieve homeownership.
The findings add to broader pressure on would-be buyers: national household income rose 99.7% from 2000 to 2024 while single-family home prices climbed 150.1%, and the median first-time buyer age reached 40.