Department of Housing and Urban Development

The Department of Housing and Urban Development’s (HUD) overall mission is to provide rental housing assistance to low- and moderate-income families, increase homeownership opportunities, support community development, and enforce the nation’s fair housing laws.

In recent years, the nation’s housing sector has faced major challenges that threaten the financial security and well-being of millions of American families. 

• Foreclosure rates for home mortgages have soared to record levels, and the resulting turmoil in the credit markets has severely limited financing options for homeowners and developers of multifamily rental housing. 
• The number of very low-income renters with severe housing cost burdens has significantly increased, while the supply of low-cost housing has declined.
• Areas affected by major natural disasters such as Hurricanes Katrina and Rita continue to struggle with serious housing shortages and community development issues.