News
Jennifer Emerling / There Is More Work To Be Done
Jennifer Emerling / There Is More Work To Be Done
HAC News: October 30, 2025
TOP STORIES
Rent aid steady for November, then uncertain
The National Housing Conference has compiled information on the federal government shutdown’s impact on a range of sources of housing and community development funding. Both HUD and USDA have indicated that, despite the shutdown, they have enough funding to cover rental assistance programs for the month of November. HAC led an effort by several stakeholders who are asking USDA RD to communicate with multifamily owners and managers about Section 521 Rental Assistance, operations, transactions, and the like.
How is the shutdown affecting you?
HAC would like to compile information about the shutdown’s impact on the rural communities, organizations, homeowners, and renters who rely on federal housing support. Please let us know about your situation in an email to hac@ruralhome.org.
Judge broadens ban on shutdown layoffs
Expanding the limitations on “reduction in force” layoffs during the shutdown, on October 28 a federal judge replaced an October 15 temporary restraining order with a preliminary injunction that will last indefinitely. Federal agencies may not enforce the RIFs already issued during the shutdown or issue additional RIFs in programs, projects, or activities where workers are represented by the unions that brought the suit. Several unions have joined the suit, which was originally brought by just two of them. The order covers large parts of the federal government, including USDA, HUD, and the Treasury Department.
RuralSTAT
Over the 20 years since Hurricane Katrina, high-population counties and parishes on the Gulf Coast have experienced the greatest dollar losses from disasters. Yet smaller counties and parishes in Louisiana and Mississippi – such as Cameron, Plaquemines, St. Bernard, and Hancock – have the highest per capita losses, exceeding $150,000 per person in 2024 dollars. Source: Urban Institute, Disasters and the Gulf Coast, 20 Years after Hurricane Katrina.
Missing Census data during the shutdown? Visit Rural Data Central. We have data for suburban and urban communities too!
CAPITOL HILL
Members of Congress, bankers, and others support CDFI Fund
The CDFI Fund has received strong support after reports that the administration sent layoff notices to the agency’s entire remaining staff. More than 100 Republican Senators and Representatives, spearheaded by Sen. Mike Crapo (R-ID) and Rep. Young Kim (R-CA), signed a letter to the Treasury Department and OMB emphasizing CDFIs’ “important role in supporting economic development in rural, tribal and other underserved communities.” Similar letters were sent by 120 House Democrats, by seven bankers associations, and by Native CDFIs, Tribal Nations, and their partners.
REGULATIONS AND FEDERAL AGENCIES
OMB tells agencies to increase deregulation
An October 21 memo from the Office of Management and Budget reminds federal agencies that President Trump has instructed them to repeal regulations “without notice and comment” if possible. “To date,” the OMB Memo states, “agencies do not appear to be fully maximizing their energy in carrying out these directives.” It explains some ways for agencies to approach deregulation, including presuming that required government-to-government consultations with Tribes or state and local governments can take place through the standard publication of requests for comments.
HUD changes effective date for parts of HOME regulation
HUD has further extended the effective date of portions of its January 2025 HOME regulation. Rather than October 30, 2025, parts of the rule will now be effective on April 30, 2026.
Farm Service Administration local offices reopen
USDA is opening about 2,100 FSA offices to enable farmers to access assistance programs, although local USDA Rural Development field offices remain closed. The department took similar action during the 2018-2019 government shutdown.
PUBLICATIONS AND MEDIA
Research identifies Opportunity Zones lessons
Two new Urban Institute analyses using data on Ohio’s state-level Opportunity Zones program confirm previous findings on the national OZ program. The Geographic Spread of Opportunity Zone Capital points out that – before the July 2025 program changes to support rural places – the tax incentive did not draw investment to all designated OZs; rural areas and small cities received less support than large cities. Insights into Opportunity Zone Project Types reports that Ohio’s program supported residential real estate more than other kinds of development but the housing it produced was not necessarily affordable. When users did develop affordable housing, they combined the OZ incentive with other resources such as Low-Income Housing Tax Credits or the HOME program.
Nationwide home prices now five times higher than median incomes
According to a blog post by Harvard’s Joint Center for Housing Studies, home prices continued to outpace incomes in many large markets across the country last year. After a minor drop in 2023, home price-to-income ratios continued to rise in 2024 to match high post-pandemic levels. The article includes interactive graphics that illustrate affordability changes in the largest metropolitan areas across the country from 1980 to 2024.
Resources compiled on residual insurance programs
Insurance for Good provides a resources page with information about residual insurance from state or federal programs, which fills gaps when homeowners cannot find or afford insurance in the private market. These programs take a variety of forms, including earthquake insurance in California and the now-expired National Flood Insurance Program.
Brief explains role of federal funds in capital stack for assisted rental housing
Essential Funding for Essential Housing, a policy brief from the National Association of Affordable Housing Lenders and the Center for Affordable Housing Lending, describes the critical role that federal funds play in building and maintaining affordable rental housing. It depicts the layers of needed funding – the capital stack – as a Jenga game, where a disruption in one source can lead to the collapse of the entire thing.
HAC
HAC is hiring
HAC job listings and application links are available on our website.
Need capital for your affordable housing project?
HAC’s loan fund provides low interest rate loans to support single- and multifamily affordable housing projects for low-income rural residents throughout the U.S. and territories. Capital is available for all types of affordable and mixed-income housing projects, including preservation, new development, farmworker, senior and veteran housing. HAC loan funds can be used for pre-development, site acquisition, site development, construction/rehabilitation and permanent financing. Contact HAC’s loan fund staff at hacloanfund@ruralhome.org, 202-842-8600.
Please note: HAC is not able to offer loans to individuals or families. Borrowers must be nonprofit or for-profit organizations or government entities (including Tribes).
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