New York Housing Conference released a new analysis about the impact of the sudden cut to funding for the Emergency Housing Voucher Program.
The Emergency Housing Voucher Program (EHV) was part of a package of COVID relief passed in the American Rescue Plan Act of 2021. $5 billion was appropriated to fund 70,000 rental assistance vouchers to serve the most vulnerable populations – including those at risk of or experiencing homelessness; domestic violence survivors; and survivors of human trafficking. New York State has issued over 9,400 vouchers.
However, in March, HUD announced the original appropriation for the vouchers would be exhausted during 2026 or possibly 2025, four years earlier than expected. This is the first time PHAs were given notice that the money for the vouchers would run out before September 30, 2030. This abrupt loss of funding will be harmful to families, children, property owners, and the state as a whole.
Most participating households cannot afford the market rent of their current apartment without the federal subsidy and the housing supply shortage means it would be next to impossible for them to find new homes. In addition, ending EHV payments will hurt landlords financially, especially rent stabilized building owners.
See more about the impacts to tenants and landlords, and the impact by Congressional district in our analysis here.
