Washington State Housing Trust Fund
HDC believes that everyone should have the opportunity to live in a safe, decent, affordable home. The Housing Trust Fund is Washington State’s most important investment toward achieving that goal. By building strong communities, this investment contributes to our quality of life, making Washington the kind of state we all want to live in.
The Housing Trust Fund provides homes for low- and moderate- income families and individuals like entry-level teachers, service industry workers, people with special needs, the elderly and persons with disabilities. The Housing Trust Fund supports weatherization and home repair programs like Energy Matchmakers, which helps reduce energy dependence, while decreasing the cost of energy for low-income families and improving the health and safety of their homes.
The Housing Trust Fund is also a powerful driver of economic development. According to the National Association of Home Builders, for every 1,000 apartments developed, 1,220 jobs are created, $79 million is generated in local income, and $8.3 million is generated in taxes and fees for local governments. This includes the direct and indirect impact of the construction activity, as well as the ripple effect of that income being spent on other locally produced goods and services.
The Housing Trust Fund is funded through the capital budget and paid for by selling bonds that are paid off over time.
Since 1989, the Housing Trust Fund has:
- Helped tens of thousands of families by creating or preserving more than 35,000 homes in 38 of Washington’s 39 counties.
- Leveraged more than $3 billion in private and public sector support. Housing Trust Fund money is matched by other funds at a ratio of more than four to one.
HDC collaborates with the Washington Low Income Housing Alliance to advocate for the Housing Trust Fund in the state legislature.