The federal government has reduced funding for subsidized housing programs. At the same time, THA’s largest housing program, rental assistance vouchers, has become more expensive to operate. This is because THA pays to subsidize households renting from private landlords. Rents have increased faster than Federal funding. Additionally, housing authorities and nonprofit housing providers have experienced significant increases in insurance premiums, construction costs, maintenance expenses, utilities, and other operating costs. For example, Federal funding was cut by 1%, but the average monthly payment we make for rental vouchers increased by 4%.
These pressures have created funding gaps for many affordable housing organizations like THA, making it more difficult to preserve existing housing, develop new affordable homes, and meet the growing demand for housing assistance. While the need for affordable housing continues to grow, available resources have not kept pace.
At THA, we work diligently to maximize every dollar we receive by combining federal funding with rental income, grants, partnerships, and other financing tools. We continually look for new ways to operate efficiently, preserve existing housing, and secure additional resources so we can continue serving thousands of households in Tacoma and Pierce County.
The challenge is not unique to Tacoma. Housing authorities and affordable housing providers nationwide are grappling with the same reality: demand for affordable housing far exceeds the resources available to provide it. As housing costs continue to rise, sustained investment in affordable housing and rental assistance remains critical to ensure that low-income families, seniors, veterans, and people with disabilities can access safe and stable housing.
About Tacoma Housing Authority
Established in 1940, Tacoma Housing Authority provides high-quality, stable, and sustainable housing and supportive services to people in need, in ways that help our clients prosper and help our communities develop equitably. THA develops and manages real estate, provides rental housing, and partners with thousands of private landlords to help families pay the rent in the private rental market. In addition, THA delivers supportive services to help families succeed as tenants, parents, students, wage earners, and builders of assets who can live without assistance. THA seeks to do its work in ways that help our community be an “attractive place to live, work, attend school, shop and play,” and that help Tacoma be “safe, vibrant, prosperous, attractive and just.”