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HUD No. 22-105 HUD Public Affairs (202) 708-0685 FOR RELEASE Wednesday June 1, 2022 Secretary Fudge Launches “Our Way Home” Initiative to Increase Affordable Housing Supply in Local Communities Secretary Fudge, HUD Regional Administrators to lead a Department-wide Day of Action for Our Way Home Campaign Launch WASHINGTON - U.S. Housing and Urban Development Secretary Marcia L.
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The Nuevo Atrisco development, near Unser and Central, includes 24 affordable housing units specifically for extremely low-income households. The city helped pay for the project. (Jim Thompson/Albuquerque Journal)
A May 2020 report commissioned by the city government found that Albuquerque lacked enough affordable housing for the growing number of renter households at the lowest end of the income spectrum. In fact, while the number of “extremely low-income” households increased, the supply of units they could live in shrank.
Authors of that Urban Institute study estimated the city needed 15,500 more affordable housing units to bridge the gap, while warning that the then-nascent COVID-19 pandemic was likely to make the situation even more precarious.