Governor Ferguson Announced $212 Million in Funding for Affordable Rental Housing Statewide

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OLYMPIA: The state Department of Commerce and Governor Bob Ferguson announced that applications for $212.4 million in funding for affordable multifamily rental housing are now being accepted. Every town around the state will see a reduction in the number of units required thanks to this investment.

Funding for capital housing projects is managed by the Commerce Multifamily Housing Unit. The Washington State Housing Trust Fund (HTF), Apple Health and Homes (AHAH), the Intellectual and Developmental Disabilities program, and the federal HOME and National Housing Trust Fund (NHTF) programs are among the funding sources that are available to developers who are planning affordable housing projects.

According to Governor Bob Ferguson, every Washingtonian should have access to reasonably priced housing. There is a much greater need for affordable housing in Washington. We invested more money in affordable housing as a state this last session than we have ever done. These expenditures will enhance affordable housing around the state and benefit our most disadvantaged citizens.

According to Commerce Director Joe Nguyen, one of the best investments we can make in the future of our state is affordable rental housing. Entire communities are strengthened, local economies are bolstered, and everyone’s future is improved when we invest in housing that people can truly afford.

The state’s Housing Trust Fund has contributed over $1 billion in capital funds and assisted in the construction or preservation of over 60,000 affordable housing units around the state since 1986. It’s important, but more is required:According to Commerce research, in order to fulfill demand and projected expansion, the state would require over a million additional homes over the next 20 years, with more than half of those homes having to be within the means of those making less than 50% of the median family income.

There are two available financing opportunities:

  • HTF Multifamily Housing NOFA #MHU-2025-01

    : Multifamily rental affordable housing projects funded by the state Housing Trust Fund (HTF), Apple Health and Homes (AHAH), and Intellectual and Developmental Disabilities (IDD) programs.

  • HOME and NHTF NOFA #MHU-2025-02

    : Multifamily rental affordable housing projects funded by federal HOME and National Housing Trust Fund programs to further the goals articulated in Washington state s

    2025-2029 Consolidated Plan (CONPLAN)

    .

The deadline for both applications is October 16.

During the 2025 legislative session, the Legislature authorized a record two-year, $419 million investment in affordable housing, which includes this financing. The total sum covers the development of affordable multifamily housing, including new construction, acquisitions, and rehabilitation, which will help those with low incomes, those who have been homeless for an extended period of time, those who have intellectual and developmental disabilities (IDD), and others who have faced housing stability challenges.

More villages will be able to modernize like the Salishan thanks to this new financing round. Visit the MHU website’s financing opportunities page to learn more about these and other housing funding opportunities. Every opportunity for commerce funding is accessible online.

Applications for two affordable housing opportunities are being accepted by the Department of Commerce through October 16.

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