Maryland Funds Nearly 4,000 Affordable Housing Units in FY2025

President Trump's One Big Beautiful Bill has led to a significant expansion in affordable housing, with Fannie Mae and Freddie Mac now authorized to invest $4 billion annually in Low Income Housing Tax Credit properties, including rural and underserved communities. Montgomery County, Maryland, uses a negotiated Pay In Lieu of Taxes (PILOT) program to incentivize affordable housing development by granting tax exemptions in exchange for reduced rents, balancing developer costs and local government revenue impacts. Significant investments in affordable housing are evident across the region, including a $24 million renovation in West Baltimore providing 71 units for homeless families, veterans, and those with mental health needs, as well as the $100 million Harvard Court Apartments project in Columbia Heights that offers 108 affordable units. Maryland's Department of Housing financed nearly 4,000 newly constructed or rehabilitated affordable units in fiscal year 2025 and launched initiatives such as the UPLIFT program to revitalize historically redlined neighborhoods and the Baltimore Vacants Reinvestment Initiative to rehabilitate vacant properties. These efforts collectively reflect a multi-level governmental commitment to increasing affordable housing supply and addressing the housing needs of vulnerable populations in urban and rural areas.