Freddie Mac’s efforts in 2024 supported 507,191 affordable rental units across the United States. The GSE surpassed its 2024 multifamily affordable housing goals set by the Federal Housing Finance Agency (FHFA). Notably, 65% of 2024 production volume qualified as “mission-driven affordable housing,” exceeding the 50% goal set by FHFA. Over 65% of goal-eligible units financed were affordable to low-income residents earning less than 80% of area median income (AMI), while more than 15% were affordable to very low-income residents with incomes no greater than 50% of AMI. In total, 93% of all units financed in 2024 were affordable at or below 120% of AMI.
Freddie Mac Multifamily’s Targeted Affordable Housing volume reached a record high in 2024, providing $17 billion in financing to support nearly 133,000 rent-restricted affordable units. This initiative contributed to creating affordable units for more than 23,000 families, rehabilitating units for over 10,000, and preserving affordability without subsidy through Freddie Mac loan terms for nearly 11,000 families.
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