In FY 2026, Maryland awarded over $1 billion in affordable housing funds, underlining the need for more work to support project financing. 

For the 2026 fiscal year, the Maryland Department of Housing and Community Development awarded low-income housing tax credits and provided financing through state rental housing funds, the Multifamily Bond Program, and energy efficiency programs with an estimated value of more than $1 billion to create or preserve 3,025 affordable rental units.

Funding was administered by the Department’s Community Development Administration, the state’s housing finance agency. As part of creating and preserving these 3,025 affordable rental units in Fiscal Year 2026, the Department: closed 28 multifamily transactions; issued approximately $500 million in bond financing; administered Low Income Housing Tax Credits with an estimated equity value of more than $440 million; awarded nearly $79 million through State rental housing programs, including Rental Housing Works; and provided more than $6.3 million through the EmPOWER program to support energy-efficient construction and upgrades.

The Department’s investment marks the third consecutive year that Maryland has invested more than $1 billion in financing to support affordable rental housing development. From State Fiscal Years 2024 to 2026, the Department invested more than $4.4 billion ($4,412,232,627) to create or preserve nearly 10,000 (9,981) affordable rental units.

If you’re following the affordable housing debate, be sure to check out The Briefing Room, a new limited series from the Conduit Street Podcast. Airing Tuesdays this summer, the series breaks down complex topics over several weeks through conversations with key decision-makers shaping Maryland’s policy landscape. Our current run breaks down the basics of housing finances, and explores where public policy may help more projects to pencil out. The Briefing Room offers county leaders and policy watchers a clear, accessible look at the issues driving Maryland’s public policy landscape.

Check out the Briefing Room’s first three episodes on housing finance:

1. The Briefing Room: Before the Bricks, the Financial Realities of Housing
2. The Briefing Room: Why Housing Costs More Than Ever
3. The Briefing Room: The State’s Role in Solving Maryland’s Housing Crisis

Checkout the Briefing Room’s series on energy.

Read the full story.