Alongside data, Treasury releases new blog detailing how ERA had expanded reach to tenants in need while building long-term eviction prevention infrastructure
WASHINGTON – During remarks at the National Low Income Housing Coalition’s 2023 Housing Policy Forum, Deputy Secretary of the Treasury Wally Adeyemo announced new data from the U.S. Department of the Treasury showing nearly 10.8 million Emergency Rental Assistance (ERA) payments made to households at risk of eviction while investing in projects to support long-term housing stability. The new Treasury Department data covers payments made through December 31, 2022.
“This new Emergency Rental Assistance data reflects an intentional effort to make sure that rental assistance got into the hands of those who needed it most, and those who might otherwise have faced the devastating consequences of eviction,” said Deputy Secretary of the Treasury Wally Adeyemo. “Today's data illustrates how ERA funds have kept millions of families in their homes. But beyond that, it underscores that we must build on the legacy of the ERA program and help communities make long-term, durable investments in eviction prevention, homeowner assistance, and the construction and preservation of affordable housing.”
Altogether, ERA has made $46.55 billion available to promote housing stability. In addition, a report the Treasury Department released earlier this month found that state, local, Tribal, and territorial governments have also used $15.9 billion in State and Local Fiscal Recovery Funds (SLFRF) for more than 2,100 projects to meet housing needs, including over $5.4 billion committed to affordable housing development and preservation.
Treasury’s ERA program has provided communities with significant resources to support housing stability throughout the COVID-19 pandemic, and studies have shown that the majority of ERA funds have gone to low-income and/or traditionally underserved renters of color. The demographic information included in today’s data release also shows that over 85 percent of ERA beneficiaries are very low-income families and that funds have reached a diverse range of households.
While ERA addresses immediate financial distress resulting from the COVID-19 pandemic, it also serves as a catalyst to pilot solutions for existing gaps in the housing ecosystem and support long-term housing stability for renters. ERA grantees across the country have successfully used housing stability services to support outreach to various communities, to fund eviction prevention and diversion efforts, and to support relocation and rehousing efforts. While eviction diversion programs were uncommon before the pandemic, at least 180 jurisdictions across 36 states have launched or strengthened eviction diversion programs with ERA. Along with new data, the Treasury Department is releasing a new blog post on ERA, authored by Chief Recovery Officer Jacob Leibenluft, which describes Treasury’s work on ERA and the transformative impact of the program.
The Treasury Department has undertaken several initiatives to help funds quickly reach eligible renters in need. In order to further accelerate the provision of support and maximize available resources for renters, Treasury has implemented a reallocation approach to ensure funds that might otherwise have gone unused are redirected to grantees with demonstrated need and robust programs. To date, Treasury has reallocated over $4.3 billion of ERA funds. In addition to reallocation, Treasury has shared best practices with recipients across the country, hosted roundtables to engage with community and advocacy groups, worked with the White House to promote lasting eviction prevention initiatives using ERA funds, and eased burdensome documentation requirements to more easily reach eligible renters in need—among other initiatives to promote program success.