Through our Sustainable Communities Partnership and Innovation Initiative, Fannie Mae is supporting innovative ways to address the shortage of affordable housing in the United States. We recognize that housing is inextricably linked to the broader community. Further, critical to solving the nation’s affordable housing issues is forging partnerships across sectors within a community, including employment, education, and health. We are also committed to racial equality in housing, and we strive to partner with organizations that reflect and serve communities of color.
When families live in safe, stable, and thriving neighborhoods, with integrated access to affordable housing, quality schools, and opportunities for health care and employment, they live in a sustainable community. Yet, for many low- and moderate-income households looking for reasonably priced housing, they are faced with the persistent imbalance between their housing needs and the inadequate supply of affordable homes. The result is a growing divide between those who can bear the cost of a home in a sustainable community, and those who cannot. The Sustainable Communities Initiative seeks to bridge this divide as we endeavor to improve outcomes in not only housing, but also quality of life.
Safe, affordable housing is at the center of all healthy, vibrant communities. The Sustainable Communities Initiative encourages cross-sector collaboration and thinks holistically about solutions to truly address the housing affordability crisis. When we do, not only will we help create a stronger U.S. housing market, but millions more American homeowners and renters will be able to access housing in thriving communities — affordably and equitably.
Since March 2020, over 50 million people have filed for unemployment insurance, and more than 20 percent of renters lived in a household that suffered COVID-19-related job loss.
More than half of Hispanic and Black households experienced a decline in employment income since mid-March, much higher than the share of households of other ethnicities.
Innovative solutions to address the affordable housing crisis
The Sustainable Communities Initiative is an incubator for ideas that identify innovative solutions to address the affordable housing crisis. We strive to connect people with tools, elevate and amplify ideas, and drive changes in the housing market around healthy, affordable housing. We aim to increase access to communities that are sustainable, and offer access to quality education, healthy homes, and well-paying jobs. Sustainable Communities supports early-stage pilot programs that are then transitioned to Fannie Mae business units upon success.
The Sustainable Communities Innovation Challenge
The Challenge is a 2-year $10 million commitment by Fannie Mae to attract innovative ideas that will help Fannie Mae address the nation’s affordable housing issues by advancing sustainable communities.Learn more
Future Housing Leaders
Sustainable Communities incubated this industry-focused program that offers paid summer internships to college students from diverse backgrounds who want a meaningful career that will enable them to impact a basic human need: housing.Learn more
Healthy Housing Rewards
Sustainable Communities incubated this program to provide financial incentives to borrowers who incorporate healthy design features for newly constructed or rehabilitated affordable multifamily rental properties.Learn more