The Neighborhood Homes Coalition Applauds the Senate’s Reintroduction of the Bipartisan Neighborhood Homes Investment Act, Urges Inclusion in Reconciliation Package
Young and Warner reintroduce bipartisan homeownership supply legislation that would create a tax incentive to build and preserve more than 500,000 affordable homes over ten years in under-resourced communities.
WASHINGTON, DC (May 8, 2025) – The Neighborhood Homes Coalition applauds the reintroduction of the bipartisan Neighborhood Homes Investment Act in the U.S. Senate during the 119th Congress. The bill is led by Senator Todd Young (R-IN) and Senator Mark Warner (D-VA). A companion House bill was reintroduced on April 10 by Representative Mike Kelly (R-PA-16) and Representative John Larson (D-CT-1).
This widely supported legislation would create a new tax incentive to build and preserve more than 500,000 affordable, single-family homes for homeownership over ten years in under-resourced communities.
As Congress moves quickly to prepare a reconciliation package, we respectfully urge lawmakers to ensure that the Neighborhood Homes Investment Act is included. Homeownership is the cornerstone of the American Dream and a critical pathway to building wealth. This bill is a pro-growth, pro-family solution that empowers working families to access modest, affordable homes while revitalizing rural, suburban, and urban communities that have long been left behind.
Right now, hardworking Americans are struggling to find an affordable home to own. Too many streets across our nation are lined with vacant lots or dilapidated housing in need of substantial repairs, which in some cases cost more than the value of the home itself. In many communities, especially rural areas, the cost to build or rehab modest homes exceeds what families can afford — stalling development and holding back local economies. The Neighborhood Homes Investment Act addresses this “value gap,” unlocking private investment and making it financially viable to build and preserve affordable, owner-occupied homes.
“Across Indiana, we have seen once-vibrant neighborhoods struggle under poor economic conditions and lack of investment. The Neighborhood Homes Investment Act would help restore these communities by directing private capital into neighborhoods in low-income census tracts, bridging the gap between the cost of renovation and neighborhood property values,” said Senator Young. “This legislation also includes important guardrails to ensure that tax incentives target the families that need it most, continuing the work to avoid the negative and lasting consequences that a lack of safe, affordable housing has on Hoosier families.”
“I’m proud to lead this bipartisan effort to address the lack of attainable housing in our communities. The Neighborhood Homes Investment Act will create new incentives for building and restoring affordable housing in areas that need it the most,” said Senator Warner.
Joining Senators Young and Warner are Senators Cindy Hyde-Smith (R-MS), Kevin Cramer (R-ND), Tim Scott (R-SC), Ron Wyden (D-OR), Tim Kaine (D-VA), and Chris Coons (D-DE) as original cosponsors.
The Neighborhood Homes Coalition commends Senators Young and Warner and each of the bill’s cosponsors for their championing of the bipartisan legislation. The Neighborhood Homes Coalition urges Congress to enact the Neighborhood Homes Investment Act, the widely popular, bipartisan affordable homeownership supply solution, in a 2025 tax package.
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The Neighborhood Homes Coalition is a national advocacy group of 47 national organizations, including housing and community development nonprofits, financial institutions, and related trade associations – all supporting enactment of the Neighborhood Homes Investment Act. Learn more about the Neighborhood Homes Coalition at www.neighborhood homes investment act.org.
The National Association of Affordable Housing Lenders (NAAHL), the National Community Stabilization Trust (NCST), and the Local Initiatives Support Corporation (LISC) co-chair the Neighborhood Homes Coalition.