Affordable housing construction remains a major priority for public agencies as states work to increase housing supply and modernize aging residential properties. Maryland has committed more than $1 billion in financing during Fiscal Year 2026 to support the construction and preservation of affordable rental housing, advancing 28 multifamily developments across the state.
The Maryland Department of Housing and Community Development administered the funding through its Community Development Administration, combining multiple financing sources to support affordable housing delivery.
The Fiscal Year 2026 investment package includes approximately $500 million in multifamily bond financing, more than $440 million in Low Income Housing Tax Credit equity, nearly $79 million through state rental housing programs and more than $6.3 million for energy-efficient construction and building upgrades.
Collectively, the financing will support the creation or preservation of 3,025 affordable rental units.
Projects funded during the fiscal year include new construction and rehabilitation developments serving families and senior residents across multiple Maryland communities.
Among the projects receiving financing are:
The department completed financing for these projects during the fourth quarter of Fiscal Year 2026, helping push total annual investment above the $1 billion threshold.
For construction owners, developers and multifamily contractors, continued public investment in affordable housing supports a steady pipeline of residential construction, rehabilitation and energy efficiency projects. State-backed financing programs also create opportunities for firms involved in multifamily development, renovation and sustainable building upgrades.
