(NewsDakota.com) – Submitted by Lucy Wyndham – A lack of affordable housing is a problem for many states but, in an effort to help address the issue here, the North Dakota Housing Finance Agency (NDHFA) has made a conditional commitment to fund five affordable housing projects consisting of over 250 separate units statewide. In the City of Jamestown, further grants will help to fund housing developments with rental assistance for seniors. As well as funding new housing projects, several organizations throughout the state continue to provide financial and practical help to people hoping to purchase their own home and residents struggling with their rent or at risk of homelessness through eviction.

Help for First Time Homebuyers

While renting a home has traditionally been more cheaper than buying, a recent survey found that last year, owning a property became more affordable than renting in almost two-thirds of US counties. In North Dakota, Grand Forks County tops the list of counties where rents make up the highest median percentage of income, while in Hettinger County the median percent of income spent on housing is less than 10%. For householders who want to buy on a tight budget, an experienced realtor can help to negotiate a good deal. However, buyers still need access to adequate funding in order to move forward with a purchase. In North Dakota, the NDHFA can offer affordable home financing to buyers on lower incomes as well as helping to ensure the availability of rental properties for households who are not yet in a position to buy their own home.

Rental Assistance For Qualifying Households

Rental assistance can help the homeless find stable housing and provide funding for low and moderate income households struggling to pay their rent or who are at risk of losing their homes due to arrears. Since last year, one assistance program in Cass County has given over $27 million dollars of funding to qualifying households, providing up to one year’s worth of rent. ND Rent Help can also help renters who are at risk of having utilities such as electricity or water disconnected.

Funding to Provide Shelter for the Homeless

Lack of affordable housing is one of the major causes of homelessness and, although North Dakota has the country’s smallest population of homeless people, this number is on the increase. This is partly due to the state’s recent economic boom which has attracted more people looking for work but without being able to match their need for affordable homes. The North Dakota Coalition for Homeless People raises money for the homeless and is at the center of a network of more than 70 organizations which provide food and shelter while at the same time raising awareness of the issue.

As the lack of affordable housing becomes a serious problem across many areas of the US, states are taking action. In North Dakota, a number of new affordable housing projects are moving forward thanks to extra funding, while both potential homebuyers and renters can access help with financing their homes and living expenses.