June is National Homeownership Month and the US Department of Agriculture is highlighting programs that help people in rural, Tribal and underserved areas buy, build and repair affordable homes and to pay their rent in America’s smallest towns and communities.
USDA Rural Development State Director for South Dakota Nikki Gronli says, “As we look forward to a ‘new normal’ of building our economy back better in 2022 and beyond, RD is there to support rural Americans at any stage — whether that’s starting a new job, moving to a new town, or any other life change brought about by the pandemic or other impactful event,” Gronli said. “When you own or rent a home, you’re invested in and connected to where you live. Through single family, multi-family, rental assistance, home repair and other programs, USDA Rural Development is here to grow rural residency in the United States.”
Expanding opportunities for homeownership and rental assistance strengthens rural communities and helps families and individuals build wealth and achieve financial stability. This month, the Agency is highlighting the ways that USDA has invested $239.2 million since the beginning of fiscal year 2021. These investments have helped more than 1,400 families and individuals in South Dakota’s rural and Tribal communities buy, repair and build homes through USDA Rural Development’s single family housing programs.
In addition, USDA works to increase access to affordable multifamily rental housing opportunities in rural America. Rural Development has helped nearly 800 tenants in South Dakota since fiscal year 2021 afford to pay their rent through rental assistance. This assistance ensures low-income and elderly tenants pay no more than 30% of their income in rent. For more information, visit Multifamily Housing Programs | Rural Development (usda.gov). For a listing of available rural rental properties in South Dakota that are eligible for USDA’s rental assistance and tenant voucher programs, visit http://rdmfhrentals.sc.egov.usda.gov/RDMFHRentals/select_state.jsp.
USDA is also highlighting ways it is working with lenders and community partners to open the door to homeownership for rural Americans who have been unserved or underserved for far too long.
For example, here in South Dakota, USDA wouldn’t be able to assist as many families and individuals with affordable homeownership through the Single Family Housing Guaranteed Loan Program without the help of our private lending partnerships. So far in fiscal year 2022, USDA has guaranteed the loans of 136 families and individuals – an investment of nearly $24 million – in partnership with the following private lending institutions:
USDA is hosting events across the nation to showcase affordable housing programs for lenders, community partners, families and individuals. USDA’s single-family housing programs are: