Rental Award Statistics

Rental Award Statistics

Over $202 million in federal funds, including $10 million specifically set aside for nonprofit organizations, has been awarded to rental property owners in Round 1. The $202 million in federal funds will be awarded to help restore more than 5,200 rental units in 13 of the most damaged parishes in South Louisiana. Of those, 4,075 will offer affordable rental units to low- to moderate income level working families. The other units will be occupied by owners in small rental properties and market rate tenants in mixed income buildings. The breakdown of award dollars is as follows:

The two parishes that received the most funding were Orleans, receiving approximately 72%, and Jefferson, receiving approximately 13%. Nonprofit organizations received approximately $10 million (5% set-aside of Round 1 funds). 80 nonprofit applications were conditionally awarded incentives to 174 rental units in the most heavily damaged areas. Those nonprofit organizations receiving incentives are most likely to offer housing to people with special needs. This includes people with disabilities, homeless families, the elderly, persons with special needs and/or “at risk” youth. The breakdown for award dollars for nonprofits is as follows:

The Road Home Small Rental Property program received over 6,500 applications at the close of Round 1, and has determined there will be an estimated 2,693 awardees.