Homebuyer assistance programs increased by 172 (7%) in 2024, and the number of entities offering them increased by 75 year-over-year, according to the latest Homeownership Program Index (HPI) report from Down Payment Resource (DPR). That brings the total number of programs available to prospective buyers up to 2,466.
“We are pleased to see state and local agencies adapting to the current and ongoing housing affordability crisis by adding new programs and expanding their criteria to allow for the purchase of multi-family and manufactured housing,” said Rob Chrane, Founder and CEO of DPR. “We’re also seeing more flexibility in how funds can be used—a down payment, closing costs or buying down their interest rate. In a market with few homes for sale and escalating prices, down payment assistance has become vital for many buyers in helping them to become homeowners and start building wealth through equity.”
Key HPI Report Findings for Q4 2024
- The number of U.S. homebuyer assistance programs increased by 22 over the past quarter: A 1% increase over the previous quarter, and a 7% year-over-year increase.
- The largest share of program gains year-over-year was from grants: The most substantial year-over-year gains were seen in grant programs (50), combined assistance programs (49), and below-market-rate (BMR)/resale-restricted programs (21).
- Local housing finance agencies added the most programs in 2024: Local housing finance agencies introduced 72 programs, a 60% year-over-year increase. Non-profits added 50 programs, and municipalities added 46 programs during this period.
- Multi-family and manufactured housing programs continue to grow: Programs supporting multi-family purchases increased by 17% year-over-year, rising from 686 in Q4 2023 to 805 in Q4 2024. Similarly, programs for manufactured housing grew by 14% year-over-year, from 804 in Q4 2023 to 914 in Q4 2024.
- By the end of 2024, 196 programs offered incentives for special groups: This breaks down to 68 programs offering special funding for educators, 54 programs for protectors, 49 programs for military veterans, 47 programs for firefighters, 44 programs for healthcare workers, and 47 for Native Americans.
Click here for a more detailed analysis of the Q4 2024 HPI findings, including infographics and examples of the programs described above, and click here for a complete list of homebuyer assistance programs by state.
