HUD Voucher Funding: Flat for 2025, But DFW Rentals—and Section 8—Stand the Test of Time
If you’re investing in Dallas-Fort Worth (DFW) rentals like I am, you’ve probably had HUD’s Housing Choice Voucher (HCV) program—aka Section 8—on your radar as D.C. hashed out its budget. Flat funding or cuts could’ve nudged our tenant pool, but as of today, March 20, we’ve got the word: Congress locked in a year-long Continuing Resolution (CR), signed by Trump, keeping 2025 at FY24 levels. No cuts, no boost—just steady. Here’s how it shook out, why DFW still looks strong, and why Section 8’s long-term track record keeps me in the game.
The Run-Up Had Us Watching
Late 2024 was tense. FY24 funded the HCV’s Tenant-Based Rental Assistance (TBRA) account at $28.5 billion, backing 2.3 million vouchers nationwide—including ~32,000 across the DFW metroplex, from Dallas Housing Authority to Fort Worth Housing Solutions and beyond. With rents ticking up, that budget was stretched, and flat funding into FY25 risked trimming 32,000 vouchers nationally, per the National Low Income Housing Coalition (NLIHC). Cuts were the real threat.
Advocates angled for $35–36 billion to keep every voucher alive and maybe grow the program. The House tossed out a lean $28.6 billion, the Senate aimed for $35.3 billion, and a March 7 CR teased $32.14 billion. With a March 14 deadline and shutdown talk, it was a coin flip—hold steady or take a hit?
The Outcome: Flat, But Familiar
This week nailed it down. Congress passed a year-long CR on March 14, Trump signed it on March 15, and it’s $28.49 billion for TBRA through September 30, 2025. Shutdown dodged, but no YoY bump. NLIHC warns 32,000 vouchers could slip nationally as rents outpace funding—not a DFW-specific blow, but a slow drip to note. Dallas’ 31,500–32,000 vouchers here? Still standing.
DFW Investors: Strong Today, Built for Tomorrow
Flat funding’s no windfall, but DFW rentals—and Section 8—keep humming. Here’s why I’m not fazed:
Demand is Steady: The metroplex’s 32K voucher households aren’t going anywhere fast. Demand is still strong with closed wait-lists and lottery in place for new applicants. If you have a voucher and still need it, you’ll do everything in your power to keep it (translation: favorable tenants).
Growth Trumps Risks: With 7.6 million people and 25% population growth since 2010, this region’s a juggernaut. Voucher pressure might nibble long-term, but DFW’s momentum shrugs it off for now.
Your Playbook Works: Inflation lifts rents and values—adjust leases, boost properties, or refinance when rates drop. You’ve got the reins.
Sure, flat funding’s got a catch—waitlists won’t budge, and if national cuts stack up, we might see a slight leasing lag in softer corners. But that’s small potatoes in a market this hot.
The Long Game: Real Estate and Section 8 Endure
Here’s the kicker: real estate’s a long-term play, and Section 8’s proven it’s built to last. Since 1974, this program’s weathered recessions, budget fights, and inflation spikes—still pumping out reliable tenants decade after decade. Stocks crash overnight; homes don’t. Flat funding’s just another chapter, not the endgame. In DFW, where demand’s sticky and growth’s relentless—24-day leasing times in peak season—this CR keeps us rolling, not reeling. I’d still bet on this metroplex over most any day.
FY26 budget talks are next—advocates will push, and I’ll watch. For now, DFW rentals are a solid hand, backed by a program that’s stood the test of time. Got a deal in mind or a take? Let’s hash it out.
💡 Eyeing DFW rentals? Schedule a call with SolMidas and let’s build something that lasts.