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Dec
17

Housing Finance Program

The King County Housing Finance Program (HFP) administers funds for the development and preservation of affordable housing throughout King County. It does this through an annual Request for Proposals process.

Partnerships are encouraged among local governments, public housing authorities, nonprofit housing developers, for-profit developers, and service providers in order to produce the greatest number of units for the most reasonable public investment, and to provide appropriate supportive services to residents with special needs.

Eligibility requirements

2024 Income and Rent Limits

2023 Income and Rent Limits

HFP funding programs include:

Transit Oriented Development

Transit oriented development combines affordable housing with easy access to public transit (i.e. Light Rail, RapidRide, Bus Rapid Transit (BRT), Sounder or Sound Transit Express bus station). King County is committed to supporting capital projects that connect people to public transit and meet the housing needs of communities.

Interim Loan Program

Provides low-cost financing for the acquisition of property that will be developed to provide low-income housing, prioritizing projects proposing the development of permanent affordable housing with at least 25 percent of the units for homeless households. Additionally, units must be affordable to households at or below 50 percent of area median income, with homeless units to be at or less than 30 percent of area median income. 

Credit Enhancement Program

An initiative to assist in the development of affordable housing. On select projects that meet King County priorities, King County will provide a credit enhancement which reduces the financing costs for housing developments. In exchange for project savings, the developer agrees to set aside affordable units within the project.

Special Needs Funding

HFP also works with other divisions in King County's Department of Community and Human Services and other partners to coordinate planning activities and funding for affordable housing that meets the needs of special populations. Partners include the King County Behavioral Health and Recovery Division, the King County Developmental Disabilities Division, the King County Veteran's Program and King County Regional Homelessness Authority. These partners work with HFP to provide guidance and priorities for developing housing for the special populations that they serve. At various points in time, money may be dedicated to housing for specific special needs populations and administered by HFP.

Looking for services?

Looking for services?

  • Contact the Resource Access Team to connect with services that include bridging short-term financial gaps.  
  • Call 2-1-1 or 1-800-621-4636, Monday-Friday, 8 a.m. – 6 p.m. for a range of health and human services, from finding an emergency shelter to adult disability supports. Immediate language interpretation is available in more than 155 languages.  
  • Dial 7-1-1 for interpretation and accessibility services. A person with a hearing loss or speech disability will be connected with a Communication Assistant to help.  
  • Contact a Regional Access Point if you are living outside and need help finding a long-term housing solution. 
  • Keep King County Housed is a rent assistance and eviction program for renters who need help covering past-due rent and/or have an active eviction notice.  
  • If you are facing eviction, the Housing Justice Project provides free legal assistance to renters facing eviction in King County. 
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