Workforce Housing Investment Program
Forecasted
Workforce Housing Investment Program supports Virginia communities creating new rental and homeownership housing for middle-income workers near job announcements, helping housing keep pace with job growth.
Funder: Virginia Housing
Due Dates (Anticipated): November 2026 (annual application deadline)
Funding Amounts: Up to $3 million per qualifying job announcement ($5 million for announcements of over 500 jobs); 24-month performance period
Summary: Supports new rental and homeownership housing affordable to middle-income households near qualifying job announcements in Virginia.
Key Information: Projects must produce at least five new units and secure a local or private match tied to locality distress level.
Description
Virginia Housing’s Workforce Housing Investment Program helps communities respond to job growth by producing housing for middle-income workers. It supports new rental and homeownership units near qualifying economic development announcements, including employer expansions. New construction and adaptive reuse that creates housing units can qualify; units already fully funded cannot. The program is part of Virginia Housing’s planned $75 million investment over five years.
Projects are intended to serve households earning 80%–120% of area median income, with an upper limit of 150% in eligible rural areas. Virginia Housing makes awards as grants or loan subsidies, based in part on development readiness, locality cooperation, and available funding. Selection does not guarantee Virginia Housing permanent financing.
