The Federal Housing Finance Agency (FHFA) issued a final rule for Fannie Mae and Freddie Mac (the Enterprises) that establishes the benchmark levels for their multifamily housing goals for 2023 and 2024 using the new percentage-based methodology outlined in the proposed rule.
| Final Multifamily Housing Goals for 2023-2024 | ||
| Goal | Criteria | Benchmark |
| Low-Income Goal | Percent of all goal-eligible units in multifamily properties financed by mortgages purchased by the Enterprises in that year that are affordable to low-income families, defined as families with incomes less than or equal to 80 percent of AMI. | 61% |
| Very Low-Income Subgoal | Percent of all goal-eligible units in multifamily properties financed by mortgages purchased by the Enterprises in that year that are affordable to very low-income families, defined as families with incomes less than or equal to 50 percent of AMI. | 12% |
| Small Multifamily Low-Income Subgoal (5 to 50 units) | Percent of all goal-eligible units in all multifamily properties financed by mortgages purchased by the Enterprises in that year that are units in small multifamily properties affordable to low-income families, defined as families with incomes less than or equal to 80 percent of AMI. | 2.5% |
