On Tuesday, Seattle Mayor Bruce Harrell announced a historic $170 million investment to create, preserve, and stabilize affordable rental housing across Seattle, the largest single-year funding commitment for affordable housing in the city’s history.
The money, distributed through the city’s annual Notice of Funding Availability (NOFA), will support projects that expand housing options for very low-income families, stabilize existing properties, and help people transition from shelters into permanent housing.
“An affordable home provides stability, security, and the foundation to grow and thrive,” Harrell said. “This investment will create additional affordable homes and maintain existing ones, with a focus on providing housing for families with very low incomes and for people exiting shelter into permanent housing. This is part of the more than $1 billion we’ve committed to affordable housing, and it embodies our focus on tackling housing affordability with urgency and action.”
The $170 million allocation represents a shift in strategy. For the first time, Seattle is directing funding not only toward production of new homes and preservation of existing housing, but also toward stabilization — a category that helps financially challenged properties remain viable so they can continue serving communities.
Patience Malaba, executive director of the Housing Development Consortium of Seattle-King County, said the investment addresses the full spectrum of housing needs.
“This significant investment meets the moment for Seattle and demonstrates the City’s commitment to both creating new affordable homes and preserving the ones we already have,” Malaba said. “By addressing the full spectrum of housing needs — from new development to long-term stability, this funding advances inclusive, sustainable communities that will serve Seattle residents for generations.”
Each year, the Office of Housing sets NOFA priorities based on community input, data, and market conditions. The 2025 cycle emphasizes projects serving families and individuals with incomes at or below 30% of area median income (AMI), as well as housing for people exiting homelessness. These homes are among the scarcest in the market and typically require public subsidies to be feasible.
Applicants must meet criteria that weigh project readiness, location, funding sources, and who the housing will serve. City officials say the aim is to ensure investments go to projects that can move quickly and deliver the most impact.
“Seattle needs more housing in every district. And it needs to be affordable,” said Seattle City Councilmember Debora Juarez. “This funding allows the city to invest and align resources to meet the city’s growing needs of creating new rental units, preserving existing units, and promoting access to affordable housing.”
The announcement comes as the city continues to face a housing affordability crisis that has priced out many working families and intensified pressures on Seattle’s shelter system. Harrell’s administration has pledged more than $1 billion toward affordable housing initiatives, paired with reforms to streamline the permitting and design review process, which officials say will speed up the delivery of both affordable and market-rate homes.
The $170 million NOFA draws on a mix of local funding sources, each with its own affordability requirements. Applications are due September 18 at noon, with awards expected to be announced later this year.
City leaders say the funding represents not just a financial milestone but a signal of Seattle’s broader commitment to equitable growth.
“The preservation and production of affordable housing is foundational for thriving and equitable communities,” the Office of Housing wrote in its 2025 NOFA announcement. “These investments will deliver quality, affordable housing for low-income individuals and families, elders, and neighbors who work full-time or multiple jobs and are still struggling to make ends meet.”
