U.S. Department of Housing and Urban Development - HUD

DEFINITION of 'U.S. Department of Housing and Urban Development - HUD'

A U.S. government agency created in 1965 to support community development and increase home ownership. HUD does this by improving affordable home-ownership opportunities, increasing safe and affordable rental options, reducing chronic homelessness, fighting housing discrimination by ensuring equal opportunity in both the rental and purchase markets, and supporting vulnerable populations.

BREAKING DOWN 'U.S. Department of Housing and Urban Development - HUD'

HUD enforces the Fair Housing Act and oversees the Community Development Block Grant, the Housing Choice Voucher program, and other programs to assist low-income and disadvantaged Americans with their housing needs. Following Hurricane Katrina, HUD has also been involved in disaster recovery in the GulfCoast region. The agency works with other government agencies and with private organizations, including community nonprofits and faith-based organizations, to reach its goals.

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