Housing as an Engine for Economic Mobility
Aug 21, 2026
Robin Hughes
President & Chief Executive Officer
When it comes to affordable housing, practitioners understand that real impact is about much more than the bricks and mortar of building. Housing can be, and should be, a foundational piece of economic mobility for millions of people.
Part of that is a fundamental question of affordability. If rents and mortgages cost less, families have more financial leeway. But housing can also be a platform for helping people increase their income, build wealth, and participate more fully in the economy. Recognizing that connection can help us get more from every dollar invested in affordable housing.
That’s why HPN is advancing the work at the intersection of economic mobility and housing. Working with partners across the sector, we are building evidence for programs that work and deserve to be funded, scaled, and replicated.
Three recent studies are good examples. Each has a different focus — resident services, asset-building programs and homeownership financing — but they all address the same question. Can we create opportunities for residents to become more financially secure while also strengthening the health of our housing stock?
The short answer: yes, we can.
Stability Starts at Home
In an environment of rising costs, resident services are often the first things to be cut. However, research conducted by Abt Global shows that the value of these services extends beyond residents to the financial performance of affordable housing properties. The research was supported and facilitated by Stewards of Affordable Housing for the Future (SAHF) in partnership with HPN, NeighborWorks America (NeighborWorks), the Multifamily Impact Council (MIC), and the National Leased Housing Association (NLHA).
Properties offering resident services generate 26% higher NOI (net operating income), or approximately $1,200 more per unit annually than those without.
And the return is significant. Every $100 per unit invested in resident services generates $259 in additional NOI and nearly $400 in total revenue per unit the following year.
Resident services are not just add-ons to affordable housing communities. Financial coaching, health programs, youth activities and initiatives focused on housing stability and community engagement can strengthen the financial performance of a property while supporting the well-being of residents. That’s a strong case for thinking twice before cutting them.
Helping Residents Build Assets
A study by the Asset Builders Alliance (a partnership including HPN, Compass Working Capital, SAHF, and NCSHA) modeled six scenarios showing how residents living in Low-Income Housing Tax Credit (LIHTC) properties accumulated $2,000 to $6,000 in savings over five years using existing tools like rent rebates, annual bonuses, and capitalized reserves.
Why does that matter? Evictions can cost property owners upwards of $5,000 per unit. Helping residents build savings gives them a cushion when unexpected expenses arise, reducing the risk of displacement and the financial costs that come with it.
We also know there are models that work. Programs like HUD’s Family Self-Sufficiency (FSS) program demonstrate how residents can build assets without risking access to vital housing benefits.
We are calling on private and philanthropic leaders to help us test and ultimately scale these asset-building frameworks for affordable housing portfolios across the country.
Making Homeownership More Accessible
For renters who want to become homeowners, we need to create more accessible pathways from renting to owning, particularly for first-time and first-generation homebuyers. HPN believes CDFIs (Community Development Financial Institutions) have an important role to play in opening those pathways.
To evaluate new entry points for wealth creation, the Urban Institute examined the early performance of Inspire100 — a mortgage product designed by the Equitable Homeownership Collaborative (created by HPN, six CDFIs, Self-Help Credit Union, and Fahe).
Inspire100 solves a critical liquidity challenge by bridging what CDFIs know their communities need and what traditional secondary markets will buy. By providing 30-year fixed-rate loans at below-market rates (with up to 100% LTV for buyers with credit scores of 660+), the program requires buyers to contribute just $1,000 for a down payment and hold one month of reserves.
Having already closed 283 mortgages across 12 states, Inspire100 offers a clear blueprint for expanding sustainable homeownership in historically underserved communities.
Homeownership has long been one of the primary ways families build wealth in this country. The equity built over time can provide greater financial security and create an asset that can be passed from one generation to the next. That is why expanding access to sustainable homeownership remains an important part of the economic mobility conversation.
The Opportunity Ahead
The message across all three studies is clear. We must meet people where they are on their journey to financial stability. But our longstanding housing shortage makes that harder. There simply aren’t enough opportunities for people to find decent homes they can afford while building toward a more secure financial future.
Building more housing is essential, but supply alone is not enough. We also need to make the housing we invest in work harder for the people who live there. That means supporting approaches that can strengthen properties, prevent evictions, help families build savings and create more pathways to homeownership and wealth.
For a modest investment, property owners, funders and policymakers can generate meaningful returns while helping more people become financially secure. That is an opportunity we cannot afford to pass up.