The Virginia Housing Alliance (VHA) announces that it helped secure over $92 million in new investments from the Virginia General Assembly for affordable housing and homeless services. The 2027-2028 biennium budget, which was signed by Governor Spanberger on June 29th, 2026, includes new increases to the Virginia Housing Trust Fund, funding to help stabilize homeless services providers, significantly-expanded eviction prevention resources, and a slight increase in rental assistance for Virginians with intellectual or developmental disabilities. 

“Thanks to the support of our partners, member organizations and the Virginia General Assembly, this new budget represents a significant increase in funding for Virginia’s most vulnerable populations,” said Brian Koziol, Executive Director of the Virginia Housing Alliance. “Providing Virginia residents with safe, affordable places to call home is critical to our future. Housing touches our everyday lives more than we realize. From health outcomes to education, and even access to employment, housing is at the root of the Virginia economy and the well-being of our fellow residents.”

These new investments in affordable housing and homeless services include: 

• A $40 million increase in FY27 funding for the Virginia Housing Trust Fund
• $11.5 million for the Virginia Eviction Reduction Program (VERP) in FY27
• A $7 million investment in FY27 for Rapid Rehousing (RRH) and Continuum of Care (CoC) programs that serve Virginians experiencing homelessness 
• An additional $1 million of funding per year in FY27-28 for the State Rental Assistance Program (SRAP), which helps provide housing for Virginians with intellectual or developmental disabilities

To learn more about VHA’s policy and budget priorities during the 2026 Legislative Session, be sure to check out our General Assembly Wrap-Up Summary.