Freddie Mac's multifamily financing volume reached $66 billion in 2024, reflecting a 34% increase compared to 2023, with $65 billion in multifamily financing and $1 billion in Low-Income Housing Tax Credit (LIHTC) equity investments, according to data released by the company.
The company reported that 65% of its 2024 production volume qualified as mission-driven affordable housing, exceeding the Federal Housing Finance Agency's (FHFA) target of 50%. Freddie Mac financed 507,191 affordable rental units, with over 65% of eligible units affordable for low-income residents earning less than 80% of area median income (AMI) and more than 15% affordable for very low-income residents earning 50% of AMI or lower.
Freddie Mac Multifamily’s Targeted Affordable Housing volume reached $17 billion in 2024, financing nearly 133,000 rent-restricted units. The company supported the creation of affordable units for over 23,000 families, the rehabilitation of more than 10,000 units, and preserved affordability without subsidy for nearly 11,000 families.
Forward commitments led to the creation of 23,153 affordable and workforce housing units in 2024. Additionally, Freddie Mac opened seven new credit facilities, adding $2 billion in new funding, a 64% rise from 2023.
Freddie Mac invested $1 billion in LIHTC equity investments in 2024, achieving its Duty to Serve goals. Since 2018, the company has committed over $5 billion in LIHTC equity, supporting more than 33,000 affordable units.
