PHARE is the Pennsylvania Housing Affordability and Rehabilitation Enhancement Fund, administered by the Pennsylvania Housing Finance Authority (PHFA).
Also known as the state housing trust fund, PHARE delivers tens of millions each year to communities in every county to expand low income housing, prevent homelessness, remediate blight, and promote home ownership.
PHARE’s primary source of funding is the Realty Transfer Tax (RTT), a 1% tax on real estate transactions in Pennsylvania. A strong housing market has resulted in a burgeoning RTT revenue stream, more of which can be invested in PHARE. Available revenue now far exceeds the current $40 million funding cap.
Without greater investment, our communities risk being left behind with a shrinking housing stock and rising construction costs. Now is the time to ask the General Assembly to raise the cap on PHARE funding to meet the needs of low income and homeless Pennsylvanians.
PHARE has a positive impact on the economy with an estimated 200 jobs created for every $10 million spent. PHARE funding is consistently leveraged 6:1 for outside private and public investments. Furthermore, an affordable home is the foundation for economic mobility for thousands of Pennsylvania families.
We invite you to join our advocacy efforts to raise the cap on PHARE funding in 2022. Please use the buttons at the top of the page to download a PHARE Fact Sheet and a draft letter to contact your legislator.