(Washington, D.C.) – The African American Mayors Association (AAMA) today welcomed the enactment of the 21st Century ROAD to Housing Act, calling it the most significant bipartisan federal housing legislation in decades, an important step toward addressing America’s housing affordability crisis, expanding the housing supply, and creating new pathways to homeownership for working families and historically underserved communities.

“For years, mayors across the country have been on the frontlines of a growing housing emergency with limited federal tools to meet the scale of the challenge,” said AAMA President and Baltimore Mayor Brandon M. Scott. “With the enactment of the 21st Century ROAD to Housing Act, Congress has delivered a meaningful step forward in federal housing policy for the first time in a generation. This legislation begins to match the urgency cities have been facing every day.”

“While each of our cities face a unique mosaic of challenges, with this legislation, Congress has taken an important bipartisan step toward addressing many of the structural issues driving housing shortages nationwide,” Scott continued. “By focusing on supply, updating outdated programs, creating new pathways to homeownership, and working to address concerns about investors crowding out families from the market, this law provides a stronger foundation for cities to deliver results for working families and historically underserved communities.”

The need for action is particularly urgent in communities of color. According to Harvard’s Joint Center for Housing Studies, the Black homeownership rate remains roughly 41.7 percent, compared with approximately 71.7 percent for white households, a homeownership gap of nearly 30 percentage points, one of the largest racial wealth disparities in the country. Black households are significantly more likely to be burdened by housing costs, with many having to spend more than 30 percent of their household income on housing, reducing their financial flexibility.

The legislation includes provisions to increase housing supply, modernize federal housing programs, and expand access to manufactured housing, key priorities identified by local leaders grappling with rising costs and limited inventory.

AAMA also pointed to provisions aimed at curbing the growing role of institutional investors in the single-family housing market, which has contributed to rising costs and reduced access to homeownership in many communities, and which AAMA has previously pointed to as an essential portion of the legislation.

“AAMA’s mayors stand ready to partner with Congress, HUD, and local leaders to turn this legislation into more homes, more homeowners and stronger communities,” Scott concluded.