Youngkin announces new round of funding for Va. Workforce Housing Investment Program

Pictured: Governor Glenn Youngkin alongside Secretary of Commerce and Trade Juan Pablo Segura, Virginia Housing CEO Tammy Neale, and Director of Virginia Department of Housing and Community Development Maggie Beal at Virginia Workforce Housing Investment Program announcement on October 7, 2025. Official Photo by Kaitlyn DeHarde, Office of Governor Glenn Youngkin.

Program focuses on increasing middle-income housing in areas of economic investment across the Commonwealth

Governor Glenn Youngkin on Wednesday announced a new round of funding for the Virginia Workforce Housing Investment Program to support workforce housing development across the Commonwealth. The program commits $75 million over five years, with the potential to leverage $750 million in private investment and create 5,000 workforce housing units tied to economic development projects. The additional $15 million announced will accelerate capital deployment but will not alter the program’s total funding commitment.

“We are delivering needed workforce housing supply in partnership with the private sector and localities,” said Governor Youngkin. “Nearly one year ago, we launched the Virginia Workforce Housing Investment Program to align housing development with the tremendous economic growth across the Commonwealth. Through this innovative program, Virginia is building affordable housing to support economic growth, strengthen communities, and ensure Virginians have the housing necessary to build their future.”

Administered by Virginia Housing, the Workforce Housing Investment Program provides loans, subsidies, and grants to communities developing homes for individuals and families earning between 80 and 120 percent of the Area Median Income (AMI), or up to 150 percent in rural areas. Awards of up to $3 million are available to localities near new or expanding businesses where a qualified job announcement has been made within the previous fiscal year, while transformational projects involving 500 or more new jobs may receive up to $5 million. Recent program updates expand eligibility for rural communities and increase flexibility for matching funds.

“The bedrock of thriving communities and lasting success throughout the Commonwealth lies in the creation of affordable, high-quality housing,” said Secretary of Commerce and Trade Juan Pablo Segura. “The Workforce Housing Investment Program complements the investments of companies moving to or expanding in Virginia to ensure adequate housing for employees.”

Governor Youngkin established the Workforce Housing Investment Program under Executive Order 42, linking economic development initiatives to workforce housing supply. The first round of awards, announced in May, distributed $16.9 million to ten localities. “Housing is the foundation of economic vitality, and companies want to locate where their employees can live and thrive,” said Virginia Housing CEO Tammy Neale. “With these updates, we continue to invest in workforce housing to support economic growth and keep our workforce talent rooted in Virginia.”

Additional details about the program are available at VirginiaHousing.com.