Low-income families can spend 20% or more of their income on energy. High energy costs in multifamily housing make it difficult for owners to sustain affordable rental housing for low-income families. The cost of utilities is the largest controllable operating expense in multifamily housing. Efficiency investments in multifamily affordable housing mean energy savings, lower energy bills, more stable rental payments, reduced pollution, and a better quality of life for residents.
Despite these many benefits, efficiency measures are far less likely to be taken in multifamily rentals than in any other type of housing. That is why in the fall of 2013, the National Housing Trust, Natural Resources Defense Council, Energy Foundation, and Elevate Energy came together to launch the Energy Efficiency for All (EEFA).
EEFA brings together expertise in affordable housing, energy efficiency, community development, finance, and utility engagement. We collaborate with state and local groups across the country, delivering tools and resources that help increase energy efficiency investments in their states’ affordable multifamily housing.
Citi Innovations is a 2-year initiative to promote energy efficiency and financial stability in multifamily low-income housing located in the Washington, D.C. market.The first component of the Citi Innovations work is headed by the EEFA Team at NHT. The second component of the Citi Innovations work, headed by NHT-Enterprise, is to promote greater financial stability in affordable housing communities through financial literacy courses. Click here for more information about our Citi Innovations work.