The Housing for the 21st Century Act advanced in the House on Wednesday after a markup by the Financial Services Committee, setting the stage for a potential floor vote in early 2026.
Lawmakers also unanimously passed a separate bill extending the authorization of the National Flood Insurance Program (NFIP). H.R. 5577 extends the program through Sept. 30, 2026.
The Housing for the 21st Century Act is sponsored by by Financial Services Committee Chairman French Hill (R-Ark.), Ranking Member Maxine Waters (D-Calif.), Rep. Mike Flood (R-Neb.) and Rep. Emanuel Cleaver (D-Mo.). It aims to boost housing supply and improve affordability by modernizing federal housing programs and reducing regulatory barriers.
“Housing affordability remains one of the most pressing challenges facing aspiring homeowners, renters, and communities,” Bob Broeksmit, president and CEO of the Mortgage Bankers Association (MBA), said in a statement. “Today’s overwhelmingly bipartisan vote in the House Financial Services Committee is a significant milestone.”
Broeksmit said the bill advances several long-standing MBA priorities, including updates to Federal Housing Administration (FHA) multifamily loan limits, targeted improvements to rural housing programs and stronger coordination among federal agencies.
“Many of these priorities align with proposals advanced by the Senate Banking Committee’s ROAD to Housing Act, underscoring a shared, bipartisan commitment in both chambers to tackling our nation’s housing challenges,” he added.
David M. Dworkin, president and CEO of the National Housing Conference (NHC), also also praised the bill, citing growing affordability pressures. He noted that the median U.S. household income is now sufficient to buy a home in only 128 metropolitan statistical areas, down from 287 in 2019.
“By modernizing outdated housing programs, reducing unnecessary barriers to development, and increasing flexibility for local communities, the Housing for the 21st Century Act helps create the conditions needed to build and preserve more affordable homes across America,” Dworkin said in a statement. “The bill also appropriately emphasizes transparency, consumer protections, and accountability.”
The Housing for the 21st Century Act is the House counterpart to the Senate-approved ROAD to Housing Act, which was ultimately excluded from the 2026 National Defense Authorization Act.
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