As the housing affordability crisis continues and city budgets tighten, more local governments have turned to bonds as a path to more housing,” according to a March 10 article by Ryan Kushner in Smart Cities Dive, a journalistic outlet.

Current examples cited by Kushner, include Philadelphia, with a $2 billion housing plan that “relies heavily on bonds and a $500 million affordable housing bond fund that was approved by Columbus, Ohio voters in 2025. 

Examples of housing bonds in the past may provide encouragement to new ventures. For example, Portland, with a $653 million 2018 bond issue has exceeded its original goal with over 2,100 units completed or in development, as of 2026.  

The Smart Cities Dive article focuses on Durham, North Carolina, which approved $95 million in bonds back in 2019, in order to help alleviate the affordable housing crunch there.

With nearly all of the affordable housing bond funds spent, some positive results are now in. As Smart Cities Dive explains, “That bond, paired with $65 million in federal and local funds, has so far helped spur 1,668 new affordable rental homes — 68 more than the city’s original goal. The city has also used the funding to preserve 888 housing units, surpassing its initial goal of 800.”

“The city also exceeded its goal of curbing homelessness,” according to Smart Cities Dive, reporting that more than 2,030 individuals have been moved into permanent housing under the Forever Home plan. That effort has been overseen by an affordable housing implementation committee. 

While city officials have pointed out significant progress, the goal of increasing home ownership for low-income individuals is still falling short of plans. Currently, 125 affordable homes have been produced for low-income buyers out of the target of 400 homes. 

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