What does RHIS mean in REGIONAL

Regional Housing Investment Strategy (RHIS): An Overview

What is RHIS?

RHIS is a strategy developed by state and local governments, in collaboration with housing authorities and community stakeholders, to identify and address housing needs within a specific region. It outlines goals, objectives, and specific actions to create, preserve, and maintain affordable housing for low- and moderate-income households.

Key Components of RHIS

• Needs Assessment: RHIS starts with a thorough assessment of housing needs in the region, including market analysis, data on homelessness and housing insecurity, and input from community members.
• Goals and Objectives: Based on the needs assessment, specific goals and objectives are established to guide investments and interventions. These goals often align with national and state housing policies.
• Strategies and Actions: RHIS outlines a range of strategies and actions to achieve the established goals. These may include:
  • Increasing affordable housing supply: Funding for new construction, rehabilitation, and acquisition of existing units.
  • Preserving existing affordable housing: Rent stabilization measures, financial assistance for homeowners, and protection against displacement.
  • Providing rental assistance: Subsidies, vouchers, and other forms of support to help low-income households afford rent.
  • Addressing homelessness: Support for shelters, transitional housing, and programs to prevent homelessness.
• Monitoring and Evaluation: RHIS includes a monitoring and evaluation plan to track progress and make necessary adjustments to ensure effectiveness.

Conclusion

RHIS is a valuable tool for addressing housing needs at a regional level. By providing a comprehensive framework for investment, collaboration, and evaluation, it helps ensure equitable access to safe and affordable housing for all. As a result, it contributes to community stability, economic development, and improved quality of life for residents.