Novogradac & Company

Housing Credit Improves Lives, Boosts Economy and Saves Government Money

Notable landmark research by Dennis Culhane, a professor with the University of Pennsylvania’s School of Social Policy & Practice, investigated government costs associated with chronic homelessness. His 2002 study found that in 1999, a mentally ill homeless person in New York City cost the federal, state and city governments $40,449 per person per year, and placing that person in supportive housing with services reduced that annual cost by $16,282 per home.