HUD commissioned this study to develop a broad, national view of the characteristics and outcomes of voucher homeownership (VHO) programs. Topics covered in this report are program planning and design; financing homeownership; characteristics of VHO purchasers and their neighborhoods; characteristics of housing markets in VHO communities; and the relationship between program and market factors and the rate of home purchase.

The primary objective of the present study was to provide a broad, statistically accurate picture of the VHO program nationwide, based on in-depth case study assessments of 10 selected sites operating particularly active or noteworthy programs and a survey of 206 public housing authorities (PHA's) that have reported at least one VHO purchase.