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119-s-2668119th CongressWALLET

HOME Act of 2025

Sponsored By: Senator Rosen, Jacky [D-NV]

Introduced

Summary

This bill would create a federal framework to identify, prevent, and remediate price gouging and anti-competitive practices in single-family and rental housing during declared affordable housing crisis periods. It centers on curbing price gouging and market manipulation in single-family and rental housing when HUD declares an affordable housing crisis.

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  • Families and renters would get a clear prohibition on unconscionable rent or sale price spikes during crisis periods, with prohibitions limited to 30 consecutive days and renewable in 30-day increments, and allowed up to 1 week before a reasonably foreseeable crisis.
  • Low-income households could benefit from penalties redirected to the Housing Trust Fund to help increase or preserve rental housing for extremely low- and very low-income families, including homeless families. The bill also provides a $1.0 million FY2024 appropriation for HUD's market investigation and report.
  • Investors and regulators face new oversight: HUD would create a Housing Monitoring and Enforcement Unit, investigate purchases that exceed 5% of available single-family homes in 3 years or 25% by institutional investors in 1 year, and coordinate with the FTC, CFPB, and state attorneys general on unfair practices and screening rules.

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Bill Overview

Analyzed Economic Effects

5 provisions identified: 5 benefits, 0 costs, 0 mixed.

Limits on unconscionable housing prices

If enacted, HUD could declare an "affordable housing crisis." During that crisis, it would be unlawful to charge unconscionably high rent or sale prices. The rule would cover single‑family homes with 1–4 units but not condos or co‑ops. The ban could run for 30 consecutive days and be renewed in 30‑day periods. HUD could investigate and enforce penalties that would go to the Housing Trust Fund. Sellers or landlords could defend price rises that reflect real added costs or risks.

Antitrust review of housing markets

If enacted, the Attorney General and FTC would review competition in single‑family and rental markets. They would look for anti‑competitive conduct and harmful information sharing. They must report to Congress within one year.

HUD housing market monitoring unit

If enacted, HUD would create a Housing Monitoring and Enforcement Unit. The Unit would collect and analyze rental and sale data and investor purchases. HUD must investigate when one buyer gets over 5% of homes for sale in three years. HUD must also watch if institutional investors buy over 25% of homes for sale in one year. HUD must report to Congress within 270 days. The bill would authorize $1,000,000 for this work in FY2024.

Rules for multifamily mortgage purchases

If enacted, the FHFA Director would write rules for Fannie Mae and Freddie Mac to buy multifamily mortgage loans. The rules must protect renters and help prevent big rent increases. FHFA must adopt rules after public notice, comment, and a hearing.

Study of unfair tenant screening

If enacted, HUD, the FTC, and CFPB would collect data on tenant screening practices. They would study background checks, algorithmic screening, adverse action notices, and use of income‑source data. The agencies would report to Congress each year.

Sponsors & CoSponsors

Sponsor

Rosen, Jacky [D-NV]

NV • D

Cosponsors

  • Sen. Klobuchar, Amy [D-MN]

    MN • D

    Sponsored 11/20/2025

Roll Call Votes

No roll call votes available for this bill.

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