Conversion Ledger
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Built from HUD's public RAD data

Public housing RAD conversions, by housing authority

Which PHAs have converted, what they chose, how they paid for it, and what their remaining public housing would rent for under RAD in 2026.

Independent: operated by Janover Capital LLC, a commercial mortgage advisory firm. Not affiliated with, endorsed by or acting for HUD, the RAD Resource Desk, any housing authority or any government agency.

Open the tracker Check 2026 RAD rents

203,060 of 555,000 units

RAD's public housing cap rose to 555,000 units on July 11, 2026. Closed deals and the deals between CHAP and closing in HUD's RAD data, against that cap.

1,955closed conversions at 570 housing authorities
61%of converted units chose PBV over PBRA
48%of closed deals used low-income housing tax credits
$78,428median hard cost per unit, where reported
1,24813
11,90414
14,68615
29,62116
30,68417
22,09718
18,69819
16,26720
11,71421
11,53622
5,72823
5,66324
14,53225
8,68226

Units converted by closing year, 2013 to 2026 (to October 21, 2026).

Latest closings

All 2,619 records in the tracker (1,955 closed, 624 between CHAP and closing, the rest withdrawn or in review)

By state

What changed in 2026

RAD started in 2012 as a demonstration with a cap and a deadline, both raised again and again. The 21st Century ROAD to Housing Act, which became law on July 11, 2026, ended that cycle for public housing: the application window now runs "for fiscal year 2012 and each fiscal year thereafter," and the cap is 555,000 units, up from 455,000 (Public Law 119-101, section 212). The same section lets HUD require a standard tenant lease addendum, impose civil money penalties for violations, and publish findings on conversions every year.

HUD's own RAD notice still says 455,000 and 2029. Until HUD issues new guidance, the statute controls the cap and the deadline, and the notice controls everything else. What the new law changes and what it doesn't.

Short answers

Is RAD still taking new public housing conversions?

Yes. The 21st Century ROAD to Housing Act (Public Law 119-101, July 11, 2026) struck RAD's September 30, 2029 deadline, removing the end date for public housing conversions, and raised the unit cap from 455,000 to 555,000. HUD's RAD notices had not been updated to match as of October 2026.

What is the difference between PBV and PBRA in RAD?

Both are project-based Section 8 contracts. PBV is run by the housing authority's voucher program, starts with a 15 to 20 year contract, and caps initial rents at the lower of a reasonable rent or 110% of fair market rent, less utilities. PBRA is run by HUD's Office of Multifamily Housing, starts with a 20 year contract, and caps initial rents at 120% of fair market rent, less utilities.

Where does this data come from?

Conversion records come from the RAD Resource Desk's public property export, the system HUD uses to run RAD. Remaining public housing and 2026 RAD rents come from HUD's RAD Contract Rents Look-Up Tool. Each page shows the dates.

Is this site part of HUD?

No. It is operated by Janover Capital LLC, a commercial mortgage firm, and is not affiliated with or endorsed by HUD, the RAD Resource Desk or any housing authority.

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