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Housing policy can play an important role in improving or impeding the economic well-being of low-income households. Through this paper, we aim to better equip researchers, policymakers, and practitioners for conversations about the links between housing policy and economic mobility. The first half of this paper clarifies common definitions and measurements of inequality and mobility. Adopting the lens of economic mobility for examining how housing policies can address challenges of inequality in society today, the second half of the paper looks at five categories of housing policy levers that affect economic mobility: tax policy, block grants, rental assistance, fair housing, and homeownership programs.