Finland has nearly eradicated homelessness, reducing the number of homeless people from over 16,000 in 1989 to around 4,000 in 2020, which is 0.08% of the population.

Finland's success in reducing homelessness is attributed to a sustained national strategy and a 'Housing First' approach, which provides immediate, independent, permanent housing to those experiencing homelessness.

The Finnish strategy includes converting existing shelters into residential buildings with independent apartments and building new flats, supported by investment grants from Finland's Housing Finance and Development Centre.

Finland's approach integrates housing with social services, providing housing first to create a stable foundation for employment, health, and family assistance, which has resulted in annual public expenditure savings of EUR 9,600-15,000 per person.

Finland's integrated and balanced approach to tackling homelessness has made its system more resilient to shocks, such as the COVID-19 crisis, and offers lessons for other OECD countries.