Over half a million people experience homelessness in the United States each year. The policy response has been to provide short-term solutions, like shelters, as well as long-term housing solutions, such as housing subsidies or permanent supportive housing. This policy brief and related working paper focus on time-limited subsidy (TLS) programs, often referred to as Rapid Re-housing (RRH). TLS programs help individuals move into market rentals and financially support their tenancy, with typical two-year time limits. Our study estimates the impact of TLS over a four-year period for 3,677 adults who were enrolled in TLS in Los Angeles County. Sixty-two percent of TLS participants received the intended financial assistance to move into a rental unit. Our study sample includes all enrollees in the program, not just people who moved in and received the subsidy, which is necessary for the research design and relevant for understanding the effects for all who were enrolled.