Hurricane Katrina Victims Emergency Shelter Act of 2005 - Directs the Secretary of Housing and Urban Development (HUD) to make single family properties held by HUD pursuant to foreclosure under the Federal Housing Administration (FHA) mortgage insurance program available to a person or family whose primary residence as of August 29, 2005, was in a disaster-designated area pursuant to Hurricane Katrina and was destroyed or otherwise made inhabitable.
Provides: (1) that for the first six months after enactment of this Act the Secretary may not dispose of such properties except to an eligible family; (2) that for the 18 months following such six month period the Secretary shall make such properties that are not under a disposition agreement available to eligible families; (3) for five-year rent free occupancy, with an option to purchase; and (4) program outreach activities.
Directs the Secretary to establish selection criteria for a property for which more than one family has submitted a request, with preference for families having incomes not exceeding the median income for the area in which the family's primary residence was located.