Homelessness is universally regarded as an aversive condition, to be remedied by the provision of appropriate housing. However, although there are many reports of the negative effect of homelessness upon the mental health of homeless persons, relatively little has been reported regarding the change in mental health that might accompany being housed. To further understand that change, 71 previously-homeless persons from Regional Australia completed a series of questionnaires about their anxiety states when they were homeless and when they were housed. Results indicated that, although there was a major reduction in anxiety over that period, some participants did not change in their self-reported anxiety, and others reported that their anxiety had increased after being housed. Analysis of specific symptoms of anxiety revealed which aspects of anxiety had increased in some participants, and which had decreased in others. Implications for the matching of “person-to-housing-setting” are discussed, plus avenues for future research.