Homeless Children and Youth Act of 2014 - Amends the McKinney-Vento Homeless Assistance Act to redefine "homeless," "homeless individual," or "homeless person."

Modifies requirements relating to an individual or family who will imminently lose their housing, including housing they own, rent, or live in without paying rent.

Revises criteria for unaccompanied youth and homeless families with children and youth defined as homeless under other federal statutes to require that they:

• are certified as homeless by the director or designee of a program funded under any other federal statute; or
• have been certified by a director of a program funded under this Act or a director of a public housing agency (PHA) as lacking a fixed, regular, and adequate nighttime residence, which shall include: (1) temporarily sharing the housing of another person due to loss of housing, economic hardship, or other similar reason; or (2) living in a room in a motel or hotel.

Requires the information provided to the Secretary of Housing and Urban Development (HUD) from a collaborative applicant about project sponsors in a community-wide homeless management information system (HMIS) to be made publicly available on HUD's website in aggregate, non-personally identifying reports, and updated at least annually.

Prohibits the Secretary, in awarding grants for continuum of care programs, from considering or prioritizing the specific homeless populations intended to be served by the applicant if the applicant demonstrates that the project: (1) would meet the priorities identified in the applicant's plan, and (2) is cost-effective in meeting the overall goals and objectives identified in that plan.

Repeals certain requirements regarding collaborative applicants.

Modifies requirements for selection criteria for the award of grants through a national competition between geographic areas.

Requires annual reports to Congress on housing assistance for the homeless to include data: (1) required to be made publicly available in the HMIS report, and (2) on programs funded under other specified federal statutes.