CALIFORNIA – The Federal Home Loan Bank of San Francisco awarded $49.7 million in Affordable Housing Program (AHP) grants to support 31 developments across California, Arizona, and Nevada. 

This will create more than 2,050 units of affordable housing throughout the bank’s three-state region.

“This funding, delivered in partnership with our local member financial institutions, supports housing affordability solutions in urban centers, rural areas, tribal lands, and communities in need,” said FHLBank San Francisco CEO Joseph E. Amato.

In California, there are 24 available homes for every 100 extremely low income households

According to the National Low Income Housing Coalition, the U.S. is experiencing a significant affordable housing shortfall with only 35 affordable homes for every 100 extremely low-income households nationwide.

In California, Arizona, and Nevada, this shortfall is exacerbated. 

California has 24 affordable homes for every 100 extremely low-income households.

Extremely low-income is defined as 30% of the area median income. For example, a family of four in San Bernardino County earning $33,550 qualifies as extremely low-income.

This year, FHLBank San Francisco’s AHP General Fund will award $44.6 million in funding for 26 projects – 22 in California and four in Arizona, creating 1,780 affordable housing units.

The grants support affordable housing for those in need, including low-income families, seniors, veterans, at-risk youth, and people facing homelessness, disabilities or addiction recovery.

Three communities will be built on California’s Excess Sites 

AHP grants are awarded annually through a competitive process, where FHLBank San Francisco members team up with nonprofits and housing developers to submit proposals.

Highlights of the 2025 AHP funding competition include:

• Over $10 million awarded to six projects combining affordable housing with mixed-use spaces and childcare, job training, community services and local businesses.
• Six new communities will be built on underused government land, including three that are part of California’s Excess Sites program, through state and local partnerships.
• $10.4 million will support six Tribal-led projects – 5 in California, one in Arizona, creating 191 affordable homes for seniors, low-income families and the formerly unhoused, with shared spaces and supportive services.

Where AHP projects are developed, local economies also get a boost, as these projects create jobs, increase construction and consumer spending, and generate new tax revenues.

For a complete list of grant winners visit https://www.fhlbsf.com/products/community-programs-grants/ahp/ahp-project-info