On the ballot this November —
Vote YES on Proposition 1
About Proposition 1
Proposition 1 — the Veterans and Affordable Housing Bond Act of 2026 — authorizes $11.25 billion in bond funding for programs that build and preserve affordable homes and expand homeownership opportunities, without raising taxes.
Prop 1 unlocks federal matching funds, bringing tax dollars we send to Washington back home to California.
Proposition 1 fast-tracks construction — funding more than 40,000 shovel-ready affordable homes, turning projects stalled only by a lack of funding into homes for lower-income families.
This measure will benefit veterans, low-income seniors on fixed incomes, survivors of domestic violence and their families, at risk and foster youth, working families, and people with disabilities.
Where the Money Goes
Multifamily Housing Program: The backbone of the investment — $5.1 billion to fund affordable housing construction across the state.
Veterans housing. Helps those who served buy affordable homes through the CalVet Home Loan Program, with $1.25 billion dedicated solely to veterans.
Supportive housing: Pairs homes with services that people experiencing homelessness need to maintain long-term housing stability, backed by $1.15 billion.
Portfolio Reinvestment Program: Preserves and extends the life of existing affordable homes — $750 million.
CalHome: Expands homeownership for low-income families by investing $600 million in affordable home construction, rehabilitation, and homebuyer assistance.
Home Purchase Assistance Fund: Gives first-time homebuyers a one-time boost through $500 million in support.
Infill Infrastructure Grants: Invests $500 million to build vital infrastructure and parks needed to accommodate new homes in already-developed areas near jobs and transit.
Farmworker housing: Sets aside $450 million through the Joe Serna, Jr. Farmworker Housing Grant Fund.
Student housing: Directs $350 million toward new affordable housing to ease the cost burden on college students.
Tribal housing, local housing trust funds, and buying and fixing up existing homes so they become affordable long-term. Each backed by $200 million.
Why it Matters
Only 22% of California households can afford a median-priced home.
More than half of renters spend over 30% of their income on rent.
1.6 million Californians pay over half of their income to rent, making them severely at risk for homelessness.
Yet less than one percent of the state's budget currently goes to housing.
Prop. 1 dedicates $1.25 billion solely to veterans' housing and homeownership opportunities through the CalVet Home Loan Program, which has helped nearly a million veterans and their families.
Honoring Our Veterans
“California has one of the largest populations of homeless veterans in the nation. After their service, our veterans deserve a place to call home. Prop 1 delivers on that promise.”
Helping Seniors and Our Most Vulnerable
Prop. 1 creates and preserves housing for low-income seniors on fixed incomes, survivors of domestic violence and their families, veterans, at-risk and foster youth experiencing homelessness, and people with disabilities — all of whom deserve safe and stable homes.
Building Homes Working Families Can Afford
All over California, working families and essential workers are being priced out and left behind: the teacher in your child’s classroom, the firefighter who protects your neighborhood, first-time homebuyers, low- and middle-income Californians, and the nurse at your local hospital can no longer afford to live in most California communities. Prop. 1 builds more homes working people can actually afford.
No New Taxes
Prop. 1 doesn’t raise taxes – the measure unlocks federal matching funds, bringing tax dollars we send to Washington back home to California.
Strict Accountability
Every dollar comes with clear requirements. Voters will be able to see exactly how many homes get built, where, and at what cost.
This November, Vote YES on Proposition 1
