California·Election: 2026-11-03Upcoming
Not yet voted on. Outcomes will be added after the election.
Authorizes $11.25 billion in state general obligation bonds for housing affordability programs, including for California veterans, and to finance housing development projects seeking federal tax credits. Allocates funds: $5.1 billion to build and rehabilitate multifamily rental housing; $2.1 billion to acquire, rehabilitate, or preserve affordable housing units, and provide supportive housing for those experiencing homelessness; $1.25 billion for state-funded mortgages for California veterans; $1.1 billion for homeownership and downpayment assistance; $1 billion for farmworker, tribal, and student housing; $500 million for housing infrastructure; and $200 million to support local housing programs. Summary of Legislative Analyst's Estimate of Net State and Local Government Fiscal Impact: Increased state cost of $500 million to $600 million annually for about 25 years to repay the housing bond.
Read full ballot textProp 1 (2024) is mentioned in this measure's official analysis (Legislative Analyst's Office (LAO)).
LAO analysis, Background: "The last statewide general obligation bond for affordable housing was approved by voters in 2024, providing $2 billion to provide housing for veterans and other people with mental health or substance use challenges who are facing homelessness."
3 of 17 claims have tracked results. See all Prop 1 (2024) claims from both sides
"Prop. 1 will expand community-based mental health and addiction services across the state and serve tens of thousands of Californians each year."
"The initiative will create supportive housing settings where over 11,000 Californians with the severest mental health needs can live, recover, stabilize and thrive."
"Prop. 1 will provide $1 billion to serve veterans experiencing homelessness, mental health and substance abuse issues."
From the official voter guide. Signers are the people each campaign chose to sign its argument, not a list of who paid for it (see “How much money” below).
Source: California Secretary of State
Source: California Secretary of State
$9,468,296.90
$0.00
Each claim states an intended outcome of the measure. Metrics are appended over time and never replaced — every entry keeps its original date and citation.
Proposition 1 allows the state to sell $11.25 billion in general obligation bonds: a $10 billion bond for state housing programs, repaid from the state General Fund, and a $1.25 billion bond for veterans' home loans, repaid by veterans' loan payments.
Source: Legislative Analyst's Office (LAO)Proposition 1 provides $7.2 billion to acquire, build, or renovate affordable rental housing, such as apartment buildings. Funded projects generally must reserve units for low-income households for 55 years.
Source: Legislative Analyst's Office (LAO)Proposition 1 provides $1.1 billion to support homeownership for low- and moderate-income households, including assistance for first-time homebuyers.
Source: Legislative Analyst's Office (LAO)Proposition 1 provides $1.25 billion for home loans to veterans through the state's veterans home loan program.
Source: Legislative Analyst's Office (LAO)Proposition 1 provides $450 million for farmworker housing, $350 million for affordable student housing at the University of California and California State University, and $200 million in housing grants to tribes.
Source: Legislative Analyst's Office (LAO)Proposition 1 provides $500 million for infrastructure that supports affordable housing developments, such as water, sewage, parks, and transportation improvements.
Source: Legislative Analyst's Office (LAO)Proposition 1 provides $200 million for local pilot projects aimed at developing housing at reduced costs.
Source: Legislative Analyst's Office (LAO)The Legislative Analyst estimated Proposition 1 would cost the state General Fund $500 million to $600 million annually for about 25 years to repay the $10 billion housing bond, about one-quarter of 1 percent of the General Fund budget.
Source: Legislative Analyst's Office (LAO)The Legislative Analyst estimated that, because the state pays interest on borrowed money, the total cost of the housing bond would be about 15 percent more, after adjusting for inflation, than paying up front.
Source: Legislative Analyst's Office (LAO)The Legislative Analyst estimated the bond funds would provide subsidies for up to 40,000 multifamily rental units, about 2,500 units for farmworkers, and about 1,200 beds for university students.
Source: Legislative Analyst's Office (LAO)The Legislative Analyst estimated the bond funds would help up to 40,000 households, including about 2,100 veterans, with homeownership.
Source: Legislative Analyst's Office (LAO)"Dedicates $1.25 billion solely to veterans' housing and homeownership opportunities through the existing CalVet Home Loan Program, which has already helped almost a million veterans and their families."
Source: California Secretary of State"Prop. 1 jumpstarts the construction of tens of thousands of shovel-ready affordable homes across California, quickly turning stalled construction into move-in ready homes."
Source: California Secretary of State"Prop. 1 builds more homes working people can actually afford."
Source: California Secretary of State"Prop. 1 creates and preserves housing to help those who are one crisis away from homelessness stay off the streets, low-income seniors on fixed incomes, survivors of domestic violence and their families, veterans, at risk and foster youth, and people with disabilities who all deserve safe and stable homes."
Source: California Secretary of State"Prop. 1 doesn't raise taxes..."
Source: California Secretary of State"Voters will be able to see exactly how many homes get built, where, and at what cost."
Source: California Secretary of State"Prop. 1 unlocks federal matching funds, bringing tax dollars we send to Washington back home to California."
Source: California Secretary of State