For homes San Franciscans can afford
Prop C FAQ: San Francisco Housing Trust Fund Renewal
Renews funding to build and preserve affordable homes in San Francisco — with no new taxes.
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What is Prop C?
Prop C is a November 2026 San Francisco ballot measure that renews the city's Housing Trust Fund, the dedicated funding source the city has used for over a decade to build and preserve affordable housing. It extends the fund through 2058, grows annual funding toward $125 million, expands downpayment assistance to reach further into the middle class, funds rent assistance for seniors and at-risk tenants, and supports converting vacant lots into housing along with the infrastructure that housing depends on.
Does Prop C raise taxes?
No. Prop C does not create any new tax or raise an existing one. It renews funding the city already collects and appropriates each year for housing. The measure does change how the city calculates its annual contribution going forward, tying future funding to growth in local property tax revenue or the General Fund, whichever is greater, so the fund keeps pace with the city's own growth.
How much funding does the Housing Trust Fund provide?
Contributions grow from $50.8 million last year toward $125 million a year. After reaching that level, increases are capped at 3% annually. The fund also leverages state and federal matching dollars at a ratio of at least 3:1, meaning every dollar San Francisco commits helps unlock several more dollars from outside sources for affordable housing.
When does Prop C expire without renewal?
The current Housing Trust Fund is set to expire in 2043. Prop C extends it through 2058, locking in a dedicated source of affordable housing funding for another generation.
Who qualifies for downpayment assistance under Prop C?
Today, downpayment assistance is limited to households earning up to 120% of the Area Median Income (AMI). Prop C raises that limit to 200% of AMI and lets the Board of Supervisors adjust it by ordinance going forward, extending eligibility to teachers, firefighters, and other first responders who currently earn too much to qualify but not enough to buy in today's market.
Does Prop C help renters, or only homebuyers?
Both. Beyond downpayment assistance for homebuyers, the fund provides rent assistance to help seniors and at-risk tenants stay in the homes and communities they've built over decades. That support extends to multigenerational households as well, helping keep grandparents, parents, and kids under one roof.
What can pause or reduce the city's contribution to the fund?
Contributions can pause during a projected city deficit above $250 million, and can be reduced by up to 10% in years when the city draws on its Rainy Day Reserve. These provisions protect the city's overall fiscal health while keeping the fund intact.
Can the money in the fund be spent on something other than housing?
No. Every dollar in the fund, both local and matched, and none of it can be redirected to other purposes without going back to voters for approval.
How does Prop C address vacant and blighted properties?
The measure funds the direct work of converting vacant and blighted lots into occupied homes. It also replaces the fund's former grant program for specific neighborhood improvements with broader authority to spend on affordable-housing-related infrastructure, including roads, sewers, and utilities, so new housing is built where transit, jobs, and services already exist.
Does Prop C support housing models beyond traditional homeownership and rentals?
Yes. The fund backs alternative ownership models such as community land trusts and co-ops that preserve naturally occurring affordable housing before it's lost to the market. It also supports safe, stable housing for people with disabilities and other vulnerable neighbors.