One of the key resources for financing affordable housing is the HOME program, a federal entitlement program provided by the U.S. Department of Housing & Urban Development

HOME funds are allocated to the City of San Diego on an annual basis. Approximately $8.5 million is available each year locally. In addition to financing loans and grants to developers for affordable housing, HOME funds are also used for first-time homebuyer programs, housing rehabilitation, tenant-based rental assistance, and program administration.

At least 15 percent of these funds are reserved for use by Community Housing Development Organizations (CHDOs).

Affordable rental housing developments that use HOME funds must set aside a minimum of 20 percent of the units for households earning no more than 50 percent of the Area Median Income (AMI). For-sale developments that use HOME funds must make units available to households earning at or below 80 percent AMI.