Airbnb contributes $1M to advance affordable housing initiative in California as part of Housing Accelerator

Airbnb announced a $1 million contribution to the Yes on Prop 1 campaign, supporting the California ballot initiative that authorizes bonds for housing affordability programs. Californians will have a chance to vote on Proposition 1 in November-the Veterans and Affordable Housing Bond Act of 2026-which authorizes $11.25 billion in bond funding for programs that build and preserve affordable homes and expand homeownership opportunities. Airbnb's contributions makes it not only one of the top funders of the campaign, but also a leading player in the fight for affordable housing policy.

Our contribution to 'Yes on Prop 1', builds on new efforts to advocate for and invest in expanding housing production. Last week in Austin, Texas, Founder and CEO Brian Chesky launched Airbnb Housing Accelerator, a $250 million commitment to help build more housing across the country.

"We launched the Airbnb Housing Accelerator earlier this month to help get more housing built, through investment, advocacy, and innovation. Today, we are proud to support Prop 1 - California's effort to pair their recent improvements in zoning and permitting rules with the resources needed to get more homes built, the same comprehensive approach we've taken with the Airbnb Housing Accelerator but at a greater scale."

It has been historically difficult to build in California. Legislators like Buffy Wicks are spearheading efforts to change this by passing some of the most significant housing reforms in the state's history that require cities to allow apartments near transit, make Accessory Dwelling Units (ADUs) legal in more places, and cut the red tape that makes permitting take years.

Today, around 750,000 homes across the country are ready to break ground and are unable to do so because they're a few million dollars short of financing. While reform is necessary and crucial, the Housing Accelerator taught us that investments are also needed to build homes.

Airbnb is proud to support Proposition 1, which would:

• Authorize $11.25 billion in bond funding for housing programs.
• Help create and preserve housing to help those who are one crisis away from homelessness stay off the streets.
• Fast-track 40,000+ shovel-ready affordable homes, stalled only by funding
• Expand homeownership for working families and essential workers like firefighters, nurses, and teachers
• Honor our veterans with dedicated housing investment
• Unlock federal matching funds.

Our support for Prop 1 builds on our commitment to partner on real solutions to address housing challenges in California, including: partnering with the Housing Action Coalition, and supporting other pro housing ballot measures. This new initiative would help California communities address housing shortages that are driving up the cost of living for residents, including Airbnb hosts who live in hundreds of cities and counties across the state. To that end, we're encouraging Airbnb hosts in California to join us in supporting this transformational affordable housing measure.

"Ending our affordability and displacement crisis means building homes at every income level. We're grateful to Airbnb for backing Prop 1's critical investment in Affordable Housing, and for making the case to voters to say yes."

Paid for by Airbnb, Inc.