State of California Budgets $500 Million for Affordable Student Housing

Last week, California lawmakers approved a housing program that would provide $500 million of the state’s budget to public colleges and universities for the development or renovation of affordable housing for students.

The program is awaiting Governor Gavin Newsom’s signature, and would include: 

  • A grant process that colleges apply for, committing 50 percent of funding to community colleges, 30 percent to California State University and 20 percent to the University of California; and
  • capping rents for low-income students at a low percentage of what the median income is in each area — for example, in Los Angeles, monthly rents would be $700 per-student — according to reports by CalMatters