Bank of America provided $7.4 billion in debt and equity financing for affordable housing in 2025 while continuing its focus on linking health and housing.
The recent activity supported 87 developments with more than 11,000 affordable homes in 68 cities across 21 states, announced bank officials.
“When we talk about affordable housing, we’re talking about the foundation for a better future,” says Maria Barry, national executive of Community Development Banking at Bank of America. The housing we help finance improves stability and creates long‑term opportunities for individuals and families.”
The annual results reinforce BofA’s role as a reliable and consistent financing partner in affordable housing, according to Barry.
She notes the bank financed 39 developments, representing 3,700 units, with a health care component such as access to primary and preventive care, health and wellness education, and supportive services.
“The connection between health and housing is so strong,” Barry says. “Starting with having a safe, affordable place to live helps people begin to build up the other parts of their lives, including their jobs and having access to opportunities to maintain and improve their health.”
The bank hosted, “A Meeting at the Intersection of Health and Housing,” a first-of-its-kind thought leadership event in Boston that connected health care systems, affordable housing developers, and community leaders to discuss how to create better health and housing outcomes. This series is expanding to additional cities this year.
In addition, the annual activity included financing for 1,400 senior and 9,500 family housing units.
Banc of America Community Development Co. also closed $357 million in direct and fund equity investments for workforce and middle‑income housing, generally up to 120% of the area median income. The direct investments provide equity for properties located across California, Colorado, Florida, Georgia, North Carolina, Texas, and Virginia and will create over 3,400 new attainable housing units for working individuals and families to help address the severe workforce housing shortages in some of the most competitive housing markets.
Looking at this year, Barry expects her team to match or slightly exceed its 2025 volume, citing a full pipeline built through early deal structuring with clients and the long timelines typical of affordable housing transactions.
“Our goal is to be really consistent delivering for our clients and communities,” she says.
Since 2020, the company has provided more than $42 billion in financing, creating and preserving more than 74,000 housing units in 335 cities across 40 states.