#United States #New York #Bank of America #affordable housing #Community Development

Bank of America Promotes Affordable Housing with $7.4 Billion Investment

In a significant move to combat the growing need for affordable housing, Bank of America Community Development Banking announced its substantial investment of $7.4 billion in 2025. This funding will lead to the creation of more than 11,000 affordable housing units in 68 cities across 21 states in the United States. The investment underscores Bank of America’s long-standing commitment to community development and improving access to safe and affordable living conditions for the most vulnerable populations, including families, seniors, and those experiencing homelessness.

Since 2020, Bank of America has channeled an impressive $42 billion towards financing more than 74,000 housing units in 335 cities across 40 states. Maria Barry, the National Executive of Community Development Banking at Bank of America, emphasized the importance of affordable housing as a foundation for a better future. She stated, “The housing we help finance improves stability and creates long-term opportunities for individuals and families.”

Stable housing is closely linked with enhanced physical, mental, and financial wellness for both individuals and communities. In 2025, the bank financed 39 developments that included a healthcare component, totaling 3,700 housing units. These initiatives aim to provide residents access to health education, primary and preventative care, and supportive services. Moreover, the bank organized a pioneering event in Boston titled **