The Housing Affordability Challenge – launched by Wells Fargo and managed by Enterprise – invites innovators to help scale the next generation of affordable housing solutions. Below are answers to commonly asked questions about the challenge. To send us a question, email us at [email protected]. We’re here to help.

Q: When will the application be available and when is it due?

A: The application will be available on April 1, 2026, through a link on the Breakthrough Challenge’s web page. Completed applications must be submitted by May 15, 2026 (11:59 p.m. ET).

Q: How are you defining affordability?

A: We understand that affordability varies based on multiple factors, including geography and market conditions. We’re looking for innovations that address the needs of low- to moderate-income households:

• Rental housing: Households earning 80% of area median income (AMI) or below
• Homeownership: Households earning up to 120% AMI
• Workforce housing: Up to 120% AMI for both rental and homeownership

Q: How many winners will be selected? And how will they be distributed across the focus areas?

A: The challenge will award five winners in total, including at least one winner in each of the three focus areas. Winners will be announced in winter 2027.

Q: Is this a national competition, or are there geographic priorities?

A: Yes, the competition is open to a broad range of organizations across all 50 states and Washington, D.C. Priority scoring will be given to applications from organizations based in – or designing innovations for – these 28 states plus D.C.: 

Alaska, Arizona, Arkansas, California, Colorado, Florida, Georgia, Idaho, Illinois, Iowa, Maryland, Massachusetts, Minnesota, Montana, Nevada, New Jersey, New Mexico, New York, North Carolina, North Dakota, Pennsylvania, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, and Washington, D.C.

Q: Can organizations submit more than one application?

A: Yes. Organizations may submit multiple applications in the same or different focus areas, as long as each represents a distinct innovation. While organizations are permitted to submit more than one application, we encourage you to prioritize your strongest innovation. In addition, organizations must coordinate with their partners to select one lead applicant as we will not accept applications from different organizations for the same innovation.

Q: My innovation overlaps with two different focus areas. Can I apply for more than one focus area?

A: No. You must select the one primary focus area that best aligns with your innovation. The application does allow you to specify if your innovation overlaps with another focus area. However, there is no advantage or preference given to innovations addressing multiple focus areas.

Q: Are innovations involving single-family homes eligible?

A: Yes! Innovations involving single-family homes are eligible, as are innovations involving multifamily homes.

Q: Will you consider innovations related to homeownership?

A: Yes. Innovations can be related to both rental housing and homeownership.

Q: Can cities, states, or local jurisdictions apply?

A: Government agencies cannot serve as lead applicants and will need to identify a nonprofit with 501(c)(3) status that will serve as the lead applicant.

Q: Are applicants from Puerto Rico and the U.S. Virgin Islands eligible?

A: No. Applicants from Puerto Rico and the U.S. Virgin Islands are not eligible.

Q: If awarded, are there restrictions on how the funding can be spent?

A: Yes. Funding may not be used for individual real estate deals, transactions, or properties. We are looking for innovations with a plan for greater scale beyond the individual project level. The grant also may not be used to support lobbying activities.

Q: Are retrofit or rehab solutions eligible, or only new construction?

A: Both new construction and retrofit/rehab innovations are eligible.

Q: Are for-profit entities eligible to apply?

A: Yes. Mission-oriented for-profit entities are eligible.  

Q: What types of innovations fall under the Service Delivery and Programs focus area?

A: This focus area seeks solutions featuring comprehensive, person-centered programs that use housing as a platform to support broader outcomes – such as stability, empowerment, education, or workforce development. Eligible programs must demonstrate measurable impact and a clear path to replication or scaling.

Q: Will applicants compete across all focus areas or only within their selected focus area?

A: In Rounds 1 and 2, applicants will compete only within their selected focus area — Design and Construction, Finance, or Service Delivery and Programs. In Round 3, finalists from all focus areas will be evaluated together, and winners will be chosen from the combined pool of finalists.

Q: Are there any requirements for the size or age of the 501(c)(3)?

A: No. The only requirement is a valid IRS determination letter confirming 501(c)(3) status. Nonprofits of all sizes and ages may apply.

Q: What is the award size for this challenge? Will awards be disbursed in a lump sum or over time?

A: Each award is $2,000,000, disbursed according to a schedule jointly developed by Enterprise and each awardee. Funds will not be disbursed as a single lump sum.

Q: What will the grant period be?

A: The grant period runs from 2027 through 2029.

Q: Has this challenge been offered before?

A: Yes. This is the third cycle of the Housing Affordability Breakthrough Challenge launched by Wells Fargo and managed by Enterprise.

Q: How are you defining scalability?

A: We are defining scalability in two ways:

• Scaling Out: Extending the model to new populations, locations, or sectors through replication and adaptation. Examples: franchising models, integrating innovation components into existing programs, and expanding networks or partnerships.
• Scaling Up: Embedding the innovation into broader institutional or systems-level structures. Examples: creating new tools, frameworks, or funding mechanisms; and building networks that enable sector-wide adoption and collective action.