California officials announced more than $414 million in funding on Monday to build or rehabilitate 2,099 homes across 16 counties, with most of the homes reserved for low- and extremely low-income residents.

Of those, 794 will be reserved for households earning up to 30% of the area median income, 866 for those earning 31% to 50%, and 408 for households earning 51% to 80%.

“We cannot solve either the homelessness or housing affordability crisis without creating new housing. Today’s announcement will create thousands of new homes for California families, helping hundreds of thousands of people access housing,” Gov. Gavin Newsom said in a statement.

Housing affordability isn’t anything new to the Golden State. A June study of housing affordability reveals that the income needed to buy a

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