Best Affordable Housing Grants for Nonprofits in Iowa

Nonprofit 501(c) or 170(c) organizations working on equitable and affordable housing in Iowa can receive up to US $1,000 in matched donations through Regions Bank’s Matching Gifts Program for recent retirees. Eligible gifts from Regions retirees support economic and community development, including affordable housing, within the bank’s service footprint.

Iowa 501(c)(3) nonprofits working on affordable, stable housing or economic mobility can access funding through Bank of America Charitable Foundation’s Neighborhood Builders Program. Selected organizations receive a two-year leadership development experience plus a capacity-building grant to strengthen programs in income creation, workforce readiness, small business resiliency, and affordable housing solutions in eligible Iowa communities.

Nonprofit and community applicants in Iowa working on rural housing planning and policy can seek up to US $20,000 to improve local development codes, ordinances, and housing incentives. With a mission to strengthen rural communities, Iowa Economic Development Authority supports use of Rural Housing Readiness Assessment workshops and data-driven planning to attract housing developers.

Nonprofit 501(c)(3) organizations in Iowa working on basic needs, income creation, stable housing, or community empowerment can apply for local funding from Bank of America Charitable Foundation. Eligible groups must serve low- and moderate-income communities and be based in an approved market, supporting vulnerable populations through affordable housing and related community development efforts.

Nonprofit organizations in Iowa seeking support for affordable housing, neighborhood stability, or related community initiatives can apply for community sponsorships that fund events, general operations, and seasons. Focused on community impact, First National Bank of Omaha invites housing and community development nonprofits, including those serving underrepresented populations, to request support across its broader community focus areas.

Nonprofit organizations in Iowa planning capital campaigns or major projects for equitable and affordable housing can apply for First National Bank of Omaha’s capital or major donations. Funding supports construction, renovation, and other large-scale initiatives that strengthen community development, neighborhood stability, and related community focus areas in FNBO’s service communities.

With a mission to strengthen economic and community vitality, Iowa Economic Development Authority provides Iowa local governments with up to US $30,000 per unit to replace failing roofs on low- and moderate-income, owner-occupied homes. Cities and counties (excluding HUD entitlement areas) can apply to preserve and stabilize their community’s affordable housing stock.

Iowa communities working on workforce housing and affordable housing strategies can apply for the Iowa Thriving Communities initiative if they were invited after a pre-application. This Iowa Economic Development Authority and Iowa Finance Authority program recognizes communities showing best practices in planning, financing, and development, offering visibility and advantages when competing for related housing tax credits and programs.

Nonprofit 501(c) or 170(c) organizations in Iowa working on equitable and affordable housing and related community development can benefit from Regions Bank’s employee Matching Gifts Program. Eligible charities receive matched donations from full-time associates and recent retirees, supporting efforts like affordable housing, neighborhood revitalization, and other qualifying community initiatives within the Regions footprint.

Local governments, state agencies, public schools, universities, and eligible private nonprofits in Iowa can access funding for CDBG-DR eligible disaster recovery and buyout projects. Grants from Iowa Economic Development Authority help Iowa communities cover FEMA non-federal match requirements and enhance buyout efforts, with priority for low- and moderate-income areas and counties designated as most impacted and distressed.

With a mission to strengthen economic opportunity, First National Bank of Omaha provides Iowa nonprofits working on equitable and affordable housing, workforce development, and financial education with Impact Grants. Funding supports affordable housing and neighborhood revitalization, small business and job creation, and adult financial literacy, education, and vocational training in eligible FNBO communities.

Nonprofit 501(c)(3) organizations in Iowa working on equitable and affordable housing, supportive housing, or shelters may be eligible for grants that advance safe and affordable housing. Grants from US Bank Foundation help Iowa housing-focused nonprofits that also address economic advancement or community arts and culture, especially those led by people of color and serving designated U.S. Bank communities.

Focused on equitable and affordable housing, Iowa Health and Human Services invites Iowa housing developers to seek tax incentives for workforce housing projects. The Workforce Housing Tax Incentive Program offers up to US $1,000,000 in state investment tax credits and tax refunds for eligible new construction or rehabilitation that expands affordable workforce housing, including in smaller communities.

The Rural Innovation Grant program seeks to support creative ideas that address current issues and challenges faced by rural communities. This grant opportunity aims to increase available housing stock in rural Iowa by leveraging funding programs, driving private investment, and rewarding creative solutions. The goal is to provide funds to communities that have demonstrated significant progress on housing initiatives and that propose to bring innovation into implementation with a definitive outcome. 

This program is administered by the Center for Rural Revitalization, a division of the Iowa Economic Development Authority (IEDA), in consultation with the Governor’s Empower Rural Iowa Initiative Task Forces.

Iowa Economic Development Authority

Mission

Strengthen economic and community vitality by building partnerships and leveraging resources to make Iowa the choice for people and business. Through two main divisions – business development and community development – IEDA administers several state and federal programs to meet its goals of assisting individuals, communities and businesses. IEDA works to achieve its mission and goals to benefit Iowans while maintaining a high level of transparency. 

Rural Innovation Grant Program

The Rural Innovation Grant program seeks to support creative ideas that address current issues and challenges faced by rural communities. This grant opportunity aims to increase available housing stock in rural Iowa by leveraging funding programs, driving private investment, and rewarding creative solutions. The goal is to provide funds to communities that have demonstrated significant progress on housing initiatives and that propose to bring innovation into implementation with a definitive outcome. 

Funding is awarded on a reimbursement basis — grant recipients will be reimbursed only after eligible expenses have been incurred and paid for approved project activities during the designated time frame.

National Housing Trust Fund

Federal Resources, Local Compassion

It takes compassion and commitment to create and sustain affordable living options around Iowa. The National Housing Trust Fund does just that. The program, administered by the U.S. Department of Housing and Urban Development, complements existing federal, state and local efforts to increase and preserve the supply of affordable housing for extremely low-income and homeless families.

How Funds Are Used

Funds may be used for the production or preservation of permanent affordable rental housing through new construction, adaptive reuse and/or rehabilitation projects. Proposed projects addressing the needs of extremely low-income renters—those with incomes below 30% of Area Median Income (AMI)—are a high priority for the Iowa Finance Authority.

Iowa Finance Authority

At the Iowa Finance Authority, we turn small actions into big reactions. From mortgages and rental programs, to beginning farmers -- we impact all Iowans.

Project-Based Housing Program

The Project-Based Housing Program assists locally supported affordable housing projects that are not eligible to receive funding under a Local Housing Trust Fund’s Housing Assistance Plan.

Program Requirements

For projects benefiting eligible recipients, program funding must not exceed 75% of the total project budget, excluding administrative and developer fee line items.

For affordable housing projects benefiting extremely low-income recipients, program funding may not exceed 90% of the total project budget, excluding administrative and developer fee line items.

Investing in Our Communities

Regions Bank and Regions Foundation are committed to helping individuals, families, and businesses achieve financial success.

We work alongside nonprofit organizations, local businesses, government and service agencies to address social and economic issues, assist in building inclusive economic prosperity and help more members of our communities benefit from the rewards of a growing economy.

We make strategic and disciplined community investments in programs that seek to achieve three target outcomes:

Economic and Community Development

• Affordable housing
• Job creation
• Small business development
• Homebuyer education and retention
• Neighborhood revitalization and stabilization

Education and Workforce Readiness

• Student competency and skill building
• College and career readiness
• Educational access and success
• Credential building and employment
• Educator training and resources

Financial Wellness

• Financial education to youth, adults, and vulnerable populations
• Financial planning tools and resources, including Regions Next Step®
• Integrated asset-building

Enterprise Community Partners

Enterprise Community Partners is a national nonprofit that exists to make a good home possible for the millions of families without one. Home is where life happens, where plans are made, and futures begin. It is the foundation for dignity, health, education, wealth, and community. Yet rents keep going up, paychecks don’t keep pace, and good homes in strong neighborhoods are increasingly out of reach.

The system doesn’t work. It must be changed, and it must be changed by us.

Enterprise has the breadth, scale, and expertise to do it. We support community development organizations on the ground. We aggregate and invest billions to improve housing and strengthen communities across the U.S. We advance housing policy at every level of government. We build and manage communities ourselves. Everything we do is informed by the residents we serve.

Together with our partners, we focus on the greatest need — the massive shortage of affordable rental homes — to achieve three goals:

• Increase the supply of affordable homes
• Advance racial equity after decades of systematic racism in housing
• Support residents and strengthen communities to be resilient to the unpredictable, and make upward mobility possible

Since 1982, we have invested $92.0 billion and created 1.1 million homes across all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. We do all this to make home and community places of pride, power, and belonging.

National Housing Innovation Grant Competition

Home is foundational. It’s where we plant roots, raise and care for our families, and build community bonds. Yet in every corner of the country, millions of people of all ages and backgrounds need a home they can afford.

Wells Fargo is meeting this moment with a powerful grant opportunity. Together with Enterprise, Wells Fargo has launched the third iteration of the Housing Affordability Breakthrough Challenge. The 2026 cycle of the housing innovation competition will identify and propel proven, ready-to-scale solutions that transform current practices and increase housing choice and access.

Eligible applicants will compete for five individual grants of $2 million to advance their innovation and drive meaningful, systems-level change in the housing and adjacent industries. Winners will gain access to mentorship and coaching from industry leaders and experts and join a powerful network of Breakthrough Challenge innovators.

Focus Areas

This third cycle of the Housing Affordability Breakthrough Challenge aims to meet the nation’s affordable housing challenges across all types of communities: Native, rural, suburban, tribal, and urban.

Proposals must encompass one or more of three focus areas:

• Design and Construction
• Finance
• Service Delivery and Programs

Applicants will be asked to show how their proof of concept or pilot program has achieved clear outcomes and success, and provide a clear pathway to expanding the innovation’s reach and impact

Round 1: Criteria and Scoring

Your innovation must meet the criteria below to advance to the official scoring stage.

Type of Community

Innovations can serve all types of communities:

• Rural
• Urban
• Suburban
• Tribal

Location

Priority scoring will be given to applications from entities that are based in – or whose innovations are designed for – one or more of 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, Washington D.C.

Affordability

Innovations must serve residents at these income levels:

• Rental: 80% AMI or below
• Homeownership: 120% AMI or below
• Workforce housing: 120% AMI or below

The Community Development Block Grant Program for Indian Tribes and Alaska Native Villages aims to foster the development of viable communities by providing funding for housing, living environments, and economic opportunities, primarily benefiting low- and moderate-income individuals. The program is competitive, offering both single-purpose and imminent threat grants to address urgent public health and safety issues, ensuring that tribes can improve their community welfare effectively.

AARP Foundation

AARP Foundation strengthens financial resilience for and with older adults by empowering individuals and improving systems.

AARP empowers people to choose how they live as they age. There are 125 million Americans who are 50 or older, and people want their money, health and happiness to last as long as they do. We are a wise friend and fierce defender, focusing on the priorities of older Americans.

Purpose Prize® from AARP

Honoring extraordinary people 50-plus who put their purpose into action.

Purpose is a powerful force for good. The Purpose Prize from AARP honors extraordinary older Americans who put their purpose into action to support AARP’s mission of empowering people to choose how they live as they age. Winners receive $75,000 and a year of organizational support from AARP to grow the impact of their nonprofits. Examples of organizational support include data and evaluation, governance and succession planning, fundraising strategy, and prospectus development.

Nonprofit organizations working on hunger, housing, or financial education in Iowa can apply for annual support to strengthen local services and long-term stability. Grants from RRCU Gives Foundation help expand affordable housing efforts, reduce food insecurity, and improve financial literacy for communities in need. Applications open in June, with awards in August.

Nonprofits and public housing entities serving residents of HUD-assisted housing in Iowa can seek funding for emergency-related service coordination and limited direct services through the ROSS Rapid Response Program. Administered by US HUD: Office of Public and Indian Housing, these cost-reimbursable grants provide US $112,500 - US $250,000 to address urgent social, economic, or health needs in affordable housing communities.

Iowa nonprofits and public agencies supporting senior services, affordable housing, homelessness reduction, and related community needs can access funding through Volunteer Mississippi’s AmeriCorps Seniors RSVP Opportunity. Grants up to US $75,000 support volunteer-driven programs that engage adults 55+ to assist older adults and caregivers, build strong families, support behavioral health, and help address housing instability.

Nonprofit community development organizations in Iowa working on affordable housing, small business, or workforce development can apply to host a graduate-level NCRC fellow to advance a defined project. Host partners must be NCRC members with in-person office capacity and can gain skilled support on equitable housing and related community development initiatives.

Graduate students in urban planning, policy, public administration, economics, or related fields can apply for the NCRC Fellowship for Equitable Development, which provides a US $20,000 stipend for community development projects. Iowa nonprofits working on equitable and affordable housing, small business, or workforce development may host fellows if located near an anticipated host site.

Iowa local governments, public housing agencies, and partners focused on equitable, affordable housing can access funding through US HUD to implement comprehensive neighborhood revitalization plans. These Choice Neighborhoods Implementation Grants, up to US $75,000,000, support redeveloping distressed HUD-assisted housing, improving surrounding neighborhoods, and providing services that enhance residents’ economic mobility and quality of life.