The "Build More Housing Near Transit Act of 2025" seeks to incentivize affordable housing development by amending federal capital investment grants for transit projects. It introduces the concept of "pro-housing policies," which are defined as State or local actions that remove regulatory barriers to housing construction or preservation, including affordable units. These policies include measures such as reducing or eliminating parking minimums, establishing by-right approval processes for multi-family housing, decreasing minimum lot sizes, or committing publicly-held land for affordable housing development. Under the bill, the Secretary of Transportation may increase a project's rating by one point if the applicant demonstrates these pro-housing policies within walking distance of transit facilities. The Secretary must consult with the Secretary of Housing and Urban Development to evaluate how effectively these policies will result in new and preserved housing units, including affordable housing, appropriate to expected demand. Additionally, the bill requires reporting on projects that receive such rating adjustments, detailing the pro-housing policies submitted and the expected housing outcomes.