We see the effect of the high cost of housing and it’s why we advocate to build more affordable homes for ownership.
Our friends at California Housing Partnership recently released their “State Affordable Housing Needs” annual report. Here are some of the key findings:
- Black renter households are 41% more severely cost burdened than white renter households.
- Renters need to earn $45.98 per hour — 2.8 times the minimum wage — to be able to afford the average asking rent in San Diego County, which has increased by 5% and is currently $2,391/month.
- Although California has more than tripled production of new affordable homes in the past four years, the state is only funding 20% of what is needed to meet its goals.
The good news is that state and federal funding for housing production and preservation in San Diego increased by 66% compared to the prior year.
It’s important that we continue our advocacy at all levels of government to ensure that our elected leaders deliver policies that create increased access to affordable housing.
