More than half of low-income Southern California tenants are paying more for rent than they can afford, the California Housing Partnership says.
Even after a near doubling of housing funds, Southern California is still nearly 1 million homes short for low-income residents, new housing data shows.for homebuilding and affordable housing preservation rose to $6 billion in the fiscal year ending last September, up from $3.2 billion the year before, according to California Housing Partnership, an affordable housing advocacy group.
The new housing needs reports show also that tenants need to earn two to three times the minimum wage to afford the average apartment rent.More than half of low-income renters in Southern California are paying more for housing than they can afford. And roughly half of the region’s “very low-income” residents are spending at least 50% of their monthly income on rent, leaving little cash available for other needs like food, utilities, medical care or transportation.
In 2021, a housing partnership study said the state could meet all its affordable housing needs by spending $18 billion a year for 10 years.
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