California Affordable Housing Needs Report 2023
California’s affordable housing needs, require a long-term, comprehensive, evidence-based set of policy solutions at scale, similar to those described in the Roadmap Home 2030. The Roadmap Home 2030 lays out a bold vision for solving California’s affordable housing and homelessness challenges over a 10-year period.
Key findings
- Median rent in California has increased 38% since 2000 while median renter household income has only increased by 7% (adjusted for inflation).
- Renters need to earn 2.9 times the state minimum wage to afford the average asking rent in California, which increased by 4%.
- 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.
- California spends twice as much supporting homeowners than renters and only 17% of renter resources are permanent compared to 97% of the support for homeowners.
- 79% of extremely low-income (ELI) renter households are paying more than half of their income on housing costs compared to 6% of moderate-income renter households.
- Black renter households are 41% more severely cost-burdened than white renter households.
Further reading: Fact sheet 9: What is affordable housing
[PDF] Community Reinvestment Act (CRA) Public File v.icbc.com
[PDF] Affordable Housing – American Bar Association americanbar
[PDF] Affordable Housing – American Bar Association americanbar