A decline in government spending, rising rents and falling incomes have created a shortage of nearly one million affordable homes in five Southern California counties, the nonprofit California Housing Partnership Corp. reported Monday, May 22.
The five-county area needs 949,016 more affordable rentals to meet the needs of families earning 50 percent or less of the median household income, the report said.
The report is the latest “housing needs” assessment by the California Housing Partnership, a state-sponsored agency created to preserve affordable housing and advise leaders on housing policies. The report includes policy recommendations, including support for proposed legislation designed to raise money low-income housing.
Earlier this month, the organization issued a similar report showing a shortage of more than 134,000 affordable homes in four counties surrounding San Francisco: Alameda, San Mateo, Contra Costa and Sonoma counties.
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