New Bay Area Data: Housing Costs Rise, Needs Grow, Funding Plummets
May 5, 2017 (San Francisco Bay Area, California) – Just as supporters and residents across the Bay kick off Affordable Housing Month to explore opportunities and solutions for our region’s housing challenges, new data demonstrates that housing costs have grown higher than ever, pushing more Bay Area families into poverty.
The California Housing Partnership published its annual Housing Needs Assessment data today for four Bay Area Counties, demonstrating a snapshot of the region’s current housing needs and challenges. The reports show that average rental prices are increasing at significantly faster rates than median wages and that the affordable housing shortfall has only grown. The counties have lost more than 65% of all state and federal funding for affordable housing since 2008 – and up to 87% in Sonoma County — without identifying new state revenue.
“Most of us already know family or friends impacted by the housing crisis. But the data show the problem is much wider and deeper, requiring a systematic response,” said Matt Schwartz, CEO and President of the California Housing Partnership. “Fortunately, there are important opportunities in front of us, if we have the will to seize them.”
In collaboration with the Non-Profit Housing Association of Northern California (NPH) and local advocacy organizations, the new reports also include policy recommendations to address the reports’ findings.
“Even after many of our Bay Area Counties took action this past November, it’s clear that we can’t go it alone. The state needs to do its fair share and step up for solutions,” said Amie Fishman, NPH Executive Director.
Specifically, the reports’ policy recommendations include California Senate Bill 2 (Atkins) and Assembly Bill 71 (Chiu), which would identify new, permanent funding sources for affordable housing.
“The data is clear: this crisis isn’t going away on its own,” said Assemblymember David Chiu (D-San Francisco.) “We need to take action this year – which is why I’m working with my colleagues in Sacramento to create ongoing funding for new affordable housing and bring Californians home.”
The Alameda County Report can be viewed at http://bit.ly/2p3thzn
The Contra Costa County Report can be viewed at http://bit.ly/2p3eUed
The San Mateo County Report can be viewed at http://bit.ly/2pMgG0w
The Sonoma County Report can be viewed at http://bit.ly/2pLZSa4
California Housing Partnership is California’s leading expert in Affordable Housing finance and policy. The State Legislature created the California Housing Partnership in 1988 to help preserve California’s existing supply of affordable homes and to provide leadership on affordable housing policy and resource issues. Since then, the California Housing Partnership has worked with fellow affordable housing creators and preservers statewide to ensure that low-income Californians have the opportunity to live in a home that fosters a healthy, productive life. In partnership with nonprofit and government housing agencies, the California Housing Partnership provides the expertise, technical assistance, and advocacy leadership necessary to create and preserve homes affordable to those with the fewest housing choices. For more information about California Housing Partnership and the data reports, visit www.chpc.net
The Non-Profit Housing Association of Northern California (NPH) is the Bay Area’s voice for affordable housing. NPH envisions a future where everyone has has an affordable and stable home. NPH represents more than 750 affordable housing developers, advocates, community leaders and businesses, working to secure resources, promote good policy, educate the public and support affordable homes as the foundation for thriving individuals, families and neighborhoods. For more information about NPH and Affordable Housing Weeks, visit www.nonprofithousing.org/AHW2017
Media Contacts
Matt Schwartz, MSchwartz@chpc.net (415-433-6804 x311) Alina Harway, alina@nonprofithousing.org (415-989-8160 x36)