How is California Meeting the

Housing Needs of Low-Income Renters?

The California Housing Partnership annually assesses the needs of California’s low-income renters for the purpose of informing state and local policies. Key findings from this year's report include:

*Renters need to earn 2.8 times the state minimum wage to afford average asking rent in California

*Although California has more than doubled production of new affordable homes in the past five years, the state is only funding 15% of what is needed to meet its goals.

*California spends more than twice as much supporting homeowners than renters and only 25% of renter resources are permanent

POLICY SOLUTIONS

To address the affordable housing needs of its low-income residents, the Governor and legislature should: 

• Develop an on-going revenue source to fund affordable housing production and preservation at the scale needed to meet state goals over 10 years. 

• Place a $10 billion affordable housing bond (AB 736 Wicks or SB 417 Cabaldon) on the 2026 ballot and actively support its passage. [SIGN ON TO SUPPORT]. 

• Maintain/expand the current 20% allocation of cap and trade auction revenues for the Affordable Housing and Sustainable Communities Program. 

• Expand and make permanent the enhanced state Low-Income Housing Tax Credits. 

• Make funding the Multifamily Housing Program part of the baseline state budget and increase the amount incrementally each year. 

• Reduce the cost of developing affordable homes by awarding all necessary state resources at one time using a single application. 

The California Housing Partnership creates and preserves affordable and sustainable homes for Californians with low incomes by providing expert financial and policy solutions to nonprofit and public partners. Since 1988, the Partnership's on-the-ground technical assistance, applied research, and legislative leadership has leveraged $37 billion in private and public financing to preserve and create more than 96,000 affordable homes. 

Visit us at www.chpc.net.

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