San Diego County is Short More Than 134,500 Homes for Low-income Renters; Housing Advocates Call for City, Local, State Government Action

FOR IMMEDIATE RELEASE

May 9, 2024

Media Contact: Sandy Young, J. Walcher Communications

Annual Housing Needs Report Shows Growing Gap Between Housing Supply And Need for Low-Income Renters, People Experiencing Homelessness

San Diego County is Short More Than 134,500 Homes for Low-income Renters; Housing Advocates Call for City, Local, State Government Action

SAN DIEGO – The San Diego Housing Federation (SDHF) today released the annual San Diego County Housing Needs Report from the California Housing Partnership. During a press conference highlighting the report’s top findings, SDHF leaders – a coalition of regional affordable housing developers, nonprofit leaders, lenders and other housing advocates – spotlighted the growing, and continuing, need for investment in affordable housing for low-income renters.

“The need for affordable housing in San Diego is greater than ever,” said Stephen Russell, president and CEO of San Diego Housing Federation. “Today’s data shows that investment from all levels of government is helping, but now is not the time to back down. Unfortunately, our current City of San Diego budget has equity issues, with areas that need the most resources being cut. As the City and County rework and refine their budgets, they must prioritize funding for more affordable housing.”

The annual Housing Needs Report from the Partnership shows the severe shortage of affordable homes in San Diego. Some of the key findings:

San Diego County is more than 134,500 homes short for low-income renters.

· There has been a 13% decrease from the last year in state and federal funding for housing production and preservation.

· For people experiencing homelessness in San Diego, there are 800 fewer beds available than there were just a year ago. San Diego County is 9,226 beds short.

· Rents are stabilizing, a sign of the City’s pro-housing efforts at work. The average asking rent for a two-bedroom unit is now $2,479.

· However, wages have not kept up with increases in rent. On average, a single person needs to make $47.67 per hour to afford the average monthly rent, 2.8 times the minimum wage.

“The facts in this new San Diego County report underscore the need for state leaders to take immediate action to provide local governments with meaningful resources so that they can produce and preserve more affordable homes, which is the best solution to homelessness,” said California Housing Partnership CEO Matt Schwartz. “These actions include (1) preserving the $500 million in state housing credits in the fiscal year 2024-25 budget and (2) approving the new $10 billion housing bond (AB 1657) so it can appear on the November ballot for voters to consider.”

One key solution the group advocated for during today’s press conference is State Housing Bond AB 1657. SDHF and other advocates are calling on California state senators to pass this bill into law, in which bond funds would finance affordable rental housing and homeownership programs, including: the Multifamily Housing Program, the CalHome Program and the Joe Serna, Jr. Farmworker Housing Grant Program.

“Today’s report truly solidifies how important it is to ensure that all families have access to safe, affordable housing,” said California Housing Partnership Senior Research Manager and Report Author Danielle M. Mazzella.

Read the full report here: https://chpc.net/wp-content/uploads/2024/05/San-Diego_Housing_Report.pdf

San Diego Housing Federation
The San Diego Housing Federation is the region’s voice for affordable housing. The Federation is committed to increasing the supply of housing for San Diego’s most vulnerable families, seniors, veterans and those living with disabilities. For more information, visit housingsandiego.org.

California Housing Partnership (The Partnership)

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. In addition, the Partnership provides statewide publications and data tools for housing research and outcomes tracking. For more information, visit chpc.net.

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Click here to view the press release PDF.

View the Housing Needs Report here.