Although California lawmakers in 2017 passed several bills to ease housing construction across the state, affordable rental units remain out of reach for many low-income residents. In a new report by the California Housing Partnership, about two-thirds of the more than two million very low-income renters in the state spend more than half their income on rent.
The U.S. Department of Housing & Urban Development is encouraging developers to build affordable housing in the 8,700 federally designated Opportunity Zones.
Although most renters in California can’t afford to be homeowners, recent research illustrates that these renters could, in fact, buy a home if they had better financial knowledge. According to a study by the California Association of Realtors (C.A.R.), “A lack of financial literacy is one of the biggest barriers preventing renters from becoming homeowners.”
More and more farmworkers have arrived in California’s coastal areas in the last year but find too few houses for themselves and their families.
After a contentious battle over the 2019 budget, federal lawmakers agreed to increase funding for tenant-based rental assistance, including Section 8 rental vouchers.