Preserving affordable rental homes near transit is a critical strategy in addressing the affordable housing crisis in the Bay Area today. Recent analysis indicates a shortfall of 250,000 rental homes affordable to the Bay Area’s very low-income households (those earning less than 50% of the area median income). Loss of existing affordable rental homes will only exacerbate displacement pressures on low-income households living in increasingly desirable transit-accessible neighborhoods.
Affordable rental homes located near transit offer particular benefits to low-income households, including access to jobs, education, health services, and food, as well as reduced transportation costs. They also offer important greenhouse gas reduction benefits to the broader community. However, growing demand for housing near transit is creating a heightened risk of displacement in many transitrich neighborhoods, which, if unaddressed, risks driving out the very low-income households who would otherwise benefit most from improvements to these areas.