FOR IMMEDIATE RELEASE
New Housing Need Report for San Mateo County Highlights Housing Affordability Challenges for Low-Income Families: What Can Local Leaders Do to Help?
May 2022 (SAN MATEO COUNTY) – New reports released today by the California Housing Partnershipemphasizes our reality today – that increases in the cost of living continue to push housing affordability out of reach for many low-income families in San Mateo County.
- Renters in San Mateo County need to earn $59.71 per hour – 7 times the City of San Mateo minimum wage – to afford the average monthly asking rent of $3,105.
- Asking rents in San Mateo County increased by 3% between Q4 2020 and Q4 2021.
- Low-Income Housing Tax Credit production and preservation in San Mateo County decreased by 65% between 2020 and 2021.
- State and federal funding for housing production and preservation in San Mateo County is $222 million, an 8% decrease from the year prior.
- With the addition of Homekey, the interim and permanent housing supply available in San Mateo County in 2021 for persons experiencing homelessness was 1,280 beds.
“California’s Roadmap Home 2030 goals of housing the homeless, ending the crisis in affordability, protectingvulnerable renters from displacement, and closing racial equity gaps are attainable if state leaders embrace the proposal made by Assembly Housing Chair Buffy Wicks to set aside 5% of state general funds for this purpose. This is the kind of bold, long-term investment we need to scale our resources to the scope of these challenges,” says Matt Schwarz, president and CEO of the California Housing Partnership.
This data shows where we are today. But it doesn’t show where we have to be. To create strong, healthycommunities for anyone, we need strong, healthy communities for everyone. “We need local leaders to support the state and federal efforts, especially for extremely low-income homes. We need additional funding, great sites appropriately zoned, and policies to help keep families in their homes,” says Evelyn Stivers, Executive Director of Housing Leadership Council of San Mateo County.