California’s affordable housing crisis will only worsen if nothing more is done to protect the thousands of subsidized affordable rental homes at risk of market rate conversion. According to the Affordable Homes At Risk | 2024 Report released April 5 by the California Housing Partnership:
- 19,249 subsidized affordable rental homes have already been lost through conversion to market rate housing and 7,350 more homes are at risk of conversion to market rate as soon as this year.
- By 2033, more than 33,910 more affordable homes could lose their affordability. More than 40% of these apartments are home to seniors on fixed incomes and people with disabilities.
If nothing is done to preserve these at-risk affordable rental homes, thousands of low-income seniors, families, and individuals will be at risk of losing their homes. Research has shown that Black, Indigenous and people of color are most at risk.