Addressing California’s Housing Crisis Through Municipal Finance Reform
Student Work
Abram Arredondo | Nicholas Green | Rasik Hussain | Mason Parker
November 2024
California has a historic shortage of affordable housing. Statewide median rents have increased by 35% since 2000 with median renter household income increasing only 6%. Meanwhile, the statewide median sales price of a single-family home was $827,940 in 2021. Nearly 80% of low-income renter households are severely cost burdened, meaning they spend more than half of their income on housing. Over 1 million affordable units were lost due to conversion, demolition, or abandonment between 1997 and 2007.
