DATE:
August 31, 2021
07
TO:
Board of Supervisors
SUBJECT
Title
TRANSFORMATIVE HOUSING SOLUTIONS THAT ADVANCE EQUITY, SUSTAINABILITY, AND AFFORDABILITY FOR ALL (DISTRICTS: ALL)
Body
OVERVIEW
The San Diego region faces a severe housing crisis. Housing prices have far outpaced inflation and wage growth over the past decades, driving rents and home prices out of reach for many residents, forcing households to make serious trade-offs to live in the region, and contributing to a historic homelessness surge.
For decades, the housing policy discourse has failed to adequately address the scale of our housing shortfall. We are currently missing approximately 88,400 units across the region - or roughly 7% of the regional housing stock - and the vast most of the missing homes are needed for lower-income and middle-income households. We refer to this missing subsect of the housing market as "equitable housing", which includes people with a diversity of housing needs: very low-income households making less than $50,000 per year, older adults living on fixed incomes, college students, single-parents, teachers, nurses, childcare workers, and middle-income families making up to 120% of area median income, or approximately $130,000 per year. We need more housing across the income spectrum and the need is by far the greatest for equitable housing.
What is "Equitable Housing"?
Category
AMI Tier
AMI Range
Household Income
Equitable Housing
Very Low-Income
<50% AMI
< $54,550
Low-Income
50-80% AMI
$54,551 - $87,300
Moderate-Income
80-120% AMI
$87,301 - $130,950
Market-rate housing
Above Moderate-Income
Over 120% AMI
$130,951 >
How Much Equitable Housing Do We Need?
Category
AMI Tier
AMI Range
Target Units
Permitted Units
Missing Units
%
Shortfall
Equitable Housing
Very Low-Income
<50% AMI
36,450
3,775
32,675
90%
Low-Income
50-80% AMI
27,700
5,126
22,574
81%
Moderate-Income
80-120% AMI
30,610
2,690
27,920
91%
Market Rate
Above Moderate-Income
>120%...
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