1 day ago
Affordable #Housing ? Not in #LA !
Are you paying too much for rent? You're not alone. Experts say we have a crisis on our hands. The #California Housing Partnership Corporation reports there is a current shortage of nearly one million affordable homes in five Southern California Counties. It boils down to a growing population, lower government spending and new luxury apartments with high rents. One example is Echo Park. It used to have low rent apartments. Now, on average, a one bedroom apartment in this area can cost roughly $1995, a two bedroom goes up to $3025 a month. This means, lower income families are spending two thirds or more of their income on rent with very little money left over. Since 2000, rents have climbed 28% in Orange and San Bernardino Counties and 32% in LA and Riverside Counties. To make matters worse, incomes have dropped in our region between 3 and 9 percent.
How much do you pay in rent?
#AffordableHousing #Crisis #AffordableHousingCrisis #RentTooHigh #costofliving #foxla Via @ginasilvaworld