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Housing Crisis in Bay Area
Did you know that since 1977, the median home price in the bay area has increased about 200%? In Santa Clara County about 38,000 new jobs were recently created; in that same time, only about 4,000 new housing units became available. More than 60% of employees in the Bay Area live outside the Bay Area like: Tracy, Stockton, Modesto, Antioch, Pittsburgh and so on because they can not afford the high priced housing in the Bay Area.
What is affordable housing? To the federal government, housing is considered affordable if it cost no more than 30% of the monthly house income for rent and utilities. For example, if your household income is somewhere about $60,000 dollars a year then you should pay no more than $1,500 dollars a month for your rent and utilities put together. Another way to look at it is if you are in a sales job making only $12....
Did you know that since 1977, the median home price in the bay area has increased about 200%? In Santa Clara County about 38,000 new jobs were recently created; in that same time, only about 4,000 new housing units became available. More than 60% of employees in the Bay Area live outside the Bay Area like: Tracy, Stockton, Modesto, Antioch, Pittsburgh and so on because they can not afford the high priced housing in the Bay Area.
What is affordable housing? To the federal government, housing is considered affordable if it cost no more than 30% of the monthly house income for rent and utilities. For example, if your household income is somewhere about $60,000 dollars a year then you should pay no more than $1,500 dollars a month for your rent and utilities put together. Another way to look at it is if you are in a sales job making only $12....
Posted by: Alyscia Yellowman
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