Two recent reports show that low-income families struggle to pay the average rent charged in either county.
CENTRAL VALLEY – Rising rents in Fresno and Tulare counties may leave many local citizens struggling to find housing.
In May, the California Housing Partnership (CHP) released “Affordable Housing Reports” for Fresno and Tulare counties. Reports imply that low-income families in Fresno and Tulare counties are being pushed out of the rental market due to emerging rents and lack of housing.
According to the key findings segment of the reports, Fresno County renters will have to earn at least $25. 23 per hour, or 1. 6 times the state minimum wage, to pay the average consistent with the county’s monthly rent of $1,312. Renters in Tulare County have to earn at least $21. 33 consistent with the hour to pay the average consistent with month’s rent of $1,109.
More than 36,000 low-income renting families in Fresno County do not have access to affordable housing. People in very low-income families spend more than a portion of their income stream on housing. In contrast, low-income families spend 2% of their income stream on housing costs.
In Tulare County, more than 13,300 low-income renting families do not have affordable housing. More than 70% consistent with the percentage of families with an incredibly low source of income spend more than a portion of their source of income on housing, while modestly-source income families pay 1 according to the percentage of their source of income.
Since 2010, solicited hires (fees collected through landlords) in Fresno County have steadily increased. The average hire in 2010 is around $800. Requested hires increased by up to 5% between the fourth quarter of 2021 and the fourth quarter of 2022. The average hire in Tulare County was about $750. Unlike Fresno, Tulare experienced an average hiring reduction of up to 0. 1% between the fourth quarter of 2021 and the fourth quarter of 2022.
The COVID pandemic has played a major role in increasing hiring across the state. According to Zillow’s “observed hiring index,” between March 31, 2020, the start of the pandemic, and June 30, 2023, Fresno and Visalia saw their hiring rack up by nearly 40%. Rents in Merced have increased by more than 30%; in Modesto, construction increased by just under 30%.
According to the U. S. Census Bureau, 18. 7% of Fresno County citizens live in poverty; in Tulare County, 19. 4% live in poverty. By comparison, in San Francisco County, one of the wealthiest counties in the state, 11. 4 percent of its citizens live in poverty. From 2017 to 2021, the average consistent with the source of income per capita in San Francisco County $77,267. In Fresno County, the source of income consistent with the capita in 2021 $27,295; in Tulare, $23,706.
Zillow’s California rental marketplace says the average rent for all genuine rooms and real estate sites in the state is $2,913. Using a popular loan calculation, which warns that a user never spends more than one-third of their month-consistent revenue stream on rent, a user would have to earn $105,455 consistent with the year to pay $2,900 consistent with the month or $34,800 consistent with the year of hire.
Even though Governor Newsom made a $30 billion investment in housing-related programs, California simply doesn’t have enough affordable housing to keep up with demand. According to CHP, the state will have to build at least 120,000 affordable housing complexes each to supply housing. for low-income households.
In a May 19 news release, Newsom said $567 million will be available statewide to build affordable multifamily housing. With the $825 million announced through the governor’s office last February, the state plans to build 9,550 in 58 communities. According to California Housing and the Community Development website, 20 percent of the program’s $1. 5 billion budget will be allocated to projects in rural areas.
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