FOR IMMEDIATE RELEASE

SAN JOSE, Calif. – May 10, 2022 – SV@Home today announced that the California Housing Partnership’s 2022 Affordable Housing Needs Report shows increases in the cost of living continue to push housing affordability out of reach for many low-income families in Santa Clara County.

Key Findings for Santa Clara County:

• Renters in Santa Clara County need to earn $54.77 per hour – 3.2 times the City of Mountain View minimum wage – to afford the average monthly asking rent of $2,848;
• Asking rents in Santa Clara County increased by 6.3% between Q4 2020 and Q4 2021;
• With the addition of state affordable housing funds and new project Homekey funding for homeless response, the affordable housing resources in Santa Clara County increased in 2021.

“We know the need is tremendous – too few homes people can afford, too many of us paying way more than we can afford for rent,” said Regina Williams, Executive Director of SV@Home. “We also see our collective commitment paying off. We are creating more permanent affordable homes, and we know there are more on the way.”

###

Bay Area news release here

CHPC statewide housing needs report

Santa Clara County summary report here

Supporting Resources: Bay Area news release; California Housing Partnership Corp. Statewide 2022 Housing Needs Report; Santa Clara County needs summary

Media Contacts:

Santa Clara County: Thomas Murphy, thomas@siliconvalleyathome.org, (408-905-6315)

State and Regional: Christina Gotuaco, cgotuaco@chpc.net (415-433-6804 x313)

About SV@Home

SV@Home is the voice for affordable housing in Silicon Valley. A membership organization, SV@Home, advocates for policies, programs, land use, and funding that lead to an increased supply of affordable housing. Additionally, SV@Home educates elected officials and the community about the need for housing and the link between housing and other quality of life outcomes, including education, health, transportation, and the environment. To learn more, visit www.siliconvalleyathome.org

The California Housing Partnership creates and preserves affordable and sustainable homes for Californians with low incomes by providing expert financial and policy solutions to nonprofit and public partners. Since 1988, the Partnership’s on-the-ground technical assistance, applied research, and legislative leadership has leveraged $30 billion in private and public financing to preserve and create more than 85,000 affordable homes. In addition, the Partnership provides statewide publications and data tools for housing research and outcomes tracking. | chpc.net