Up to 25,000 SF residents pay more than half of their income in rent
From today’s Examiner, “Roughly 25,000 low-income households in San Francisco pay more than half of their income in rent, potentially putting them at risk of becoming homeless, a city official said Thursday.”
“Matt Franklin of the Mayor’s Office of Housing gave a presentation to the Planning Commission on housing trends and affordable housing programs, which several commissioners had requested as they consider multiple pieces of proposed legislation that could have far-reaching implications for the housing market.”
“Franklin said The City’s 24,000 affordable, or non-market-rate, housing units are mostly rental apartments targeted to the working poor, and half are for families. But despite progress, Franklin said, there’s much more to do.”
“Franklin said his office’s priorities are housing for the homeless, rental apartments for the working poor and homeownership opportunities. A small percentage of affordable housing — only 7 percent — is for homeowners, though some has been created in Mission Bay and the Western Addition, he said.”
“Several commissioners asked Franklin for guidance on upcoming issues. For example, the commission is grappling with proposed legislation that would require developers to include more affordable housing in their projects and make that housing available to residents with lower incomes.”
“Franklin said after the meeting that an important component is zoning for higher densities where appropriate. He said density helps nonprofit and for-profit developers produce more units, which drives down price”
