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[15]: 1 [16] In 2023, housing affordability in California reached a 16-year low, with only about 16% of homebuyers able to purchase a median-priced single-family home, as per data from the California Association of Realtors. In San Mateo and Santa Clara counties, buyers would require a minimum income of $504,400 and $451,200, respectively, to ...
This year’s budget includes a record $17 billion for housing and homelessness programs, including $1.75 billion in federal COVID-19 relief funds to finance proposed low-income developments that ...
Section 8 (housing) Section 8 of the Housing Act of 1937 (42 U.S.C. § 1437f), commonly known as Section 8, provides rental housing assistance to low-income households in the United States by paying private landlords on behalf of these tenants. Approximately 68% of this assistance benefits seniors, children, and individuals with disabilities. [1]
With the growth of Silicon Valley, the City of San Jose has been tasked by the California Department of Housing and Urban Development to build 23,775 units of low-income housing by 2031. Of those 23,775 units, 15,088 will be designated for extremely low-income and very low-income households.
California Senate Bill 35 (2017) An act to amend Sections 65400 and 65582.1 of, and to add and repeal Section 65913.4 of, the Government Code, relating to housing. California Senate Bill 35 (SB 35) is a statute streamlining housing construction in California counties and cities that fail to build enough housing to meet state mandated housing ...
The federal government, through its Low-Income Housing Tax Credit program (which in 2012 paid for construction of 90% of all subsidized rental housing in the US), spends $6 billion per year to finance 50,000 low-income rental units annually, with median costs per unit for new construction (2011–2015) ranging from $126,000 in Texas to $326,000 ...
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