What is the scope of the current housing crisis?
A. The housing crisis in the Los Angeles metropolitan area is vast and multifaceted, with issues of crowding, quality, affordability, urban sprawl, traffic congestion, and safety all adding to the challenge of housing our population. Homeownership is out of reach for most Los Angeles residents: it takes an annual salary of $139,937 just to be able to afford a median priced home, while the average family income is only two-thirds that amount. And while ownership rates across the country are climbingnow at 66%only 39% of Angelinos own their own home. Renting is not much better. It takes roughly double the minimum wage to rent a one-bedroom apartment at Fair Market Rent (FMR) in L.A. County. To rent an FMR two-bedroom unit requires an annual salary of $44,960. And of the 10 U.S. large communities with the most crowded housing, all of the top seven are in Southern California, with Santa Ana topping the list.
