Dr. Shawn Flanigan, San Diego State University, shares the next installment of our blog on the Access to Opportunity Project. San Diego is consistently ranked among the least affordable housing markets in the United States, topping that list in 2015! Coming in at number two on the list in 2016. Rather than looking exclusively at housing costs, assessments of housing affordability consider housing costs in relation to how many residents of a community could afford to purchase a home at the median price. In 2015, real estate industry research showed that less than half of households could qualify to buy a median priced home in 93.3 percent of San Diego zip codes. This was the highest ratio of any city in the study.
While rental housing is often associated with large, high-rise apartments, 54 percent of U.S. rentals are in small and medium multifamily housing (SMMF), properties with between two and 49 units. SMMF is a much more important source of homes than has generally been recognized, especially for low-income households, according to new research from Enterprise Community Partners Inc. (Enterprise) and the The USC Bedrosian Center on Governance, housed at the USC Price School of Public Policy.