I've been leading the charge to bring more affordable housing to the great 13th District but the need for affordable housing is city-wide.
I am really excited about this news -- which you may have seen me tweet about earlier today.
My council colleague Felipe Fuentes and I introduced a motion that will start the process to establish an affordable housing policy for the City.
I'm excited about starting on the long path toward more affordable housing that will meet the needs of our homeless brothers and sisters, veterans, working professionals, and seniors. These groups have been priced out of the market over the past few decades.
The process will bring together stakeholder groups -- homeless advocates, business leaders, neighborhood leaders, the real estate industry, and city departments. These groups will propose the best ideas for crafting a new policy in our city.
The motion we introduced today will first be heard in the Housing Committee on its path to becoming a standard of practice that will provide badly needed housing and help make Los Angeles a more environmentally sustainable, world-class city.
Take a look at some of these housing statistics:
-The median price of a new apartment in Los Angeles in January 2013 was $1,770 which requires an annual income of $70,800 to be affordable.
-The federal government says that paying more than 30% of one’s income represents a cost burden leaving insufficient income for other basic needs.
-The city’s median rent increased 31% from 2000 to 2010 compared to an increase in incomes of just 1.2%.
-In 2011, 62% of renters were considered cost burdened.
-In 2000, 49% of renters were considered cost burdened.
-LA estimated median household income in 2011: $46,148 (it was $36,687 in 2000), in Los Angeles: $46,148, and in California: $57,287.
Just in case you want to read the motion, I've included a link here.