HOUSING INITIATIVE: OVERVIEW



We believe that a robust quality of life is important for all of our residents. One important step to achieving our mission is ensuring the availability of safe and affordable housing.
 
In 2016, MBEP launched our housing initiative to support an increase in the supply of all housing in the Monterey Bay Region. Our initiative starts with a broad, regional coalition of individuals and organizations to advocate for the construction of all types of housing through our MBEP Action Center
 
To encourage development, we joined forces with Housing Trust Silicon Valley to create the Monterey Bay Housing Trust: a local housing trust fund that is providing a new loan pool to bring affordable housing projects to reality throughout the region. In just one year, we've surpassed our fundraising goal and raised $11.25M and have funded two loans.
 
And lastly we are showcasing regional innovation by providing inspiring examples of employer sponsored housing. You can learn more about each of our focus areas by clicking the links above.
 
 
Understanding Regional Housing Needs

In the Monterey Bay Region, AMBAG (Association of Monterey Bay Area Governments) provides a Regional Housing Needs Assessment (RHNA) to project the number of homes needed in our region during a specified time period. The 2014-2023 RHNA goals are listed below. 

RHNA Goals 2014-2023 (inclusive of all cities and unincorporated areas)
 
RHNA Goals 2014-2023
  Monterey County Santa Cruz County San Benito County Monterey Bay Region
Very Low Income 1,781 734 520 3,035
Low Income 1,160 480 315 1,955
Moderate Income 1,346 554 430 2,330
Above Moderate Income 3,099 1,276 929 5,304
Total 7,386 3,044 2,194 12,624

 
Income Limits for the Monterey Bay Region
 
 

2015 Income Limits - Monterey County
  % Median Income 1 Person Affordable Rent 2 person Affordable Rent 4 person Affordable Rent
Extremely Low Income 0-30% $15,250 $361 $17,400 $412 $24,250 $515
Very Low Income 31-50% $25,400 $601 $29,000 $687 $36,250 $859
Low Income 51-80% $40,600 $722 $46,400 $824 $58,000 $1,031
Median Income 100% $48,100 $1,203 $54,950 $1,374 $68,700 $1,718
Moderate Income 81-120% $57,700 $1,323 $65,950 $1,511 $82,450 $1,889
2015 Income Limits - Santa Cruz County
  % Median Income 1 Person Affordable Rent 2 person Affordable Rent 4 person Affordable Rent
Extremely Low Income 0-30% $21,200 $457 $24,200 $522 $30,250 $653
Very Low Income 31-50% $35,300 $761 $40,350 $870 $50,400 $1,088
Low Income 51-80% $56,500 $914 $64,550 $1,044 $80,650 $1,305
Median Income 100% $60,900 $1,523 $69,600 $1,740 $87,000 $2,175
Moderate Income 81-120% $73,100 $1,675 $83,500 $1,914 $104,400 $2,393
2015 Income Limits - San Benito County
  % Median Income 1 Person Affordable Rent 2 person Affordable Rent 4 person Affordable Rent
Extremely Low Income 0-30% $17,050 $426 $19,500 $487 $24,350 $608
Very Low Income 31-50% $28,400 $709 $32,450 $811 $40,550 $1,014
Low Income 51-80% $45,100 $851 $51,550 $974 $64,400 $1,217
Median Income 100% $56,750 $1,419 $64,900 $1,623 $81,100 $2,028
Moderate Income 81-120% $68,100 $1,561 $77,850 $1,785 $97,300 $2,230
Source: California Departmnet of Housing and Community Development, State Income Levels for 2015

Industry Wages and Affordable Rent
 
 
 
 
 

Source: State of California Employment Development Department - Quarterly Census of Employment and Wages (QCEW) Data

The standard definition of affordable housing is when housing expenses are no more than 30% of a family’s gross income. Ideally, each and every one of us are able to live in affordable housing. 
 
Another way the term affordable housing is used is to refer to income-restricted properties. In expensive regions like ours, rents are not affordable to the average working family and these types of properties are absolutely essential for a thriving economy. Projects are typically built and managed by nonprofit and for-profit developers with money from conventional loans, private investment, bonds and/or tax credits.  Many of these developments also have rental subsidies attached to them in order to make the units more affordable to the very low and extremely low income families.
 
Is Income-Restricted Affordable Housing The Same As Public Housing Or Government Subsidized Housing? No. Public housing refers to affordable apartments for low-income families, the elderly and persons with disabilities funded by the US Department of Housing and Urban Development (HUD) but owned and managed by local Housing Authorities. This type of affordable housing provides a limited number of rental apartments to households in the HUD program and money for this program is provided by the federal government.
 
What is Area Median Income (AMI). Median income is the amount that divides the income distribution into two equal groups:, half having income above that amount, and half having income below that amount. AMI is calculated each year by HUD as well as the California Department of Housing and Community Development for designated programs and is used to determine applicant eligibility (based on the level of household income) and to calculate rents for affordable housing programs. The graph above illustrates how AMI levels distinguish what is considered affordable and who qualifies for income-restricted, affordable rentals. 
 
 
The links below provide additional regional data from a variety of reliable sources. 

Geomapping Tool - An interactive map that provides a detailed visual look at our region on a variety of categories including the following housing related data: 

The following data is displayed visually by census blockgroups:
  • Renter-Occupied Housing % (2014)
  • Median Gross Rent ($) (2014)
  • Median Gross Rent percent of Household Income (%) (2014)
  • Home Value of Owner Occupied Housing Unit ($) (2014)

Economic Data Workbook - An excel downloadable workbook that has aggregated key economic indicators from publicly available sources:

We have various data provided by the census for the following topics (displayed by County):

  • Housing: Housing Occupancy, Housing units in Structure, Housing structure built year, Housing Tenure,  Housing Value, Mortgage Status, Monthly owner costs as percentage of household income, Gross Rent, Gross Rent as percentage of Household Income)
  • Housing Affordability: Housing Affordability Index, Median Price, Housing Needs Allocation

U.S. Census QuickFacts Table - An Interactive embedded table that provides statistics for cities, states and counties, including the following housing related data:

The following is provided by U.S. Census (by County):
  • Housing units, July 1, 2014, (V2014)
  • Housing units, April 1, 2010
  • Owner-occupied housing unit rate, 2010-2014
  • Median value of owner-occupied housing units, 2010-2014
  • Median selected monthly owner costs -with a mortgage, 2010-2014
  • Median selected monthly owner costs -without a mortgage, 2010-2014
  • Median gross rent, 2010-2014
  • Building permits, 2014

External Data Page - We also have several housing related documents from local regional resources.