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In the San Jose-Sunnyvale-Santa Clara metropolitan area, there are 30 available and affordable housing units for every 100 extremely low-income households below 30% of the area median income. There are 43 available and affordable units for every 100 low income households below 50% of the area median income. [4]
Santa Clara Winery Owner Fined $120,000 For Letting Employee Live on His Property . ... below-market-rate units in new housing projects—to more areas of the city.
Half of those units, or 1,201, will be designated as below-market rate housing for low and very low-income residents. [9] The project was approved on September 21, 2018 for streamlining under SB 35. In October 2018 the City Council approved, and residents then filed a referendum on, another Vallco project by the same developer—the 2018 Vallco ...
In San Mateo and Santa Clara counties, buyers would require a minimum income of $504,400 and $451,200, respectively, to purchase median-priced homes of $2.01 million and $1.8 million. [17] [18] The housing situation affects individuals differently, depending upon their circumstances.
(The Center Square) - California quietly doubled down on its termination of single family zoning, ending loopholes that allowed municipalities to block an earlier state law designed to let owners ...
Mortgage rates, while down from May’s six-month high, are still hovering near 7%, resulting in a typical homebuyer’s monthly payment just $50 below all-time highs at $2,785.
Requirements to developers to include below-market units in their projects can exacerbate these challenges, even while not meaningfully increasing the amount of affordable housing in a given community." Advocates of affordable housing felt stymied. Yet there were alternatives that avoided the exemption for new construction under Costa–Hawkins ...
It is another big milestone in the Bay Area housing market: The median price of a single-family home in Santa Clara County hit $2 million for the first time. So what is driving the surge? Realtors ...