This California town is the most expensive rental market for the third consecutive course

Renting in Santa Kruz, California, now requires suppressing more than $ 168,000 revenue to rent two-bedroom rooms-a number, which for the third consecutive year it is the most affordable nation market.

Based on the National Low Income Coordinated 2025 According to a report on the Santa Cruz area on the central coast of about 75 miles south of San Francisco, the hourly wage required for a modest two -bedroom room, rose from $ 63.33 to 2023. Up to $ 81.21.

This increased almost 30% from 2023, when they were first placed at the top of the list.

This means that the tenant now has to earn $ 168,920 a year to afford a modest two -bedroom rooms in the Fair Market Rent, a report. This would be a maximum of $ 4,223 a month for less than 30% of their total income. In California, where the minimum wage is $ 16.50, it is equivalent to 4.9 full -time work.

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The report states that a typical tenant is not close. The average tenant in Santa Kruz County earns $ 22.13 per hour. It will take about 3.7 business days at this speed to afford the apartment.

“This is no.” This is the time of all hands and after the deck all participants. “

According to the Out Out Off report, the California state dominates the affordability ratings. The golden state is home to eight of the ten most expensive subway zones, including San Jose, San Francisco, Salin and Santa Barbar. The average average salary of a two -bedroom apartment is almost $ 50 per hour, which is the largest of any US state.

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In the current minimum wage, a full -time California employee will need to place 120 hours a week to afford a medium two -bedroom apartment. According to the report, “nowhere in the US-John state, in the metropolitan area or in the county-in-count-off, to keep a full-time minimum wage worker for a modest two-bedroom rental home.”

The report includes a major and continuous shortage of supply, considering the national $ 7.1 million. The difference in the affordable rental home is particularly low in income for Eli’s households.

Critics say the California housing market is also hindered by overlapping regulators.

“CEQA[California Environmental Quality Act] And restricting zoning rules are the main participants in California housing, ”said Dr. Wayne Winegarden, Senior Co -Collaborator at the Pacific Research Institute.

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Mike Lelieur, chairman of the Santa Cruz County Republican Party, said Fox Business said the affordability crisis is a direct result of progressive politics decades.

“The Local Planning Department has made it so extremely expensive that it is simply not profitable unless you are supported by a large company creator,” Lelieur said. “Then you add reviews of CEQA, Coast Commission, endless permits and Greenbelt restrictions. This is a bureaucratic blockade by design. “

He also criticized the University of California, Santa Cruz, for increasing her student population faster than creating a home. “UCSC continues to expand, but they are not installing dormitories fast enough.

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“This is a housing crisis caused by politics,” Lelieur said. “And unless we change the course, it will only get worse.”

Santa Cruz Beach Boardwalk and Santa Kruz County Business Council did not immediately respond to Fox Business request.

The full report can be found https://nlihc.org/oor

Original source of article: This California town is the most expensive rental market for the third consecutive course