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Calabasas Housing Needs. Karen Warner, AICP Calabasas Housing Affordability Workshop October 1, 2005. Major Housing Crisis in Southern California. Over 220,000 new housing units needed annually to keep pace with population growth

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calabasas housing needs

Calabasas Housing Needs

Karen Warner, AICP

Calabasas Housing Affordability Workshop

October 1, 2005

major housing crisis in southern california
Major Housing Crisis in Southern California
  • Over 220,000 new housing units needed annually to keep pace with population growth
  • Nearly half of all renters pay over 30% of their income on rent
  • Only 14% of LA County households can afford median priced home
who in calabasas needs affordable housing
Who in Calabasas Needs Affordable Housing?
  • People who work in Calabasas and cannot afford to live here
    • Teachers, nurses, police officers, retail workers, childcare providers
  • Special needs households
    • Senior citizens, disabled persons, single-parent households
  • Children of long-time Calabasas residents
rental affordability gap analysis
Rental Affordability Gap Analysis

Salary of Entry-Level LVUSD Teacher $38,000

Affordable Housing Cost Ratio x 30%

Max Monthly Affordable Housing Cost $950

Current Calabasas Rents (1bdrm) $1,300

Utility Allowance + $75

Actual Monthly Housing Cost $1,375

Affordable Housing Cost - $950

RENTER AFFORDABILITY GAP $425/month

homeownership affordability gap analysis
Homeownership Affordability Gap Analysis

Salary of L.A. Co. Firefighter $52,596

(midpoint of range, 56 hrs/week)

Max Affordable Purchase Price $185,000

Median Price of Condo in Calabasas $525,000

OWNER AFFORDABILITY GAP $340,000

homeownership out of reach for most working professionals
Homeownership Out of Reach for Most Working Professionals
  • Median price of condo has risen to $525,000,

Single-family home has risen to $1.5 million

  • An income of $130,000 is needed to purchase the median priced condo, and $390,000 is needed to purchase median priced home in Calabasas
affordable housing needs of calabasas workforce
Affordable Housing Needs of Calabasas Workforce
  • City’s 9,600+ employment base includes numerous lower paying jobs, especially retail and service sectors
    • 1998 Study estimates 40% of recent Calabasas workforce earn low & moderate incomes
  • Large segment of workforce can not afford to rent or purchase a home in Calabasas
    • 1998 Study estimates over half of recent workers commute over 30 miles daily
characteristics of calabasas senior population
Characteristics of Calabasas Senior Population
  • Growing segment of population
    • 9% > 65 years of age
    • 10% between 55-64 years of age
  • 1/3 of senior households > 75 years of age
  • 29% of senior households live alone
  • ¼ of seniors have some type of disability
do calabasas seniors need affordable housing
Do Calabasas Seniors Need Affordable Housing?
  • Approximately ¼ of seniors earn lower incomes (<$40,000)
  • Nearly half of Calabasas Village Mobile Estates occupied by seniors
  • 10% of residents in City’s two apartment complexes are seniors
  • 42 lower income seniors currently receive assistance through City’s Rental Assistance Program
calabasas housing obligations state housing element requirement
Calabasas Housing Obligations -State Housing Element Requirement
  • One of 7 State-mandated General Plan elements
  • Major components include:

- Housing needs assessment

- Evaluation of constraints

- Evaluation of potential residential sites

- 5 year program strategy to address needs

  • Sets forth City’s regional housing needs (RHNA)
  • Required to undergo State HCD review
  • City working towards implementing program for development of senior and workforce housing
calabasas housing obligations affordable housing trust fund
Calabasas Housing Obligations -Affordable Housing Trust Fund
  • Developer fees collected to address affordable housing needs generated by new development
  • City’s primary funding source to support production of affordable and mixed income housing
  • Allocation of Trust Fund resources critical to addressing regional housing needs (RHNA) and maintaining Housing Element compliance
why is affordable housing important in our community
Why is Affordable Housing Important In Our Community?
  • Strengthens the sense of community when people who work here also live here
  • Allows for multiple

generations of families to

remain in their

community

why is affordable housing important in our community14
Why is Affordable Housing Important in Our Community?
  • Improves quality of life – less commuting, improved air quality
  • Enhances City’s

ability to attract

major employers

and jobs

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