SACRAMENTO - (INT) - In the wake of the housing market crash and Great Recession, more Californians have chosen (or been forced) to rent rather than own.

The share of households renting grew from 42 percent in 2007 to 46 percent in 2013. But the supply of rental housing hasn’t kept up with demand.

California’s rental vacancy rate of 4 percent is at a 30-year low and is far below the national rate of 7 percent. The Center on Budget and Policy Priorities contends that the limited supply of rental housing is pushing prices up further, making housing even harder to afford for people lower on the income ladder.

A new report from the Center points out the lack of affordable housing in California is especially hard on low-income renters and shows how it is exacerbating poverty, overcrowding, and housing instability.

The CBPP’s underscores the importance of federal Housing Choice Vouchers in helping low-income households to afford rental housing and calls on Congress to restore a portion of the vouchers lost to federal cuts in recent years.

Story Date: October 18, 2015