What is this indicator?
This indicator measures existing affordable housing units affordable to extremely low-, very low-, low-, and moderate- income households as a percent of total housing.
The City defines extremely low-income households as those whose gross income does not exceed 30% of the area median income (“AMI”) for the Los Angeles-Long Beach Primary Metropolitan Statistical Area as published and periodically updated by the U.S. Department of Housing and Urban Development (“HUD”).
Very low-income households are defined as those whose gross earnings do not exceed 50% of the AMI. Low-income households are defined as having gross earnings that do not exceed 80% of the AMI. Moderate-income households are defined as having gross earnings that exceed 80 percent of the AMI but do not exceed the lesser of 120% of the AMI or twice the income limit for very low-income households.
LA County Median Household Income between 2000 to 2010 ranged from $51,300 to $64,800 annually. The Rent Control Board assesses how many rent controlled units are affordable at given income levels, assuming that 30% of gross annual income is applied to rent.
Proposition R was adopted by the voters of the City of Santa Monica on November 6, 1990, and was added as Section 630 to the City Charter.It was then implemented as the Affordable Housing Production Program (AHPP) under Section 9.64 of the Municipal Code. It consists of two requirements regarding affordable housing: First, it requires that 30% of all multifamily housing completed in each fiscal year be affordable to low-and moderate-income households; Second, Proposition R requires that at least one-half of the total affordable housing completed be affordable for low-income households.