Sonoma County was recently named the country’s tenth-least affordable place to live by Forbes, and the latest wildfires in that area have made housing prospects for its working-class residents more dim.
Raissa de la Rosa, economic development manager for the City of Santa Rosa, told CityLab that before the wildfires ruined thousands of homes, Sonoma's housing inventory was down to only about 2 percent of available stock. Currently, median monthly rent in Sonoma County rose 35 percent to $3,224, due to new demand from displaced residents; the city of Santa Rosa has capped rent increases to combat price gouging.
A person earning an average wage in the county would have to spend about 82 percent of it to live in a median-priced house. To make ends meet, many low-income families share housing, with sometimes as many as 20 people to a home, Guzman said. The median monthly rent in September was $2,366 (according to Zillow) ...
Advertisement
Related Stories
Design
What Gen-Z Buyers Really Want in a Home
The fervor of planning for Millennials in the home building industry has now pivoted to Gen Z. So, what does this new generation want?
Building Materials
Lumber Leads Building Materials Prices Higher in March
Overall, the cost of building materials rose during March, with softwood lumber, gypsum products, and concrete all seeing price increases. Only steel mill materials saw price drops
Demographics
Post-Pandemic Trends: Working From Home
A greater share of workers are still working from home than before the pandemic and they're concentrated in the information, professional, and financial services sectors