We desperately need to have a residential rental cap enforced immediately. There is no reason why a person making minimum wage should not be able to afford a studio.
In Redwood City, Ca A studio is averaging $1600. To afford a studio and be at 31% of income for housing, a person would need make $4800/mo or $27/per hr.
As for a one bedroom, 2 people making minimum wage should be able to afford this and that would be if it was $1200/month but we average $2200 currently. That would require a person to make $38/hour or 2 people to make $20/ hour etc...
Our rentals are all approx. $1000 over what is realistic and something needs to be done, not raise minimum wage, but put limits on rental income
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