Report says $8.1B needed annually over next 12 years to solve homelessness in CA

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Photo credit: Corporation for Supportive Housing

STATEWIDE – Corporation for Supportive Housing’s report, released in December, found that $8.1 billion will be needed annually over the next 12 years to solve homelessness in California.  

According to the California Housing Needs Assessment, the state has the largest number of people experiencing homelessness  – 25 percent of all Americans who are homeless.

The report says that this is due to California lacking housing that is affordable for people with the lowest incomes. 

“When our communities‘ housing costs are too high, finding a place to live becomes impossible for people with extremely low wages or fixed or no incomes,” states the report. “Dramatic rent increases across California have resulted in rapid increases in homelessness, largely accounting for, for example, Sacramento’s 60 percent increase in homelessness over the last three years.”

The report notes that most households who need affordable housing will never become homeless, but all at true risk of homelessness need affordable housing to prevent episodes of homelessness.

Report says $8.1B needed annually over the next 12 years to solve homelessness in California
Photo credit: Corporation for Supportive Housing

State and federal governments are already projected to commit an average of $1.2 billion annually, reducing the $8.1 billion gap to $6.9 billion.

The plan outlines funding to go towards:

  • Building 112,527 affordable apartments at a total cost of $67.9 billion 
  • Subsidizing operations and rents for 225,053 apartments at a total cost of $22 billion 
  • Providing supportive housing services for 62,966 California residents with disabilities at a total cost of $5.9 billion
  • Providing interim interventions for 32,235 individuals and families at a total cost of $630.4 million

“Once California solves homelessness by 2035, total ongoing costs will decrease to $4.7 billion per year,” states the report.

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The report acknowledges that California has already invested record amounts of funding toward homelessness in recent years, however, has never developed a comprehensive plan.

“The California Homeless Housing Needs Assessment offers data needed and goals for investment that would allow California to solve homelessness over the next 12 years,” states the report.

Conrad N. Hilton Foundation funded the California Housing Needs Assessment. 

To view the full report visit https://calneeds.csh.org/wp-content/uploads/2022/12/CSH_Report_12.19-5.pdf

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