Come to Santa Barbara and you may wonder why there is a need for affordable housing. It's no secret that there is great wealth in Santa Barbara, but poverty does exist and many families live and try to make ends meet on an income that does not match with the housing or rental market prices in our community.
According
to the 2010 Census:
- 42% of the population of Santa Barbara earns less than $50,000 per year;
- Nearly half the population (45.9%) rents rather than owns their homes;
- and of that group, half (49.5%) pay more than 35% of their monthly income on rent.
Furthermore, according to an article in today's Santa Barbara News-Press ("Home sales picking up in South County", March 25, 2012) the median home sale price from Jan-Feb 2012 was $761,000 for the region from Goleta to Carpinteria. Excluding the two most expensive neighborhoods in town (Hope Ranch and Montecito), the median price was $665,000. This amount prices out 42% of the population that does not earn the wages needed to afford such a home.
Housing
is defined by the federal government as affordable when the cost does not
exceed 30% of a household’s annual income. Families who pay more than this are
considered “cost burdened” and often have difficulty paying for other
necessities such as food, clothing, and transportation.
The high cost of
housing in Santa Barbara means that hundreds of low-income families are forced
to live in overcrowded apartments or converted garages, many of which do not
meet minimum health and safety standards. This is why Habitat for Humanity of Southern Santa Barbara County exists in this community. We partner with qualified low-income families and empower them to become
homeowners through interest-free loans and a no-profit mortgage. This
provides families a hand up, not a hand out.
