Published September 20, 2021
When the cost of living is too much
A new study from United Ways of California revealed that 3.5 million households in California can't afford basic needs.
To put it in more stark terms, that's 1 in 3 households.
Meanwhile, many Californians are still fleeing the state in droves for more affordable locales, yet the real estate market remains as hot as ever.
California's median home price soared above $800,000 earlier this year. (By comparison, Oakland's average hovers around $960,000.)
For the entire state of California, the living hourly wage for one adult with no kids is about $18.66—well above California's minimum wage. (Do you earn a living wage? MIT developed a calculator to help you figure it out.)
A step in the right direction?
Legislators recently took a huge step to address the state’s housing crisis, passing a bill that allows two-unit buildings to be built on lots previously zoned for single-family homes. It also allows homeowners to subdivide their properties to build up to four units on a single lot.
Of course, it's not just more housing, but more affordable housing California needs, along with a minimum living wage.
What are your thoughts on the cost of living in California?
