Los Angeles and the Bay Area are leading California in the construction of affordable housing, according to a new analysis from RentCafe. The two regions ranked 7th and 8th nationwide, respectively, among the top 20 markets for new affordable apartment development. Seattle, New York City, and Austin took the top three spots.
Over the past five years, Los Angeles has added 9,406 affordable apartments. Affordable units make up 20.54% of all new apartment construction in the region, representing a 79.54% increase compared to the prior five-year period.
The Bay Area saw similarly strong growth, with 9,169 affordable apartments built over the same timeframe. Affordable housing accounts for 20.12% of new apartment construction in the region, reflecting a 75.99% increase over the past five years.
Nationwide, affordable housing development is trending upward. Since 2020, affordable units have comprised 12.6% of all newly built apartment housing. RentCafe reports that affordable housing construction has increased by 73% over the past five years compared with the 2015–2019 period.
Read the RentCafe report here.