Affording a House in the Coachella Valley - Palm Springs News, Weather, Traffic, Breaking News

Affording a House in the Coachella Valley

Posted: Updated:
Coachella Valley Economic Partnership & Esri’s Business Analyst Coachella Valley Economic Partnership & Esri’s Business Analyst
Indio, CA -

It's no secret that it costs more to live in California, and a big factor in that is housing.

Local lawmakers are trying to find ways to fix that problem. 

Kay Wolff lives in La Quinta, and in the past 35 years has seen a gap in housing.

"A lot of farm workers, and people who work in hospitals and hospitals and restaurants need affordable housing, and there just isn't enough," said Wolff.

So that's why she came to the affordable housing hearing, along with leaders in real estate.

"We have a legacy of this issue in the Coachella Valley with farm worker housing problems of the past, inadequate housing at that level, the incredible wealth disparity that we've seen, our resort community," said Paul Herrera with California Desert Association of Realtors.

Assemblyman Eduardo Garcia says the earlier economic recession, changes in lending, and less programs to help are the ingredients for a statewide housing crisis.

"We have a lot of people who cannot afford to live where they work, and the idea of ownership seems to become a far-fetched dream," said Garcia.

Housing prices are rising across the valley.
Even affordable areas, are now less affordable.
It's suggested 30 percent of your income be spent on housing.

The middle point of household incomes in the Coachella Valley is nearly 50,000 dollars.

If you are bringing $50,000 and you apply that 30% affordability rule of your income, that would be $1,200 a month. 
The average home in Palm Desert is 360,000, the mortgage would be 1,700, and as you can see, those numbers don't add up.

"We need to build more, and we need to have working families live in the place that they make their living," said Herrera.

Real estate experts say more homes are being built in places like Indio and La Quinta, but say we need more of that.

Powered by Frankly