Beneath the beauty of Santa Barbara lies a big downside. It has become completely unaffordable.
I’ve grown up in this town and have seen tremendous amounts of business close and apartments becoming vacant because rent has increased dramatically to levels that are no longer affordable. Santa Barbara is no longer the welcoming city to families, rather it has become the place people have to leave behind.
An affordability story in the Independent showed that in order to afford a one-bedroom apartment, you need to have an annual income of $115,000 dollars. Do we truly think $2,900 dollars is affordable for a one-bedroom apartment for families that don’t make anywhere near the annual income?