Recent headlines read “ Nearly 5,000 Units of Housing on the Fast Track ,” “Public Gets First Glimpse into Massive Housing Project Planned for La Cumbre Plaza,” and “ How Santa Barbara City Hall Deep-Sixed Its 60-Foot Height Limit .” While these headlines may grab attention, they fail to reflect the important story — that of a housing crisis. Here we explain the seriousness of our housing shortage, how we got here and why infill housing is critical to the health of our community. We hope local media includes this critical story in its coverage of housing projects.
Why Housing Development Matters
South Coast housing is increasingly unaffordable. Median home prices (presently in excess of $2 million in the City of Santa Barbara) have more than doubled in nearly all jurisdictions since 2012, while vacancy rates have decreased 40 percent to 1.1 percent. These skyrocketing prices and lack of housing supply are shocking when compared to average median income — $107,300 for a family of four.