# Monterey County

### Summary

- **48.3%** share of renter households
- **39.8%** share of low-income households
- **53.9%** share of rent-burdened households

### Renter population data

#### Renters vs homeowners

| Type                 | Households | % share  |
|----------------------|------------|----------|
| Renter households     | 62,795     | 48.3%    |
| Homeowner households   | 67,182     | 51.7%    |
| Total households       | 129,977    | 100.0%   |

#### Low-income renter households

| Household Type                     | Households | % share  |
|------------------------------------|------------|----------|
| Extremely low-income (≤30% AMI)    | 6,891      | 11.0%    |
| Very low-income (31-50% AMI)       | 9,070      | 14.4%    |
| Low-income (51-80% AMI)            | 9,011      | 14.3%    |
| All low-income households (<80% AMI)| 24,972     | 39.8%    |

#### Rent-burdened households

| Burden Level                     | Households | % share  |
|-----------------------------------|------------|----------|
| Moderately rent-burdened          | 18,147     | 28.9%    |
| 30.0–34.9%                        | 6,548      | 10.4%    |
| 35.0–39.9%                        | 4,526      | 7.2%     |
| 40.0-49.9%                        | 7,073      | 11.3%    |
| Severely rent-burdened            | 15,706     | 25.0%    |
| ≥50.0%                            | 15,706     | 25.0%    |
| All rent-burdened households      | 33,853     | 53.9%    |

### Affordable housing shortage

#### Rent vs median household income

| Year | Median Household Income ($) | Median Rent ($) | Increase (%) |
|------|-----------------------------|------------------|--------------|
| 2010 | 43,988                      | 1,118            |              |
| 2021 | 61,155                      | 1,591            | 39.0%        |

#### Affordable housing stock

| Description                       | Units  |
|----------------------------------|--------|
| Supply (current stock)           | 759    |
| Demand (total units needed)      | 13,971 |
| Shortage                          | 13,624 |
| Total shortage                    | 13,624 |
| Supply/Demand ratio               | 5.4%   |

### HUD National Low Income Housing Tax Credit (LIHTC) Database

| Name                                   | Location      | Type                      | Year | Market Rate | Low-income | LIHTC Allocation |
|----------------------------------------|---------------|---------------------------|------|-------------|------------|------------------|
| HIGHBRIDGE OVERLOOK                    | 10452         | New construction          | 2014 | N/A         | 154        | $1,804,887      |
| IRVINGTON FAMILY APTS                  | 94538         | New construction          | 2007 | N/A         | 99         | $1,378,252      |
| HILLTOP VILLAGE                        | 32208         | New construction - Acquisition and Rehab | 2012 | N/A         | 200        | $504,385        |
| HUNTINGTON RESERVE                     | 32773         | N/A                       | 2006 | N/A         | 168        | $424,046        |
| HOLT + HAMILTON FAMILY APARTMENTS     | 91768         | New construction          | 2016 | N/A         | 61         | $1,557,010      |
| INTERVALE GARDENS LLC                 | 10459         | New construction          | 2008 | N/A         | 65         | $659,087        |
| HOMES OF RENAISSANCE PRESERVE II      | 33905         | New construction          | 2012 | N/A         | 88         | $1,510,000      |
| JEFFERSON BOULEVARD & FIFTH AVENUE APTS | 90018       | New construction          | 2013 | N/A         | 39         | $674,261        |
| IMPERIAL GARDENS FAMILY APTS          | 92243         | New construction          | 2009 | N/A         | 76         | $1,142,750      |
| HOLLY HEIGHTS I + II APARTMENTS       | 95490         | Acquisition and Rehab     | 2016 | N/A         | 41         | $435,816        |