10 Sep Is multifamily design the key to solving the affordable housing crisis in California?
California faces a homelessness crisis the likes of which we’ve never seen before and one of the biggest reasons why we’re having this problem is due to the lack of affordable housing in our state.
The affordable housing problem isn’t going to go away anytime soon because as long as California is not building enough rental housing supply, and there’s a huge demand for rental properties, this problem is only going to persist.
Could multifamily design be the solution to the lack of affordable housing in California? In this article, we will answer this question and offer insight into what could come next for California’s rental market.
Multifamily Density Is The Answer
Thanks to statistics from Eye on Housing, we know that the average age of housing stock in California is 51-60 years. This means that most multifamily housing stock available in California today was designed and built at a time in our state’s history when fewer people were living in apartments, condos, and townhomes.
Back in the mid-20th century, most people lived in multifamily properties for a few years until they ultimately married and decided to invest in homes.
In 2021, as times have changed, we’re seeing more people live in multifamily properties longer than ever before, especially since most multifamily properties are closer to city centers, and this makes it possible for people to shorten their commutes.
California’s legislature has been working hard on proposing changes to zoning laws in our state. If approved by the Governor, we could see changes in multifamily design in the coming years in the form of bigger multifamily properties being built on lots that were previously designed for smaller buildings.
We could also see more duplexes built in suburban areas as zoning in California, Homeowners would also be allowed to subdivide their properties and create up to 4 rental units on a single lot.
Multifamily Design Needs To Be Done Better
Across California, especially in Los Angeles, multifamily properties have become an iconic symbol of California since the 1970s but with a greater need for affordable housing in California, multifamily design must be done better.
Besides building larger multifamily properties, and rezoning suburban areas to allow duplex and triplex properties, we also need to see more mixed-use multifamily properties statewide.
Mixed-use properties will provide cities like Los Angeles with additional housing stock, while also creating more commercial space for businesses to have a community footprint, rather than allowing big brand stores like Walmart to continue to dominate.
Contact MW Real Estate Group
At MW Real Estate Group, we specialize in managing multifamily properties in the Los Angeles area.
To learn more about the property management services that we can offer you, contact us today by calling (213) 927-2117 or click here to connect with us online.