What is considered low income in Santa Monica?
What is considered low income in Santa Monica?
Santa Monica defines “low-income household” as one that makes less than 60 percent of AMI (not the 80 percent prescribed by the State); a “moderate-income household” is one making not more than 100 percent of AMI (not 120 percent).
How do you qualify for low-income housing in Santa Monica?
TO QUALIFY, HOUSEHOLD GROSS INCOME MUST BE WITHIN THE FOLLOWING RANGES BASED ON HOUSEHOLD SIZE:
- person household: $37,410 – $75,700;
- person household: $42,780 – $86,500;
- person household: $48,120 – $97,300;
- person household: $48,120 – $108,100;
- person household: $53,460 – $116,900.
How much do I need to make to live in Santa Monica?
Pacific Palisades rounded out the top 5 with rent of $5,275 – 356% of what the median income could afford….The Table Below Displays All Two-Bedroom Median Asking Rents.
| Neighborhood | Santa Monica |
|---|---|
| Two-bedroom Median Rent | $3,995.00 |
| Income Required | $159,800 |
| LA Median Household Income | $59,134 |
| Income-Rent Ratio | 270.23% |
How much do you have to make to qualify for low-income housing in California?
The minimum wage is $10.50. The Fair Market Rent for a one bedroom is $1,261, and for a two bedroom is $1,608. This means that affordable rent for someone working full-time on minimum wage in California is $546.
Is all of Santa Monica Rent Control?
All residential rental units (including apartment buildings, mobile homes, mobile home spaces, trailers, and trailer spaces) in the City of Santa Monica that were built before April 10, 1979 are covered by the rent ceiling protections of the Santa Monica Rent Control Law, unless they fall under one of the exemptions …
Does Santa Monica Community College have dorms?
Housing in the Santa Monica area Although SMC does not have a student dormitory, the IEC, on the 3rd Floor of SMC’s Student Services Building, is happy to assist you with the many housing options available in the area.
Is Santa Monica an expensive place to live?
metro area, which is ranked 12 out of 273 cities across the US in terms of cost of living. According to C2ER (the Council for Community and Economic Research), the cost of living in Santa Monica is estimated to be 146.6% of the national average making it one of the more expensive cities in the US.
Is Santa Monica cheaper than LA?
Which city is cheaper, Santa Monica or Los Angeles? The average daily cost (per person) in Los Angeles is $190, while the average daily cost in Santa Monica is $168.
What is moderate income in California?
Moderate income: 80% to 120% of AMI.
What is considered moderate income?
Moderate-income: Individual income that is at least 50 percent and less than 80 percent of the area median income, or a median family income that is at least 50 percent and less than 80 percent, in the case of a geography.