Residents of Palo Alto are scratching their heads. A new proposal may allow high earning families to now qualify for subsidized housing. This following a trend of California’s increasingly high cost of living.
High Earners To Qualify for Subsidized Housing
The city council has voted to study a housing proposal that would allow families making up to $250,000 per year to qualify for subsidized housing.
Some of the small two-bedroom, one-bath homes are worth between $1.5 and $2 million . As tear-downs. That’s just what the dirt is worth.
“Prices have just gone through the roof, making it unaffordable for middle-class people, your firefighters, your teachers, and, frankly, some of your doctors,” Palo Alto Vice Mayor Greg Scharff said.
Read more here.
This is why City Vs City cost of living calculator is so unique: It accounts for the home prices and rents at the ZIP Code-level so that comparisons are more accurate between two cities. Download it today to see how this works.