In order to meet the long-ago forecast of increased demand for housing in the city and around the Bay Area, San Francisco was given a goal of building a minimum of 31,193 housing units between 2007 and 2014, its Regional Housing Needs Allocation (RHNA). And while developers delivered over 108 percent of the city’s target for Market Rate units, the City’s production of affordable housing missed by a mile.
A total of 13,391 units of housing deemed affordable to households with incomes above 120 percent of the area median were built in San Francisco from 2007 through the end of 2014. And while that’s 108.7 percent of the of the city’s target (12,315), the market rate component represented less than half of the City’s overall Housing Needs Allocation.
The majority of the identified need and goal for the City was to build housing which would be affordable to those with household incomes up to 120 percent of the area median, the projected need for which was at least 18,878 affordable units to be built in San Francisco over the past eight years.
With fourth quarter numbers now final, a total of 7,064 units of housing deemed affordable to households earning up to 120 percent of the area median were built in San Francisco from 2007 to 2014, that’s 37 percent of the city’s target.
The largest gap in San Francisco’s housing production was for households earning between 80 and 120 percent of the area median income. The City only produced 19 percent (1,283 units) of its 2007-2014 allocation for those with Moderate Incomes. The current Area Median Income (AMI) for an individual is $71,350 and $81,500 for a household of two.
San Francisco’s Housing Needs Allocation for 2015 through 2022 totals a minimum of 28,869 units of housing, including 12,536 market rate units (96 percent of which has already been entitled for development) and 16,333 units of affordable housing.