With the Shortage of Housing and High Rent Prices, Granny Flats are on the Rise
One fact is indisputable: Housing is in short supply — and it’s expensive.
A report released earlier this year from the California Department of Housing and Community Development stated that an average of 80,000 new homes have been built in Calfornia each year over the past decade. The problem? We need 180,000 a year to keep pace with the state’s ever-growing population.
With not enough homes for sale, and exploding prices, many Californians are paying extremly high rent costs. In much of Orange County, the average rent is over $2,000 a month.
The Housing and Community Development report further notes that most California renters — more than 3 million households — pay more than 30 percent of their income toward rent. And nearly one-third — more than 1.5 million households — pay more than half of their income toward rent!
As a result, many people are turning to granny flats. By building these accessory dwelling units, homeowners can house family inexpensively, or collect rental income.
Browse through our site to learn how Granny Villas can build you a second home, right in your backyard.
To read more abotu the rise of granny flats, check out the Pasadena Star News.