NewsNBC 7 San Diego — Local NewsJuly 1, 2026San Diego
San Diego Creates $8.5 Million Fund to Protect Affordable Housing
The San Diego City Council has approved an $8.5 million fund to be managed by the San Diego Housing Commission to preserve existing affordable housing units. The initiative aims to prevent current affordable properties from transitioning to market-rate housing, targeting units identified as vulnerable to losing their affordability status by 2040.
Read the full story at NBC 7 San Diego — Local NewsWhy It Matters
The city is allocating $8.5 million to preserve existing affordable housing units, which directly impacts the long-term rent stability for thousands of low-income individuals, families, and seniors.
Key Facts
- The San Diego City Council approved an $8.5 million Affordable Housing Preservation Fund.
- The San Diego Housing Commission is authorized to create and administer the fund.
- The fund aims to preserve 'naturally occurring affordable housing' and establish long-term affordability requirements.
- A 2020 study estimated 13,000 housing units in San Diego could lose affordability by 2040.
- Of the 13,000 units at risk, 4,200 are deed-restricted and 9,250 are naturally occurring affordable housing.
- The study projected that 35% of new housing production would only replace lost affordable units if no preservation intervention occurs.
- The U.S. Department of Housing and Urban Development defines affordable housing as costing no more than 30% of a household's pretax income, including utilities.
Who's Mentioned
other13,000“Estimated number of housing units at risk of losing affordability by 2040.”other9,250“Number of naturally occurring affordable housing units vulnerable to becoming ma”organizationSan Diego City Council“Approved the creation of the fund.”personSean Elo-Rivera“Councilman and vice chair of the Land Use and Housing Committee.”personKent Lee“Council President Pro Tem and chair of the Land Use and Housing Committee.”organizationSan Diego Housing Commission“Authorized to create and administer the fund.”personVivian Moreno“Councilwoman and member of the Land Use and Housing Committee.”organizationU.S. Department of Housing and Urban Development“Provided the definition for affordable housing.”