Needs
There is significant uncertainty in the housing market, supply as well as demand, created by COVID-19 pandemic that discourage home seekers to remain interested in buying homes or are afraid of foreclosure. This is particularly exacerbated by job losses; for example, for the week ending on March 21, 2020 the Employment Development Department (EDD) has processed 186,809 unemployment insurance (UI) claims, a 363% increase from the same week in 2019. As a result of this uncertainty, NW Sacramento is experiencing a significant increase in the number of calls from customers experiencing financial issues who are unable to pay their mortgages. These individuals are financially vulnerable to losing their homes or to become victims of fraud. And for those still interested in purchasing, the limited supply of homes remains a restraining factor.
Low-income communities lack resources to buy nutritious food, food stores, or other sources of healthy foods. For example, Sacramento's Oak Park, a low-income community area, has a significant number of residents who live more than a mile from the nearest supermarket (Data from USDA). Information compiled by California Food Policy Advocates, a state anti-hunger advocacy group, indicates that more than 148,000 adults (39%) in Sacramento County lack money and resources to buy good food (food insecure). Almost 1 in 5 people in Sacramento are living in poverty and more than 213,000 individuals receive CalFresh EBT benefits. Oak Park and several surrounding neighborhoods are identified as "communities of concern" in Kaiser's 2016 Community Health Needs Assessment. As a result of these deficiencies, the mortality rate for diabetes is more twice and that of heart diseases is 50% higher in Oak Park than in the State of California.
Low Supply of Affordable Homes in Rural Communities. Rural community's households are unable to afford the cost of housing, according to a study released by the McKinsey Global Institute (MGI). In many rural areas, residents have few mortgage lender options, limiting their ability to obtain affordable mortgages. For example, in Arbuckle, CA, a rural area in Colusa County has been identified as a distressed and underserved census tract by the Federal Financial Institutions Examination Council's (FFIEC). Households in Arbuckle have a median income of $56,824. Of the 1,614 employed residents, 55.1%, earned income that qualify for USDA assistance, 60.5% of homeowners and 58.5% of renters are cost burdened; they spend more than 30% of their income paying housing costs.