The Public Policy Institute of California has released their Californians and Their Economic Well-Being survey results and the findings paint a troubling outlook for middle- and lower-income residents.
Per the report, 24 percent of California renters would “seriously consider” moving out of state, with the cost of living placing extensive stress on households. California renters pay an average 32 percent of their income toward rent placing the state within the top four most expensive places for renters to live in the country, per the Census.
Additionally, the survey found that 25 percent of Californians and 36 percent of lower-income residents worry every day or almost every day about housing costs. Seven in 10 Californians see widening income inequality in their part of the state
“Solid majorities of Californians say the gap between rich and poor in their region is increasing and that children growing up in California today will be worse off than their parents,” said Mark Baldassare, PPIC president and CEO.
The findings come from a survey of 2,292 California adults conducted in October.