In Los Angeles, over 600,000 units are preserved affordable through the Rent Stabilization Ordinance – meaning as long as tenants do not leave, the rent will be subject to rent control, which keeps units affordable.

Between 2019 and 2023, more than 10,000 affordable units across Los Angeles will convert to market rates as their 30-year affordability covenants expire, threatening to displace more tenants and set back progress. While new construction is important, preserving the City’s already-existing affordable housing stock is equally important – given current construction prices, it is cheaper to save an already-affordable housing development than to build a new one from the ground up.

Resources:

LA’s Affordable Housing Stock Overview

Lessons on Preserving Affordable Housing