Story at a glance
- Homebuyers in Milpitas face difficult market conditions, where the average home in July sold in in about six days.
- The median price of a home in the city is around $1.3 million.
- “We’ve lost out on some employees that we tried to recruit because once they see how much it costs to live here, they determine that it’s just not possible,” Milpitas Unified School District Superintendent Cheryl Jordan told a local NBC affiliate in August.
A California school district is asking parents to rent out rooms to teachers to battle the growing housing crisis by offering educators affordable living spaces close to their schools.
Milpitas Unified School District made the request late last month as teachers struggled to find affordable housing in the Silicon Valley city.
“We’ve lost out on some employees that we tried to recruit because once they see how much it costs to live here, they determine that it’s just not possible,” Milpitas Unified School District Superintendent Cheryl Jordan told a local NBC affiliate in August.
Jordan told NPR that the district had already received 55 responses from families.
Homebuyers in Milpitas face difficult market conditions, where the average home in July sold in about six days. The median price of a home in the city is around $1.4 million, according to an analysis from the real estate company Redfin.
Although homebuyers nationwide are experiencing cooling markets, mortgage rates have more than doubled over the last year reaching a fixed rate of 5.66 percent over 30 years as of Sept. 1.
Average rental costs have also soared in Milpitas, jumping more than 10 percent over the last year to $2,757 for a one-bedroom unit, an Apartments.com market analysis shows.
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The district noted in a July resolution that “the gap between those who can afford a home in the San Francisco Bay Area and those who cannot, is widening at an alarming rate, with some having to hold part-time jobs to meet monthly housing expenses, and affordable rental housing is in short supply.”
“Milpitas Unified School District supports partnerships involving homebuilders, community groups, and local governments to enhance affordability and to increase production of affordable workforce housing,” the resolution read.
Changing America has reached out to Milpitas Unified School District for comment.
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