>$3,447 is the asking price for apartments now on the market. $1,600 is the median rent price people are actually paying, including people with rent control and

>$3,447 is the asking price for apartments now on the market. $1,600 is the median rent price people are actually paying, including people with rent control and affordable housing. People who have been living in rent-controlled apartments for many years pay a fraction of the current market rate. Which is why this problem is a slow burn. It's not like everyone was evicted and the worker pool cratered overnight. But as existing low/middle income workers leave for whatever reason, they cannot be replaced. Their numbers are on a one-way ratchet downward.