SACRAMENTO (AP) — California lawmakers sent Gov. Gavin Newsom legislation Wednesday capping rent increases as the nation’s most populous state struggles with an affordable housing and a homelessness crisis.
Assembly members voted 46-22 to limit annual rent increases at 5% plus inflation. The cap expires in 2030 and would not apply to housing built within the last 15 years and single-family homes not owned by corporations or trusts. Also exempt are duplexes where the owner lives in one unit.