Housing costs are the largest share of most household budgets and access to stable housing is a key driver of economic stability. Yet millions of Californians — in every region of the state — struggle to pay their rents or mortgages each month. The state’s high cost of housing, lack of affordable housing, and stagnant wages block Californians from achieving economic security, including having a stable home. These challenges are especially acute for Black, Latinx, and undocumented Californians. The Budget Center analyzes housing affordability and highlights policy solutions to expand housing and economic opportunities for Californians as well as individuals experiencing homelessness.