New Housing Coming to San Jose

A stretch of Alum Rock Avenue in San Jose will eventually be home to 60 units of much-needed housing.

The construction comes at a time when project lead Charities Housing says the need is getting desperate.

"We just need to build more, to build faster, get community support, and get the funding and the land," Charities Housing President Gregory Kepferle said.

Ribbon cutting for the project is expected in 2025.

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Charities Housing said it has close to 2,000 other units in development over the next few years.

Buying a home and Making it in the Bay is challenging. And now, a new study shows that renting is also challenging -- and not just in San Francisco. NBC Bay Area’s Raj Mathai spoke to Business and Tech reporter Scott Budman about the latest numbers.

According to Bay Area rental tracker Zumper, the lack of available housing is even hitting the rental market, driving up prices to the point where several Bay Area cities now average $3,000 and above for an average one-bedroom apartment.

"Which means that those buyers that may have the resources to purchase, aren't able to find inventory in order to purchase, and then that puts more strain on the rental stock of housing," Housing Trust Silicon Valley CEO Noni Ramos said.