This report presents new data and analyses that illustrate how rising rents and stagnant incomes are straining household budgets and stifling opportunity in the nine-county Bay Area, jeopardizing the region’s diversity, growth, and prosperity. The twin forces of a housing shortage — particularly affordable housing — and uneven wage growth have created a regional crisis that hinders opportunity, growth, and prosperity for families and businesses alike. Though the housing crisis is far-reaching, it has hit low-income communities of color the hardest. Considering people of color are driving population growth in the region, these racial inequities pose a serious threat to the Bay Area’s future. The report was developed as part of the Bay Area Equity Atlas, a partnership between PolicyLink, The San Francisco Foundation, and the Program for Environmental and Regional Equity at the University of Southern California (PERE) that is working to create a regional platform designed to provide data and serve those who are seeking to advance solutions at a local and regional scale.