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103 <br />Value Index. The median household income in Santa Ana in 2022 was less than half that, <br />$84,210. A household would need to earn about $116,000 annually to afford a two-bedroom <br />rental in the City. A full-time minimum wage employee will gross approximately $30,000 <br />annually. <br />Figure 12 – Rental & Ownership Housing Income <br />Data Source: 2022 Zumper Research, Zillow Home Value Index & Mortgage Calculator, CA <br />Minimum Wage Data, Freddie Mac 30 Year Fixed Interest Rate Mortgage Data <br />Note: Housing income was calculated based on 30 percent of market rate housing costs, HUD area <br />median income, and Freddie Mac reporting of average 30-year fixed mortgage rates. <br />EXHIBIT 1