About Us
Founded in San Diego, California during the pandemic, REpurposeFund aspires to fill the affordable housing gap by converting outdated properties into workforce units geared toward the missing middle, or those making between 80%-120% of area median income (AMI). Our target markets are those that have seen the missing middle priced out of rental housing close to their jobs.
Who are the missing middle?
Those making between 80%-120% of AMI come from all occupations, including firefighters, policemen, nurses and construction workers. These workers are major contributors to their communities and often have to live far from them because of an increasingly unaffordable rental market.
80%-120% AMI in our target markets:
San Diego: $64k-$96k
Los Angeles: $54k-$82k
Orange County: $75k-$108k
Inland Empire: $58k-$86k
Phoenix: $38k-$56k
Las Vegas: $59k-$90k
Why are they underserved?
Those making over 120% of AMI have ample options for housing and those making less than 80% of AMI often qualify for some form of government subsidized housing. Those making between 80%-120% of AMI make up a high concentration of renters yet they have the least housing options.