A recent statewide study of homelessness in California, found that the majority of people had lost their living spaces due to rising rent.

https://www.ucsf.edu/news/2023/06/425646/california-statewide-study-investigates-causes-and-impacts-homelessness

"The study found that for most of the participants, the cost of housing had simply become unsustainable. Participants reported a median monthly household income of $960 in the six months prior to their homelessness, and most believed that either rental subsidies or one-time financial help would have prevented their homelessness."