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notably in Pleasanton and the surrounding Tri- Valley area. Some landlords who had previously <br /> accepted Section 8 were no longer willing to do so because of the limitations on the rents that can be <br /> charged under the program. Rents have recently indicated a trend toward stabilization after the <br /> recent peak reached in 2008. However, the rental market still poses a significant challenge to <br /> households in the lower income categories. <br /> Figure 1 shows rent trends in Pleasanton between 1995 and 2009. The figure includes average rents <br /> for one- and two bedroom apartments during the time period as well as the applicable annual <br /> maximum limits for below- market rent (BMR) apartments based on 80% of AMI. <br /> Figure 1: <br /> Rent Trends in Pleasanton <br /> 1995 2009 <br /> $1,900 T r j i <br /> i <br /> $1,700 <br /> CC k <br /> $1,500 -4 1 <br /> CI <br /> v <br /> Rd $1,300 �i— <br /> $1,100 <br /> .a I I <br /> $900 <br /> $700 i -n -I-- r---- 1 -I -r 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 <br /> Year <br /> Avg. Market Rent (IBR) Avg. Market Rent (2BR) <br /> -Avg. BMR Rent (IBR) -Avg. BMR Rent (2BR) <br /> BMR Limit (IBR) BMR Gmit (2BR) <br /> Strategic Plan FY2010 FY2014 <br /> City of Pleasanton <br /> Page 3 <br />