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Housing Market Analysis MA-05 Overview Housing Market Analysis Overview: The Housing Market Analysis examines current and projected population figures, income levels,ethnic composition, and age composition to obtain a profile of the residents who make up the Consortium's housing market. It also describes characteristics of the housing stock, including general supply, condition, and housing available to people with special needs. The Housing Market Analysis also includes a profile of public and other assisted housing available, and the supportive housing,services, and facilities available for special needs populations. The Alameda County 2015 Analysis of Impediments to Fair Housing found.that the lack of affordable housing results in significant hardships for low-income households, preventing them from.meeting,other basic needs. Moderate income households are also increasingly being affected by the raising costs'of housing and associated costs(taxes, insurance, homeowners' association fees, and home maintenance and repairs). Because home ownership is out of reach for many residents;.low-and moderate-income households generally rent their homes as opposed to purchasing one.Of the 362,604 occupied housing units located in the Consortium, 60.5% are owner-occupied and the other 39.5%of homes are occupied by tenants. Household incomes vary greatly across Consortium jurisdictions. Pleasanton is the highest-income entitlement jurisdiction with a median household income'of$111,200 in 2014. It also has the newest housing stock with a median year built of 1983,just over 20 years old. Pleasanton is among the five Consortium jurisdictions with the highest volume ofall single-family home sales in the first half of 2014. These cities (Pleasanton, Fremont, Hayward, Livermore,and San Leandro)account for half of all sales in the County, and nearly two-thirds of sales in the Consortium, during that period. The median sales price in Pleasanton in 2014 was$874,500 for single family units and$463,500 for condominiums which was significantly above the county-wide averages of$605,000 and$405,000, respectively. As of July 2014,the average monthly rent across all Consortium jurisdictions is $1,819, up from$1,360 in 2009.Average rents are highest in Pleasanton, Dublin, and Emeryville, where rents range from$2,030 to $2,410. During the same period,tile-highest vacancy rate in the Consortium was found to be in Pleasanton (4.2 percent). However,this rate is significantly lower than the rate of 5.0 percent,which is generally viewed by housing economists as the level sufficient to provide adequate choice and mobility for households in the rental market. More recent anecdotal data indicate that the vacancy rate has likely decreased further during the past year. The extremely low vacancy rates throughout the Consortium indicate a tight rental housing market in Alameda County, where options for renter households are highly constrained. Consolidated Plan PLEASANTON 20 OMB Control No:2506-0117(exp.07/31/2015)