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Median Rents All Home Types, 2011-2015 Alameda County $2,900 52,700 I--.. 2,724 52,500 52,300 -- $2,354 52,100 $2,128 $1,900 $2,031 $2,041 $1,700 $1,500 2011 2012 2013 2014 2015 Source:Zillow Rent Index(ZRI),Median Rent Series At the same time that rents are increasing so rapidly, incomes in Alameda County are not keeping up with rapidly increasing rental housing costs. In addition to retired seniors and people with disabilities receiving Social Security Income (SSI), many working households do not earn high enough wages to afford housing in our communities. A sample is shown in the chart below to illustrate this point: ALAMEDA COUNTY RENTERS NEED TO EARN$7.547 A MONTH TO AFFORD AVERAGE ASKING RENTS Average Asking Rent $2.264 Income Needed to Afford $7.547/month OR $43.54/hr Average Asking Rent City of Oakland Minimum Wage $2,175 $12.55/hr Retail Salespersons $2,488 $14.35/hr Janitors and Cleaners $2,663 $15.36/hr Nursing Assistants $2,846 $16.42/hr Customer Service Representatives $3,703 $21.36/hr Truck Drivers $3,958 $22.83/hr SO S\oo° $2 000 SS P°° 0 000 Sa`J OOO '46 000 S i 000 SS 000 Source:CHPC Analysis of Real Answers Alameda County average rent data for the 1st Quarter 2016 and Bureau of Labor Statistics Average Annual Wage Data for CA Occupations 2015. High and rising rental housing costs are especially difficult for the lowest-income populations and other vulnerable populations in Alameda County, including the over 4,000 people who are homeless every night across Alameda County. Almost 30%of very-low and 73%of extremely low-income households in Alameda County spend more than half of their incomes on rent. There is a shortfall of over 60,000 homes affordable to very low-and extremely low-income households in Alameda County. 4