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Table 4
<br /> New Home Prices and Required Incomes by Unit Size
<br /> Pleasanton Housing Impact Fee, EPS#151111
<br /> Beginning Annual Annual Annual HOA+ Total Annual Required
<br /> Unit Size Average Down Mortgage Mortgage Taxes Insurance Housing Household
<br /> (Sq. Ft.) Base Price (1) Payment(2) Principal Payment(3) at 1.15% (4) Fees (5) Costs Income (6)
<br /> 1,000 $412,000 $82,400 $329,600 $20,235 $4,738 $3,480 $28,453 $81,300
<br /> 1,500 $689,000 $172,250 $516,750 $31,724 $7,924 $3,480 $43,128 $123,200
<br /> 2,000 $923,400 $277,020 $646,380 $39,682 $10,619 $3,480 $53,781 $153,700
<br /> 2,500 $1,235,000 $432,250 $802,750 $49,282 $14,203 $3,480 $66,965 $191,300
<br /> 3,000 $1,486,000 $594,400 $891,600 $54,737 $17,089 $3,480 $75,306 $215,200
<br /> 3,500 $1,643,000 $657,200 $985,800 $60,520 $18,895 $3,480 $82,894 $236,800
<br /> (1)Based on recent sales price data Redfin.com and DataQuick for homes built since 2005 and sold between January 2015 and February 2016. Due to limited newly constructed
<br /> home sales for the 1,000 to 2,000 square foot categories, EPS utilized older construction unit sale data and has assumed that new construction would receive a modest premium
<br /> over average prices for all homes(including resales),which is consistent with Redfin and Zillow data.
<br /> (2)Varies from 20%for 1,000-square foot units to 40%for 3,000-square foot units and above; reflective of larger sized home purchasers largely consisting of"buy up"buyers with
<br /> equity in existing investments.
<br /> `., (3)Assumes 4.5%interest for 30 years.
<br /> (4)Tax rate allows for some special assessments above 1.00%basic tax rate.
<br /> (5)A Redfin.com survey of Pleasanton, Dublin, Livermore and San Ramon homes for sale across a range of projects on January 21,2016 indicates an average HOA fee of
<br /> $290/month. Some of these projects may include insurance costs in the HOA fees,while others may not. To be conservative, EPS has assumed that the average HOA fee does
<br /> include insurance.
<br /> (6)Assumes households spend 35%of total household income on total annual housing costs.
<br /> Sources: Redfin.com;DataQuick;Zillow; Economic&Planning Systems, Inc.
<br /> Economic 8 Planning Systems,Inc. 2/27/2018 P:1151000s1151111PleasantonFeelModell151111mod1 forsale011516.xIs
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