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Introduction This preliminary report provides a high-level summary of the key findings from the technical analysis conducted as a part of the City's Housing Element Update process. Housing Needs Assessment Housing needs are determined by a city's population and its existing housing stock. This data provides context for developing housing policy, such as which types of housing and its affordability levels are most needed in the community. The following summarizes key data from the housing needs assessment. The complete needs assessment is attached as Appendix A. • Pleasanton has a higher income population than Alameda County (county). Pleasanton's 2019 median household income was $156,400, 57% higher than the county ($99,406). However, 7.6% of households in Pleasanton are extremely low-income, and almost one in five of Pleasanton households are low-income households (earn less than 80% of Area Median Income (AMI)). • Home prices are higher in Pleasanton than in the county. Households must earn about $226,080 (at least 180% of AMI) to be able to afford to buy a home in the city. A household must earn about $125,600 (100% of AM]) to be able to afford market rent in Pleasanton. • Almost 24% of Pleasanton homeowners are cost burdened, meaning they spend 30% or more of gross income on housing costs, while almost 44% of renters are cost burdened. Additionally, 21% of renters spend 50% or more of their income on housing, compared to about 10% of homeowners. Pleasanton has a lower proportion of cost -burdened households compared to the county. • Renter households are more likely to be living in overcrowded conditions than owner -occupied households. Although Pleasanton has a lower rate of overcrowding compared to the region, about 7% of renter households live in overcrowded conditions. • Half of Pleasanton's population is White, 34.6% Asian, 9.5% Latinx, and 1.8% African American. People of color comprise a lower proportion of Pleasanton's population compared to the Bay Area. African American residents experience the highest rates of poverty in Pleasanton. • Pleasanton's median age is 41 years, higher than the county (38 years). Seniors (65 years and above) make up almost 15% of the population. Out of the total senior population, approximately one-third is cost burdened. Seniors are a special needs group because they are more likely to be on a fixed income while requiring higher levels of care. • Pleasanton's special housing needs population include persons with a disability that may require accessible housing (7.0% of residents) and female -headed households who are often at greater risk of housing insecurity (6.9% of households). • Pleasanton has 2,291 large households (five or more people), which are generally served by 3 - bedroom or larger units. Pleasanton's housing mix of 3 -bedroom or larger units (20,442 units) is adequate to accommodate larger families. Preliminary Report 16' Cycle Housing Element City of Pleasanton 11