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02 ATTACHMENT 2
City of Pleasanton
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CITY CLERK
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AGENDA PACKETS
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2023
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012623 SPECIAL
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02 ATTACHMENT 2
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1/20/2023 5:43:46 PM
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CITY CLERK
CITY CLERK - TYPE
AGENDA REPORT
DOCUMENT DATE
1/26/2023
DESTRUCT DATE
15Y
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A-60 | City of Pleasanton Housing Needs Assessment <br />Figure A-44: Cost Burden Severity <br /> <br />Notes: <br />Cost burden is the ratio of housing costs to household income. For renters, housing cost is gross rent (contract rent plus utilities). <br />For owners, housing cost is "select monthly owner costs", which includes mortgage payment, utilities, association fees, insurance, <br />and real estate taxes. HUD defines cost-burdened households as those whose monthly housing costs exceed 30% of monthly <br />income, while severely cost-burdened households are those whose monthly housing costs exceed 50% of monthly income. <br />Source: ABAG 2021 Pre-certified Housing Needs Data (U.S. Census Bureau, American Community Survey 5-Year <br />Data (2015-2019), Table B25070, B25091) <br /> <br />Renters are often more cost-burdened than owners. While the housing market has resulted in <br />home prices increasing dramatically, homeowners often have mortgages with fixed rates, <br />whereas renters are more likely to be impacted by market increases. When looking at the cost <br />burden across tenure in Pleasanton, 22.6 percent of renters spend 30 to 50 percent of their <br />income on housing compared to 13.7 percent of those that own (see Figure A-45). Additionally, <br />21.0 percent of renters spend 50 percent or more of their income on housing, while 9.9 percent <br />of owners are severely cost burdened. In total, almost 24 percent of homeowners are cost <br />burdened (4,787 households), while almost 44 percent of renters are cost burdened (3,804 <br />households). <br /> <br />69%61%62% <br />16% <br />20%20% <br />13%17%16% <br />0% <br />10% <br />20% <br />30% <br />40% <br />50% <br />60% <br />70% <br />80% <br />90% <br />100% <br />Pleasanton Alameda County Bay AreaPercent of Households0%-30% of Income Used for Housing 30%-50% of Income Used for Housing <br />50%+ of Income Used for Housing Not Computed
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