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5_Exhibit B_Resolution_Attachment 2
City of Pleasanton
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BOARDS AND COMMISSIONS
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PLANNING
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AGENDA PACKETS
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2020 - PRESENT
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2023
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05-10
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5_Exhibit B_Resolution_Attachment 2
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5/4/2023 3:15:58 PM
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CITY CLERK
CITY CLERK - TYPE
RESOLUTIONS
DOCUMENT DATE
5/10/2023
DESTRUCT DATE
15Y
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A-56 | City of Pleasanton Housing Needs Assessment <br />Section A.5 Housing Costs and Affordability <br />A.5.1 Ownership Costs <br />Home prices reflect a complex mix of supply and demand factors, including an area’s <br />demographic profile, labor market, prevailing wages and job outlook, coupled with land and <br />construction costs. In the Bay Area, the costs of housing have long been among the highest in <br />the nation. It is more expensive to own a home in Pleasanton than it is in Alameda County and <br />the Bay Area. The typical home value in Pleasanton was estimated at $1,213,900 by December <br />of 2020, per data from Zillow. By comparison, the typical home value was $951,380 in Alameda <br />County and $1,077,230 the Bay Area (see Figure A-40)20. <br />The region’s home values have increased steadily since 2000, besides a decrease during the <br />Great Recession. The rise in home prices has been especially steep since 2012, with the median <br />home value in the Bay Area nearly doubling during this time. Since 2001, the typical home value <br />has increased 143.8 percent in Pleasanton from $497,900 to $1,213,900. <br />Figure A-40: Zillow Home Value Index (ZHVI) <br /> <br />Notes: <br />Universe: Owner-occupied housing units <br />Zillow describes the ZHVI as a smoothed, seasonally adjusted measure of the typical home value and market changes across a <br />given region and housing type. The ZHVI reflects the typical value for homes in the 35th to 65th percentile range. The ZHVI reflects <br />the typical value for homes in the 35th to 65th percentile range. The ZHVI includes all owner-occupied housing units, including both <br />single-family homes and condominiums. More information on the ZHVI is available from Zillow. The regional estimate is a <br />household-weighted average of county-level ZHVI files, where household counts are yearly estimates from DOF’s E-5 series. For <br />unincorporated areas, the value is a population weighted average of unincorporated communities in the county matched to census- <br />designated population counts. <br /> Source: ABAG 2021 Pre-certified Housing Needs Data (Zillow, Zillow Home Value Index (ZHVI)) <br /> <br /> <br />20 According to the Zillow Home Value Index (ZHVI), in July 2021, typical home values increased to $1,486,151 in <br />Pleasanton and $1,121,267 in Alameda County, a 22.4 and 17.9 percent increase, respectively, since December 2020. <br /> $100,000 <br /> $300,000 <br /> $500,000 <br /> $700,000 <br /> $900,000 <br /> $1,100,000 <br /> $1,300,000 <br />Bay Area Alameda County Pleasanton
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