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5_Exhibit B_Resolution_Attachment 2
City of Pleasanton
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2020 - PRESENT
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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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Housing Needs Assessment City of Pleasanton | A-61 <br />Figure A-45: Cost Burden by Tenure <br /> <br />Notes: <br />Universe: Occupied housing units <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 />In Pleasanton, 13.0 percent of households spend 50 percent or more of their income on housing, <br />while 16.9 percent spend 30 to 50 percent. However, these rates vary greatly across income <br />categories (see Figure A-46). As expected, lower-income households are more likely to be <br />housing cost-burdened than higher-income households. For example, among low-income <br />Pleasanton households (earning 80 percent of AMI or less) 76.4 percent (4,034 households) are <br />cost burdened, and 52.8 percent (2,785 households) are severely cost burdened. 79.8 percent <br />(1,560 households) of Pleasanton households making less than 30 percent of AMI spend most of <br />their income on housing. For Pleasanton residents making more than 100 percent of AMI, just 2.2 <br />percent are severely cost-burdened, and 84.1 percent of those making more than 100 percent of <br />AMI spend less than 30 percent of their income on housing. <br />Low-income households that rent are also more likely to overpay for housing than low-income <br />homeowners. Among low-income Pleasanton households that are cost burdened, 58 percent <br />(2,345 households) rent their home, and 42 percent (1,690) are homeowners. This Housing <br />Element includes Program 2.8 to develop an enhanced local rental assistance program to off-set <br />the costs of market-rate rents for qualifying lower and moderate-income households when <br />payment of those rents would result in overpayment or severe overpayment. Under Program 2.12, <br />the City will offer financial support to reduce overpayment through the City’s Down Payment <br />Assistance Program also o financial support to reduce overpayment. <br /> <br />76% <br />53% <br />14% <br />23% <br />10% <br />21% <br />0% <br />10% <br />20% <br />30% <br />40% <br />50% <br />60% <br />70% <br />80% <br />90% <br />100% <br />Owner Occupied Renter OccupiedPercent 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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