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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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Housing Needs Assessment City of Pleasanton | A-65 <br />Figure A-49: Cost-Burdened Senior Households by Income Level <br /> <br />Notes: <br />Universe: Senior households <br />For the purposes of this graph, senior households are those with a householder who is aged 62 or older. Cost burden is the ratio of <br />housing costs to household income. For renters, housing cost is gross rent (contract rent plus utilities). For owners, housing cost is <br />“select monthly owner costs”, which includes mortgage payment, utilities, association fees, insurance, and real estate taxes. HUD <br />defines cost-burdened households as those whose monthly housing costs exceed 30% of monthly income, while severely cost- <br />burdened households are those whose monthly housing costs exceed 50% of monthly income. Income groups are based on HUD <br />calculations for Area Median Income (AMI). HUD calculates the AMI for different metropolitan areas, and the nine county Bay Area <br />includes the following metropolitan areas: Napa Metro Area (Napa County), Oakland-Fremont Metro Area (Alameda and Contra <br />Costa Counties), San Francisco Metro Area (Marin, San Francisco, and San Mateo Counties), San Jose- Sunnyvale-Santa Clara <br />Metro Area (Santa Clara County), Santa Rosa Metro Area (Sonoma County), and Vallejo-Fairfield Metro Area (Solano County). <br />The AMI levels in this chart are based on the HUD metro area where this jurisdiction is located. <br />Source: ABAG 2021 Pre-certified Housing Needs Data (U.S. Department of Housing and Urban Development <br />(HUD), Comprehensive Housing Affordability Strategy (CHAS) ACS tabulation, 2013-2017 release) <br /> <br />Housing Costs Compared to Ability to Pay <br />The ability to pay for housing is a function of housing cost and other essential living expenses in <br />relation to household income. Since above-moderate income households do not generally have <br />problems in locating affordable units, affordable units are frequently defined as those reasonably <br />priced for households that are low- to moderate-income. <br />Table A-16 shows the 2021 income limits and compares these income limits to affordable (no <br />more than 30 percent of gross income) rent and purchase prices. As seen above, the median <br />gross rent in Pleasanton is generally within the range of affordability for households earning 50 <br />percent or more of the Alameda County median income but is not affordable for very low or <br />extremely low-income households. However, the median purchase price of a home in Pleasanton <br />($1,213,900) is out of reach for even high-earning households. Based on December 2020 home <br />price data, households must earn at least 180 percent of AMI, or about $226,080, to be able to <br />afford to buy a home in the city. <br /> <br />20% <br />41%48% <br />69% <br />88% <br />11% <br />32%29% <br />21% <br />9% <br />70% <br />27%23%10% <br />0% <br />20% <br />40% <br />60% <br />80% <br />100% <br />0%-30% of AMI 31%-50% of AMI 51%-80% of AMI 81%-100% of AMI Greater than 100% <br />of AMIPercent of Households0%-30% of Income Used for Housing 30%-50% of Income Used for Housing <br />50%+ of Income Used for Housing
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