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Housing Needs Assessment City of Pleasanton | A-67
<br />Table A-16: 2021 Alameda County Ability to Pay for Housing and Fair Market Rent and Purchase Prices
<br /> Number of Persons in Household
<br />1 2 3 4
<br />Max. Monthly Gross Rent1 $3,296 $3,769 $4,239 $4,710
<br />Max. Purchase Price 5% down2 $559,400 $646,200 $732,400 $818,700
<br />Max. Purchase Price 20% down3 $754,000 $871,300 $987,500 $1,104,000
<br />150-180% AMI
<br />Annual Income Limit $158,220 $180,900 $203,490 $226,080
<br />Monthly Income $13,185 $15,075 $16,958 $18,840
<br />Max. Monthly Gross Rent1 $3,956 $4,523 $5,087 $5,652
<br />Max. Purchase Price 5% down2 $682,600 $786,900 $890,600 $994,500
<br />Max. Purchase Price 20% down3 $917,400 $1,057,600 $1,197,000 $1,336,900
<br />180-200% AMI
<br />Annual Income Limit $175,800 $201,000 $226,100 $251,200
<br />Monthly Income $14,650 $16,750 $18,842 $20,933
<br />Max. Monthly Gross Rent1 $4,395 $5,025 $5,653 $6,280
<br />Max. Purchase Price 5% down2 $763,300 $879,300 $994,700 $1,110,100
<br />Max. Purchase Price 20% down3 $1,026,000 $1,181,700 $1,336,910 $1,492,000
<br />Notes:
<br />1 30% of income devoted to maximum monthly rent or mortgage payment, including utilities, taxes, and insurance
<br />2 Assumes 95% loan (i.e., 5% down payment) @ 2.875% annual interest rate and 30-year term
<br />3 Assumes 80% loan (i.e., 20% down payment) @ 2.875% annual interest rate and 30-year term
<br />Source: Zillow Mortgage Calculator
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<br />A.5.4 At-Risk Housing Assessment
<br />While there is an immense need to produce new affordable housing units, ensuring that the
<br />existing affordable housing stock remains affordable is equally important. Additionally, it is
<br />typically faster and less expensive to preserve currently affordable units that are at risk of
<br />converting to market-rate than it is to build new affordable housing.
<br />The data in Table A-17 comes from the California Housing Partnership’s Preservation Database,
<br />the state’s most comprehensive source of information on subsidized affordable housing at risk of
<br />losing its affordable status and converting to market-rate housing. This data has been updated by
<br />the California Housing Partnership in coordination with the City to ensure a comprehensive listing.
<br />According to this database, there are 1,123 assisted units in Pleasanton in the Preservation
<br />Database. Of these units, none are at moderate, high, or very high risk of conversion. As this
<br />database does not include all deed-restricted affordable units in the state, the City has reviewed
<br />its records for below market rate regulatory agreements. Since 2001, the City has required all
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