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annual income of $84,000 to purchase a home. In 2004, home prices have continued to rise while rents have declined. Housing Stack and Ownership The 2000 Census counted 31,334 housing units in San Leandro. This was an increase of 1,145 units {almost 4%) from 1990. The Census data points out one of the most telling trends about San Leandro in the 1990s -population has been increasing at a much faster rate than the number of housing units. In 2000, 50% of the City's housing consisted of single family detached homes. Another 6% consisted of single family attached homes {townhomes}. A similar percentage was contained in duplexes, triplexes, and fourplexes. Just aver a quarter was multi-family units in buildings of 5 units or more, and 3% were mobile homes. The data suggest the potential for pent-up demand for multi-family housing as a result of the lack of construction of this product type. During the 1990s, the supply of rental housing did not keep up with demand, particularly between 1995 and 2000. According to the 2000 Census, 40% of the population was renters and 60% were owners, of which 38% are over 65 years old. Most of the housing stock in San Leandro consists of two- and three-bedroom units. In 2000, two-bedroom units accounted for 31% of the City total and three-bedroom units accounted for 35% of the total. Units with four or more bedrooms made up just seven percent of the total, and almost all were owner occupied. Only 15% of the City's rental housing stock consists of units with three bedrooms or more. By contrast, 62% of the City's owner-occupied housing stock consists of units with three bedrooms or more. Nearly half of San Leandro's housing stock was built during the post-war construction boom between 1945 and 1950. Many of these units are now 50 years old or more and face increasing needs for rehabilitation and repair. Most of the older housing stock is owner-occupied with many original owners. A disproportionately large share of the City's older housing stock is occupied by persons over 75 years old. Jobs-Housing Balance Despite several major housing development projects completed during the late 1990s, San Leandro gained more jobs than housing units during the decade. In 1990, there were 1.62 jobs for every household in the City. By 2000, there were 1.76 jobs for every household in the City. The City exceeds the Bay Area jobs to housing ratio {L52), meaning that more people commute into San Leandro than commute out for work. The General Plan anticipates the addition of 9,275 jobs over the 2000-2415 time period. The Association of Bay Area Governments {ABAG) projects an addition of 6,760 jobs. Maintaining the current jabs-housing ratio would require the production of between 3,800 to 5,200 units of housing in San Leandro by 2415 - a figure that would be extremely difficult to achieve given the City's built out character. As long as job growth outpaces housing growth, vacancy rates in the City are likely to remain low and housing prices are likely to continue escalating. Some of the City's land use policies support the development of housing in excess of the ABAG projections, Largely through the redevelopment of older commercial properties and denser development around transit. 2004-2009 Implementation Plan Page 20