3A Public Hearing 2010 0920 - Laserfiche WebLink

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and continue to do so today. By contrast, the City has seen a decrease in the percentage of its residents over 65. The changes in age distribution have important implications for housing needs. The baby boom generation, now representing almost one - quarter of the City's residents, is approaching retirement age. During the coming decade, there will be an increased need for active retirement housing and independent senior living facilities. As life expectancies increase, the City will continue to have a growing number of frail elderly residents who require skilled nursing and assisted living facilities. San Leandro will also experience a surge in demand for rental apartments and affordable housing as the City's teens and young adults mature. The number of residents in the 25- 34 age cohort is likely to increase substantially during the next 10 years. As these residents form families, the City will also require housing that is suitable for young adults with children. San Leandro experienced significant demographic changes between 1990 and 2000, and these changes have continued to reshape the City since 2000. As the City's population has become more diverse, its housing needs have become more complex. A most compelling change is the increasing number of foreign -born households in the City from 17% in 1990 to an estimated 32% in 2006. The trends suggest a growing need for housing types which recognize the needs of specific immigrant groups (such as extended families). 2. Household Size and Income Other notable demographic changes include an increase in household size and number of children, suggesting a need for more three- and four - bedroom units for larger families. Although the percentage of seniors in San Leandro has declined since 1990, the need for senior housing continues to be high. The need for senior housing will grow significantly as the City's large number of baby boomers reach retirement age. Demographic data also suggests a high need for affordable rental housing for young adults and families —this will continue to be a fast - growing age cohort in the coming years. While the nature of the workforce has changed, the City continues to have a large number of middle- income households and relatively small numbers of households at the upper and lower ends of the income spectrum. The ACS reported that San Leandro's median household income was $60,959 in 2006, which is a 19% increase over 2000. According to ACS, about 20% of San Leandro's households continued to have incomes under $25,000 as of 2006 despite the rise in median income for the City as a whole. Today, about 40% to 45% of San Leandro's households are estimated to meet the US Department of Housing and Urban Development's (HUD) definition of "low," "very low," or "extremely low" income. For example, a family of four earning less than $64,400 would be considered "low- income." A family of four earning less than $45,150 would be "very low income."