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WORKING DRAFT FOR HCD REVIEW <br />NEEDS ASSESSMENT 3-20 SAN LEANDRO HOUSING ELEMENT <br />San Leandro was lower than Oakland, Hayward, Dublin, and Union City, but higher than Alameda, <br />Berkeley, Fremont, and Pleasanton. <br /> <br />Conclusions <br /> <br />The housing market in San Leandro has seen both positive and negative changes in the last seven years. <br />For lower income renters, the city has become significantly less affordable. Almost no inventory has <br />been added and prices have been rising more rapidly than income. The inventory of rental units remains <br />very tight, especially for large families. <br /> <br />For owners, the city continues to recover from the 2007-10 recession. Recent price increases have helped <br />homeowners regain much of the equity lost during the recession. The number of foreclosures is down and <br />fewer homes are “underwater.” Conversely, prices are now rising faster than income, creating new <br />challenges for first-time and lower income buyers. <br /> <br />employment <br /> <br />Employment in a community can affect the demand for housing and the type of housing that is needed. In <br />2012, there were about 40,900 employed residents in San Leandro. Approximately 21 percent of the <br />city’s residents are employed in health, education, and social services; 12 percent in professional services; <br />9 percent in arts, entertainment, food and hospitality services; and 12 percent in finance, insurance, real <br />estate, information, and other services. Some 11 percent of the city’s residents were employed in retail <br />trade, while another 4 percent were employed in wholesale trade. <br /> <br />There were about 4,500 residents—or 11 percent of the city’s labor force—employed in manufacturing. <br />About 5 percent of the city’s residents were employed in construction and 8 percent were employed in <br />transportation, utilities, and warehousing. The remaining 5 percent of the city’s residents were employed <br />in public administration (including schools and City government). A relatively large number of residents <br />are employed in low-wage professions such as retail sales (median local wage: $20,760), food services <br />(median local wage: $21,070), and administrative support (median local wage: $27,005).7 <br /> <br />When the last Housing Element was prepared in 2008-2009, the unemployment rate in the city was over <br />10 percent. This was a sharp increase from 2006, when it was below 5 percent. In August 2010, the <br />unemployment rate peaked at 11.6 percent. As indicated in Chart 3-4, it has declined since that time and <br />was 5.7 percent in April 2014. <br /> <br /> <br />7 American Community Survey, 2008-2012