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Annual Rent Review Program Evaluation <br />FY 2014-2015 <br /> <br />Page 3 of 11 <br /> <br /> <br />Table 3: Rental Housing Market Trends in San Leandro <br /> <br />Year Average Rent % Annual Change Vacancy Rate <br />2002 $1,090 -8.0% 4.2% <br />2003 $1,054 -3.3% 4.6% <br />2004 $1,011 -4.1% 4.6% <br />2005 $1,011 0.0% 4.7% <br />2006 $1,040 2.9% 3.6% <br />2007 $1,090 4.8% 3.6% <br />2008 $1,154 5.9% 3.1% <br />2009 $1,106 -4.2% 5.4% <br />2010 $1,086 -1.8% 4.1% <br />2011 $1,123 3.4% 2.6% <br />2012 $1,189 5.9% 3.0% <br />2013 $1,216 2.3% 2.6% <br />2014 $1,366 12.3% 2.1% <br />2015* $1,513 10.8% 1.5% <br /> *2nd Quarter of 2015 <br /> Source: RealFacts <br /> <br />Table 4 below reflects the average rent for each bedroom size in San Leandro during second <br />quarter (April through June) of 2015. In comparison to the average rent levels in the 2nd quarter <br />of 2014, the rents increased for studio, 1 bedroom/1 bath, 2 bedroom/1 bath, and 3 bedroom <br />townhome (TH) units. However, the average asking rent for 2 bedroom/2 bath units decreased <br />by 1.6%. <br /> <br />Table 4: Average Asking Rent in San Leandro* <br /> <br />Unit Size 2014 2015 % Change <br />studio $1,049 $1,122 6.9% <br />1bd 1bth $1,251 $1,390 11.1% <br />2bd 1bth $1,405 $1,512 7.6% <br />2bd 2bth $1,645 $1,619 -1.6% <br />3bd TH $2,100 $2,116 0.8% <br /> *2nd Quarter of 2015 <br /> Source: RealFacts