Reso 2020-056 US HUD FY 2020-2024 5-Year Plan, 19-20 Action plan and CPP

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Housing Market Analysis MA-05 Overview Housing Market Analysis Overview: San Leandro is located on the east shore of San Francisco Bay approximately 8 miles south of Oakland, 15 miles southeast of San Francisco, and 35 miles north of San Jose. It is the fifth largest of Alameda County's 14 cities in population the sixth largest in number of jobs. It is bounded on the north by Oakland and on the south by the unincorporated communities of San Lorenzo and Ashland. The western edge of the city is defined by San Francisco Bay, while the East Bay hills define the eastern edge. The Bay Area is one of the most expensive housing markets in the United States though San Leandro has maintained relatively affordable compared to the Bay Area's larger Cities and job centers. The following is an excerpt from the City's Housing Element Needs Assessment and Local Housing Costs for the period 2015-2023 (based on an analysis done using available data as of "2014). Home prices and rents in San Leandro have fluctuated at dramatic rates between 1999 and 2014, as they had throughout the Bay Area as a whole. The City experienced a rapid run-up in home prices between 1998-2000, continued price inflation (although at a slower rate) through 2006, a steep and unprecedented decline between 2007-2011, and a rapid increase in 2012-2014. According to American Community Survey 5-Year Estimates and the Comprehensive Housing Affordability Strategy (CHAS) data the current population of the City of San Leandro is 84,950 in approximately 31,360 households. Of those households, there are approximately 55.5% homeowners and 45.5% renters. There are approximately 18,845 households making below the HUD Area Median Family Income (HAMFI) level or approximately 60% of households. For a family of four, the HAMFI is approximately $112,000. Of those households making below HAMFI, 22% have at least one person above the age of 62 years old and 10% have at least one person under the age of 6 years old. The number of households headed by senior citizens and who own and live in their homes is very high compared to the rest of the population in the City-68% compared to the general population of owner - occupied residences. According to CHAS data 38% of all San Leandro households are "cost burdened" paying more than 30% of their gross income on housing and 18% of households "severely cost burdened" paying more than 50% of their gross income on housing. Renter households have significantly higher cost burden at 48% of households and severe cost burden at 23% of households. An analysis of housing costs that was conducted for the FY 2015-2019 Consolidated Plan was compared to a survey conducted in the Fall of 2019. Both surveys conducted used local resources (e.g.: Craigslist, Consolidated Plan SAN LEANDRO 29 OMB Control No: 2506-0117 (exp. 06/30/2018)