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Housing Needs Assessment Draft Housing Element 2-33 Table 2.30 Homeownership Distribution by Race/Ethnicity Relative to Household Population Primary Residence Share of Wealth by Race/Ethnicity1 Jurisdiction Asian-American Homeowners Black/African American Homeowners Hispanic/ Latino Homeowners Non-Hispanic White Homeowners Other Non-White Homeowners San Leandro 36.4% (+7.5) 3.4% (-6.9) 10.4% (-5.9) 45.8% (+6.4) 4.0% (-1.1) Oakland 18.9% (+2.7) 13.7 (-11.1) 9.0% (-9.4) 55.0% (+19.4) 3.5% (-1.2) Hayward 40.7% (+13.2) 6.1% (-4.8) 21.0% (-11.8) 27.8% (+4.2) 4.4% (-0.7) City of Alameda 36.4% (+7.5) 3.4% (-6.9) 10.5% (-5.8) 45.7% (+6.3) 4.0% (-1.1) Union City 63.8% (+9.2) 1.6% (-2.4) 16.0% (-2.1) 17.1 (-1.5) 1.5% (-3.6) 1Primary residence wealth is the percent of San Leandro Homeowners by Race/Ethnicity. The percentage difference relative to household population is in parenthesis. Source: Urban Institute, Tracking Homeownership Wealth Gaps, 2021 2.18 Housing Rents Table 2.31 shows the distribution of contract rents for renter-occupied units in San Leandro and Alameda County. The U.S. Census Bureau defines contract rent as the monthly rent agreed upon regardless of any furnishings, utilities, or services that may be included.12 According to the 2015- 2019 ACS, most (65 percent) San Leandro renters were paying a monthly rent between $1,000 and $2,000, while 21 percent paid more than $2,000 per month and 13 percent paid less than $1,000 per month. In contrast, 36 percent of renters in Alameda County paid $2,000 per month or more; therefore, San Leandro renters generally pay less in rent than other areas of the county (except for the City of Oakland). Table 2.31 Contract Rents for Renter-Occupied Units Jurisdiction Rent Less than $500 Rent $500-$1000 Rent $1000-$1500 Rent $1500-$2000 Rent $2000-$2500 Rent $2500-$3000 Rent $3000 or More San Leandro 4.5% 8.8% 35.2% 30.1% 14.5% 4.6% 2.3% Oakland 11.0% 19.3% 28.2% 20.2% 10.2% 5.8% 5.2% Hayward 3.3% 7.4% 22.3% 36.5% 18.8% 8.8% 2.8% Alameda 6.0% 5.7% 23.7% 28.5% 19.7% 9.5% 6.8% Union City 2.9% 4.2% 8.2% 32.0% 27.4% 16.0% 9.3% Alameda County 6.4% 11.8% 22.0% 24.9% 17.1% 10.6% 7.2% Source: U.S. Census Bureau, American Community Survey 5-Year Data (2015-2019), Table B25056 According to 2015-2019 ACS, San Leandro renters paid a median contract rent of $1,525 per month. Compared to surrounding cities, the median contract rent in San Leandro was slightly lower than Alameda County as a whole ($1,697) and the City of Hayward ($1,733), but higher than contract rent costs in the City of Oakland ($1,345). Figure 2.11 shows trends in median contract rent trends for San Leandro, Oakland, Hayward, and Alameda County from 2009 to 2019. Median rental cost began to sharply increase around 2016 for all cities. 12 U.S. Census Bureau, Definitions and Explanations, 2021.