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City of San Leandro
<br />2023-2031 Housing Element Update
<br />
<br />2-36
<br /> Annual
<br />Income
<br />Limits
<br />Affordable
<br />Monthly
<br />Housing
<br />Costs
<br />Rental
<br />Utility
<br />Allowance
<br />(2020)
<br />Ownership
<br />Utility
<br />Allowance
<br />(2020)
<br />Taxes,
<br />Insurance,
<br />Homeowners
<br />Association
<br />Fees
<br />Affordable
<br />Rent
<br />Affordable
<br />Home Price
<br />Moderate Income (100-120% AMI)
<br />1-Person $105,500 $2,638 $186 $203 $923 $2,452 $398,445
<br />2-Person $120,550 $3,014 $222 $243 $1,055 $2,792 $452,356
<br />3-Person $135,650 $3,391 $274 $306 $1,187 $3,118 $500,288
<br />4-Person $150,700 $3,768 $349 $392 $1,319 $3,419 $542,077
<br />5-Person $162,750 $4,069 $392 $463 $1,424 $3,677 $574,970
<br />Sources: 2021 HCD Income Limits; Alameda County Housing Authority Utility Allowance Schedule, 2021; Veronica Tam &
<br />Associates, 2021.
<br />Assumptions:
<br />1. Income limits are the 2021 HCD limits for Alameda County.
<br />2. Affordable housing costs are 30 percent of gross household income.
<br />3. Utility costs are based on Alameda County Housing Authority Utility Allowance Schedule for 2021.
<br />4. Taxes, insurance, private mortgage insurance, and homeowners association dues are calculated at 35 percent of
<br />monthly affordable cost.
<br />5. Affordable home price assumes a 30-year fixed mortgage with a 3 percent interest rate and 10 percent down
<br />payment.
<br />6. Taxes and insurance costs apply to owners only.
<br />Extremely Low-income Households
<br />Extremely low-income households earn 30 percent or less of the County AMI. According to HCD
<br />estimates, extremely low-income households have an annual income of $28,800 or below for a one-
<br />person household and $44,400 or below for a five-person household.
<br />Extremely low-income households cannot afford market-rate rental or ownership housing in San
<br />Leandro.
<br />Very- Low-income Households
<br />Very low-income households earn between 31 and 50 percent of the County AMI – up to $47,950
<br />for a one-person household and up to $74,000 for a five-person household in 2021. A very low-
<br />income household can generally afford homes offered at prices between $151,982 and $194,891,
<br />adjusting for household size. After deductions for utilities, a very low-income household can afford
<br />to pay approximately $1,013 to $1,459 in monthly rent, depending on household size. Given the
<br />cost of housing in San Leandro, very low-income households could not afford to purchase a home or
<br />rent an adequately sized unit in the city.
<br />Low-income Households
<br />Low-income households earn between 51 and 80 percent of the County AMI – up to $76,750 for a
<br />one-person household and up to $118,400 for a five-person household in 2021. A low-income
<br />household can generally afford homes offered at prices between $275,321 and $385,037, adjusting
<br />for household size. After deductions for utilities, a low-income household can afford to pay
<br />approximately $1,733 to $2,569 in monthly rent, depending on household size. Finding
<br />appropriately sized market-rate rental housing can be challenging to households in this income
<br />group.
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