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Pleasanton Ability to Pay for Housing Above 80% AMI
<br />Number of Persons in Household 1
<br />2 3 4
<br />180% of Area Median Income
<br />Annual Income Limit
<br />$158,220 $180,900
<br />$203,490 $226,080
<br />Monthly Income
<br />$13,185 $15,075
<br />$16,958 $18,840
<br />Max Monthly Gross Rent'
<br />$3,956 $4,523
<br />$5,087 $5,652
<br />Max. Purchase Price 5% downz
<br />$682,600
<br />$890,600 $994,500
<br />Max Purchase Price 20%down3
<br />$917,400
<br />$1,197,000 $1,336,900
<br />200% of Area Median Income
<br />Annual Income Limit
<br />$175,800
<br />$201,000
<br />$226,100 $251,200
<br />Monthly Income
<br />$14,650
<br />$16,750
<br />$18,842 $20,933
<br />Max. Monthly Gross Rent'
<br />$4,395
<br />$5,025
<br />$5,653 $6,280
<br />Max. Purchase Price 5% downz
<br />$994,700 $1,110,100
<br />Max. Purchase Price 20% down'
<br />$1,336,910 $1,492,000
<br />Notes:
<br />' 30% of income devoted to maximum monthly rent or mortgage payment, including utilities, taxes, and
<br />insurance
<br />zAssumes 95% loan (i.e., 5% down payment) @ 2.875% annual interest rate and 30 -year term
<br />3 Assumes 80% loan (i e , 20% down payment) @ 2 875% annual interest rate and 30 -year term
<br />4 Red text indicates that the maximum monthly rent or mortgage payment is lower than the median
<br />monthly rent ($2,290) or typical home value in Pleasanton ($1,584,380), meaning that those units are
<br />not affordable to the applicable household. Values shown in black represent units that are technically
<br />affordable to the applicable household based on income and household size
<br />Source: HCD, Zillow Mortgage Calculator
<br />Of the estimated 29,000 households in Pleasanton, there are there are approximately 1,799
<br />Pleasanton households that earn 81-100% AMI (6.2% of total households), and a considerably
<br />greater number of households earning between 100% and 180% AM1.5
<br />To provide some context, some examples of occupations for a four -person household earning
<br />81 % to 180% AMI with two working adults includes:
<br />Retail supervisor ($50,430/year)
<br />• Automotive mechanics ($61,560/year)
<br />• Transit bus driver ($61,810/year)
<br />Licensed vocational nurse ($74,520/year)
<br />• Paralegals and legal assistants ($75,820/year)
<br />• Teachers (elementary, middle, and high school) ($86,200-$92,940/year)
<br />• Accountants ($101,090/year)
<br />• Physical therapists ($103,350/year)
<br />5 While 20,688 Pleasanton households earn over 100% AMI, there is no readily available data that provides a
<br />more refined breakdown of household incomes over 100% AMI and up to 180% AMI.
<br />6 Source: BLS OEWS, San Francisco -Oakland -Hayward MSA, May 2020; City of Pleasanton
<br />Housing Element Update, P21-0751 Planning Commission
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