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Pleasanton Comprehensive Fee Update and Nexus Study November 2024 <br /> <br />33 <br /> <br />Affordability Gap Results <br />Table 19 shows the costs and values for developing rental apartments in the city for households <br />at various income levels. Across all categories, the cost of constructing the unit is higher than <br />the supportable value of the unit. This is considered the “affordability gap,” and serves as the <br />basis for calculating the subsidies required to provide housing for the lower-wage worker <br />households generated by new nonresidential development. The results of the analysis illustrate <br />that rents affordable to households earning moderate incomes and below cannot support the <br />costs of new construction without subsidy. <br />Page 94 of 893