|
<br /> Consolidated Plan CITY OF PLEASANTON 20
<br /> OMB Control No: 2506-0117 (exp. 09/30/2021)
<br />
<br />
<br />MA‐05 Overview
<br />Housing Market Analysis
<br />Housing Market Analysis Overview:
<br />
<br />Incorporated in 1894, Pleasanton is a suburb in the San Francisco Bay Area located about 25 miles east
<br />of Oakland and 6 miles west of Livermore. With a population of more than 75,000, Pleasanton is
<br />considered as one of the wealthiest mid-sized city in the nation.
<br />
<br />Pleasanton was recently (June 10, 2025 press release) ranked #2 in the nation in quality of life on the
<br />U.S. Social Progress Map, which measures outcomes that directly impact daily life, including safety,
<br />health, education, and access to opportunity. The U.S. Social Progress Map, which covers all 50 states,
<br />the 500 largest U.S. cities, and 32,000 neighborhoods, making it the country’s most comprehensive
<br />measure of quality of life, uses over 50 carefully selected indicators that reflect what matters most to
<br />people’s lives grouped into three dimensions:
<br />
<br />• Basic Human Needs – covering essentials like housing, safety, and healthcare
<br />• Foundations of Wellbeing – encompassing education, environmental quality, and access to information
<br />• Opportunity – reflecting personal rights, inclusiveness, and freedom of choice
<br />
<br />Pleasanton, California is one of the more expensive cities nationally, with housing being the primary.
<br />According to The Council for Community and Economic Research (C2ER), a nationally recognized,
<br />trusted leader in the community, economic, and workforce research field, Pleasanton ranked 13 out of
<br />273 cities across the country in terms of cost of living. The cost of living in Pleasanton is estimated to
<br />be 134.6% of the national average. The current average rent in Pleasanton is $3,600, per Zillow, which
<br />is 71% higher than the national average; 14% higher compared to Livermore’s average rent of $3,150
<br />but 1% lower than Dublin’s average rent of $3,650. The median value of homes in Pleasanton is
<br />$1,432,300 (2019-2023 American Community Survey 5-year Estimates), while popular online real
<br />estate platforms, including Zillow, Redfin, and Realtor, reflect the median sales price at more than $1.6
<br />million (approximately $724/Sqft).
<br />
<br />The City of Pleasanton 2023-2031 Housing Element reports that 24% of Pleasanton homeowners are
<br />cost-burdened (4,787 households), defined by the U.S. Department of Housing and Urban
<br />Development (HUD) as monthly housing costs exceed 30% of monthly income, while almost 44% of
<br />Pleasanton renters are cost burdened (3,804 households). 13% of Pleasanton households spend 50
<br />percent or more of their income on housing while 16.9% spend 30 to 50 percent. Among low-income
<br />(earning less than 80% of the Area Median Income), Pleasanton households, 76.4% (4,034 households)
<br />are cost burdened, while 52.8% (2,785 households) are severely cost burdened (monthly housing costs
<br />exceed 50% of monthly income).
<br />
<br />
<br />Page 184 of 694
|