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Table 9 gives an indication of vacancy in local housing. The <br />vacancy rate is a percentage defined as the number of units <br />unoccupied at any given time divided by the total number of <br />housing units in ~he City. For Pleasanton, the total vacancy <br />rate in 1980 was 2.9%. It has decreased over the last four <br />years. Specifically, the vacancy rate for rental units (3.5%) <br />was higher than the vacancy rate for for-sale housing (1.1%). <br /> <br />In the past, rental housing was usually more difficult to find <br />than ownership housing. Why has there been a reversal of this <br />trend? One major explanation is that over the last few years <br />numerous condominiums and townhouses have been built. Owners, <br />unable to sell them as ownership housing with today's high in- <br />terest rates, have had to rent them. In fact a significant <br />number of condomininms (40%) are rented. So in today's market <br />condominiums and townhouses are being added to the City's rental <br />stock and have increased the vacancy rate in this sector. <br /> <br />TABLE 9 <br /> <br />VACANCY RATES, PLEASANTON: 1975, 1979, 1980 <br /> <br />Single-family <br />Multi-family <br /> <br />1975 1979 <br />3.70 4.76 <br />4.90 .39 <br /> <br />Total Vacancy Rate 3.70 3.81 <br /> <br /> 19801 <br />Owner occupied 1.1 <br />Renter occupied 3.5 <br /> <br />2~9 <br /> <br />Sources: <br /> 1975 Special Census <br /> Apartment Survey - Shapell Homes, 1979 <br /> California Department of Finance <br /> <br />11980 <br /> C~nsus does not break down vacancy rate by single-family <br /> or multi-.family units. <br /> <br /> <br />