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PERCENT OF <br />MONTHLY <br />INCOME PAID <br />FOR <br />HOUSING <br /> <br />TABLE ~2 <br /> <br />HOUSEHOLDS "OVERPAYING" FOR HOUSING, <br />PLEASANTON: 1979 <br />(Percent of Households) <br /> <br /> TOTAL HOUSE- <br /> HOLDS RENTERS }tO~ OWNERS <br /> Very Very Very <br /> Low Low Low Low Low Low <br /> Income Income Income Income Income Income <br /> <br />26% or <br />more 53 55 63 53 33 57 <br />35% or <br />more 30 23 28 17 33 29 <br /> <br />Definitions: <br /> <br />a) Very Low <br /> <br />b) <br /> <br /> Income: Less than or equal to 50% of Bay Area's <br />median household income. The Bay Area's median household <br />income in 1979 was $20,700 as estimated by HUD. In order <br />to match the income categories of the Pleasanton 1979 Housing <br />Survey to this definition, very low income consists of house- <br />holds making less than or equal to $10,000 per year. The <br />actual fiaure should be $10,350. <br />Low Income: 51% to 80% of the Bay Areas's median income. <br />In order to match the income categories of the Pleasanton <br />1979 Housing Survey to this definition, low and moderate <br />household income is between $10,000 and $15,000 per <br />year. The actual range should be between $10,350 and <br />$16,560. <br /> <br />Source: 1979 Pleasanton Housing Survey <br /> <br />Referring to Table 12, housing cost as a percent of gross monthly <br />income is seen as an important factor when discussing affordable <br />housing. According to the Department of Housing and Urban Develop- <br />ment (HUD) and the California Health and Safety Code (section <br />50052.5) renter households paying more than 25% of their monthly <br />gross incomes toward housing (including utilities, except-telephones) <br />are considered eligible for rent subsidies if their incomes are below <br />a certain level. Such households are considered to be "overpaying" <br />for housing. <br /> <br />-69- <br /> <br /> <br />