AgdaPkt 2016-12-12 Closed and Joint SA PFA

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6.3.A. - Page 66 MA -10 Number of Housing Units — 91.210(a)&(b)(2) Introduction The cost of housing is directly related to the extent of housing problems in a community. If housing costs are relatively high in comparison to household income, there will usually be correspondingly higher prevalence of housing cost burden and overcrowding. High housing costs in Redwood City, and the Bay Area at large, not only place a severe housing cost burden on households, but can also create a situation that leads to overcrowding as families double up to pay higher rents and mortgages. Redwood City is predominantly built out, and in recent years has experienced only modest growth in the housing stock. According to California Department of Finance (DOF) estimates, Redwood City had a total of 29,517 housing units as of January 2013, which is a two percent increase since 2000 when there were 28,921 housing units. Close to half the homes in Redwood City are single-family detached, and another 12 percent are single- family attached. Approximately 15 percent of the population lives in large buildings of 20 or more units, and the remainder lives in multi -unit buildings (containing either single-family attached or multi -family units) of 2-19 homes. Most (60 percent) homes in Redwood City have two or three bedrooms, and only 15 percent have more than three bedrooms. Tenure in the housing industry refers to whether the unit is owner occupied or renter occupied. Tenure preferences are primarily related to household income, composition, and age of the householder. Housing cost burden is generally more prevalent among renters than among owners. However, the extremely high costs of ownership housing in the Bay Area also create high levels of housing cost burden among owners. The tenure distribution (owner versus renter) of a community's housing stock influences several aspects of the local housing market. Residential mobility is influenced by tenure, with ownership housing evidencing a much lower turnover rate than rental housing. Approximately 47 percent of Redwood City households were renters, while 53 percent owned their homes. By comparison, the occupied housing units in San Mateo County as a whole are 59 percent owner -occupied. All residential properties by number of units Property Type Number 1 -unit detached structure 13,968 1 -unit, attached structure 3,925 2-4 units 1,967 5-19 units 4,589 20 or more units 4,174 Mobile Home, boat, RV, van, etc 647 Total 29,270 Table 27 — Residential Properties by Unit Number Consolidated Plan REDWOOD CITY OMB Control No: 2506-0117 (exp. 07/31/2015) 48% 13% 7% 16% 14% 2% 100% 63