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6.0. - Page 76 of 179 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 30,661 housing units as of January 2017, which is a 6% increase since 2000 when there were 28,921 housing units. About 48% of homes in Redwood City are single-family detached, and another 12% are single-family attached, according to the American Community Survey. Approximately 14% of the population lives in developments of 20 or more units. More than half (51%) homes in Redwood City have two or three bedrooms, and 44% 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 52% of Redwood City households are renters, while 48% own their homes. This is a significant shift over the last few years: According to the 2007-2011 American Community Survey, 47% were renters and 53% were owners about two years ago. All residential properties by number of units Property Type Number % 1 -unit detached structure 13,953 48% 1 -unit, attached structure 3,417 12% 2-4 units 2,189 8% 5-19 units 4,809 17% 20 or more units 4,062 14% Mobile Home, boat, RV, van, etc 575 2% Consolidated Plan REDWOOD CITY 70 OMB Control No: 2506-0117 (exp. 06/30/2018) 432