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REDWOOD CITY 9212 <br /> <br />Economic & Planning Systems, Inc. 22 Redwood City Housing Impacts <br />Renter Household Demographics <br />Based on EPS’ literature review, existing renters appear to be the primary <br />beneficiaries of rent stabilization and protections against eviction. However, <br />because these policies are not means-tested (i.e., based on income), questions <br />often arise regarding whether benefits accrue to households most in need. As <br />shown in Table 8, renters in Redwood City have substantially lower incomes than <br />homeowners across all measures. Median household income for renter <br />households is approximately $127,643, compared to $203,951 for owner <br />households, and per capita income is similarly lower for renters ($49,093 versus <br />$73,101). <br />These differences suggest that, even without means testing, the proposed <br />ordinance would disproportionately benefit lower-income households on average. <br />Table 8. Redwood City Median Income by Household Tenure <br /> <br />Source: ACS, 2024 5-year estimate <br />As noted in the proposed Ordinance, the affordability crisis disproportionately <br />affects people of color, who are overrepresented in the renter population. As <br />shown in Table 9, Black, Hispanic or Latino, and American Indian and Alaska <br />Native residents make up a larger share of renter households in Redwood City <br />than their share of the citywide population. For example, Hispanic or Latino <br />residents comprise 36.2% of the overall population but 46.9% of renter <br />households, while Black residents represent 2.0% of the citywide population and <br />2.5% of renters. <br />This pattern is not unique to Redwood City and reflects broader national <br />disparities driven by a history of racially restrictive housing covenants, redlining, <br />and discriminatory lending practices. As a result of these longstanding inequities <br />in homeownership, policies that protect renters, such as rent stabilization and just <br />cause eviction protections, are more likely to benefit Black, Indigenous, and <br />People of Color (BIPOC) residents in Redwood City. <br />Household Tenure <br />Median <br />Household <br />Average <br />Household Size <br />Income per <br />Capita <br />Total $157,814 2.69 $58,667 <br />Owner-Occupied $203,951 2.79 $73,101 <br />Renter-Occupied $127,643 2.6 $49,093 <br />8.A. - Page 150 of 168 <br />160