Oakland stands at the center of a perfect storm. The city and surrounding Bay Area region are experiencing extraordinary economic growth, but housing production is not keeping pace with the escalated demands, nor is sufficient housing affordable to many existing residents and the expanding lower-income workforce.  The current displacement crisis undermines the health and wellbeing of its residents, and threatens the historic diversity that gives Oakland its strength and vitality. 

 

• Nearly half of rental households in Oakland are cost burdened.
• 63% of African American households are housing cost burdened.
• Oakland lost 34,000 African American residents – representing a 24% decline, between 2000-2010.
• In the last year, the median market rent for an available two-bedroom apartment in Oakland has increased by 25%.

Vital community members have been priced out of Oakland. The housing crisis is impacting workers vital to a functioning economy, with little to no options for low and even moderate wage-earners seeking housing on the open market.

• Number of Oakland units affordable for workers earning the City of Oakland’s minimum of $12.55/hour: Zero (Estimated salary of $26,104, $20,282 after taxes = $508/month towards housing).
• Percentage of income average an Oakland minimum wage worker would have to devote for a 1BR apartment: 112% ($1900 average market rent (Trulia) out of total $1,690 estimated post-tax monthly income).
• Number of Oakland units affordable for workers with entrance-level teacher salary: Zero (Estimated salary of $42,497 per Oakland Education Association, $31,634 after taxes = $790/month towards housing).
• Percentage of income average a worker with an entrance-level teacher salary would have to devote for a 1BR apartment: 72% ($1900 average market rent (Trulia) out of total $2,636 estimated post-tax monthly income).
• Number of Oakland units affordable for workers earning an entrance-level fire fighter salary: Three (Estimated salary of $81,419 per City of Oakland pay schedule for fire fighter, or $53,755 after taxes = $1344/month towards housing).
• Percentage of income average entry-level fire fighter would have to devote for a 1BR apartment: 42% ($1900 average market rent (Trulia) out of total $4479 estimated post-tax monthly income).

 

To learn more, check out the PolicyLink brief: Oakland's Displacement Crisis: As Told by the Numbers, which highlights some of the challenges Oakland tenants are facing in the ongoing housing crisis, and some key policy steps that could provide much needed relief.