transmittal of...from: liefbursell, associate management analyst subject: market medians: january...

Rent Stabilization Board

DATE: January 19, 2016

TO: Mayor Bates and Honorable Members of the City Council

FROM: Honorable Members of the Rent Stabilization Board

SUBJECT: Transmittal of Market Median Rent Reports for Q2 and Q3 2015

At their December 14, 2015 meeting the Rent Stabilization approved a motion to forward a copy

of the 2nd and 3rd Quarter Market Median Rent reports to the City Council for their review. The

Rent Board receives quarterly updates with information on the number and rental rates in

tenancies subject to rent stabilization. These reports show that market rents continue to increase

at a rapid rate.

Median rents for new tenancies during the 3rd quarter of the calendar year have increased by

around 15% since 2014 and by around 50% since 2010. The table below compares market rents

for new tenancies in the 3rd quarter of 2010 with those from the 3rd quarter of 2015:

2010 and 2015 3nd Quarter Market Rent Comparison

Unit Size Q3 2010

Median Rent

Q3 2015

Median Rent % increase

Studio $950 $1,495 57.4%

1 BR $1,195 $1,860 55.6%

2 BR $1,600 $2,600 62.5%

3 BR $2,395 $3,498 46.1%

Rent Board data does not include rental data for new construction units built after 1980 because

they are not subject to rent control. Please note that the numbers in these reports provide only a

conservative estimate of the current market rents in Berkeley because they include just the

median or average rent for Berkeley’s older housing stock. The market rate for new construction

units and well maintained older rental units located in Berkeley’s more desirable neighborhoods

are significantly higher than the reported median rent. For example a two bedroom unit on the

2400 block of Hilgard Avenue had a maximum 2012 rent of $2,041 that has increased to $6,995

a month for the current 2015 tenancy. Similarly a two bedroom unit on the 1400 block of

Addison Street, near the University Avenue and Sacramento Street intersection, had a maximum

rent of $1,022 in 2013 that has increased to $4,395 a month in 2015.

Attachments:

1. December 14, 2015 Report to Rent Stabilization Board: Market Medians Report Updated

with data for the 2nd & 3rd Quarter of 2015

Item 9.a.(2)


DATE: December 14, 2015

TO: Honorable Members of the Rent Stabilization Board

FROM: 4-:l. Jay Kelekian, Executive Director By: l.5Lief Bursell, Associate Management Analyst

SUBJECT: Market Medians Report Updated with data for the 2nd & 3rd Quarter of 2015

The attached Market Medians Reports for the 2nd and 3rd quarters of 2015 update the numbers

from the 1st quarter of 20 15 report submitted to the Board on November 16, 2015. Data from the 2nd and 3rd quarter shows that rental rates for new tenancies have continued their upsurge.

The first three tables below explore how rents have changed in the past year by comparing rents for new tenancies (subject to rent stabilization) during the first three quarters of2015 with the

rents for new tenancies during the first three quarters of2014. Table #1 compares median rents for new tenancies during the 1st quarter of 2014 with median rents for new tenancies during the pt quarter of2015.

Table # 1: 2014 and 2015 1st Quarter Rent Comparison

Unit Size Q1 2014 Q1 2015

%increase Median Rent Median Rent

Studio $1,050 $1,295 23.3% 1 BR $1,400 $1,695 21.1% 2BR $1,900 $2,150 13.5%

The above table omits units with three bedrooms because only 18 such units were rented during

the reporting period.

Table #2 compares median rents for new tenancies during the 2nd quarter of 2015 with median rents for new tenancies reported during the 2nd quarter of 2014.

Table #2: 2014 and 2015 2nd Quarter Rent Comparison



Studio $1,249 $1,495 19.7% 1 BR $1,595 $1,795 12.5% 2BR $2,395 $2,695 12.5% 3BR $3,250 $3,500 7.7%

Q2 & Q3 2015 Market Medians Report December 14, 2015 Page2

Table #3 compares median rents for new tenancies during the 3rd quarter of2015 with median rents for new tenancies reported during the 3rd quarter of 2014. Due to the seasonality of rental

rates in Berkeley, rents are generally at their highest during the 3rd quarter when the majority of

students are looking for housing.




Studio $1,275 $1,495 17.3% 1 BR $1,620 $1,860 14.8% 2BR $2,248 $2,600 15.7% 3BR $3,000 $3,498 16.6%

Finally, Table #4 provides a longer term view of the extent of the recent increases to market rent in Berkeley by comparing median rents for new tenancies during the 3rd quarter of2015 with median rents for new tenancies reported during the 3rd quarter of2010.


Unit Size . Q3 2010 Q3 2015

% inGrease Median Rent Median Rent

StUdio $950. $1,495 57.4% 1 BR $1,195 $1,860 55.6% 2BR $1,600 $2,600 62.5% 3BR $2,395 $3,498 46.1%

While reviewing the Q1 2015 Market Medians the Board expressed interest in a breakdown of the rents in the different market areas (North Berkeley, South Berkeley etc.) by number of

bedrooms. Staffwill provide this data with the Q4 Median Rents Report early in 2016, when all

tenancy information for 2015 is available.

Attachment: 1. Market Medians: January 1999 through September 2015

2. Market Medians: January 1999 through June 2015


MEMORANDUM

DATE: December 14, 2015

TO: Jay Kelekian, Executive Director

FROM: LiefBursell, Associate Management Analyst

SUBJECT: Market Medians: January 1999 through September 2Q15

The tables below update and supplement medians provided for the second quarter of 2015. Medians reported in the first section (Medians by Calendar Quarter) are derived from only those units which have had anew tenancy recorded in RTS during the reported period. I have supplemented this memorandum with data from the third quarter of 2015.

I have updated the "Citywide" medians (includes all "rented" units regardless of tenancy date by number of bedrooms) and "All Units" medians (reflective of neither the unit size or tenancy date) to include medians as of September 30,2015. For comparison purposes, December 31, 1998 medians are included below. Changes to previously reported figures are denoted by an asterisk(*).

Medians for 12/31/1998

#BR Rent #Units Studio $527 3,725 1 BR $624 8,075 Z"BR $777 5,651 3BR $1,083 915

Medians by Calendar Quarter (new tenancies only)

\ 1999 new tenancies) 1"1 Q 1999 2"d Q 1999 J<d Q 1999 41h Q 1999 12/31/1999 (Year)

#BR Rent Studio $689 1BR $880 2BR I $1,150 3BR $1,500

·#Units Rent #Units Rent #Units Rent #Units Rent 297 $715 360 $745 489 $725 167 $715 487 $970 601 $950 683 $950 326 $950 303 $1,350 456 $1,350 401 $1450 161 $1,300

41 $1,800 69 $1,700 57 $1745 21 $1,650

2125 Milvia Street, Berkeley, California 94704 TEL: (510) 981-7368 (98l-RENT) • TDD: (510) 981-6903 • FAX: (510) 981-4940 E-MAIL: [email protected] •DINTERNET: www.cityofberkeley.info/rent/

#Units 1,145 1,927 1,245

172

Jay Kelekian, Executive Director December 14,2015 Market Medians: January 1999 through September 2015- Page 2

2000 (new tenancies) 1"t Q 2000 2"d Q 2000 3rd Q 2000

#BR Rent #Units Rent #Units Rent #Units Studio $750 262 $800 344 $850 466 1BR $975 415 $1,100 644 $1,150 681 2BR $1,300 233 $1,500 454 $1,500 408 3BR $1,650 28 $2,000 76 $2,000 56

2001· new tenancies) l"t Q 2001 2"d Q 2001 yd Q2001

#BR Rent #Units Rent #Units Rent #Units Studio $875 159 $900 302 $900 479 1BR $1,195 322 $1,200 557 $1,200 607 2BR $1,550 144 $1,775 395 $1,685 357 3BR $2,000 21 $2,400 71 $2,100 36

,. 2002 new tenancies)

1"t Q 2002 2"d Q 2002 3rd Q 2002 #BR Rent #Units Rent #Units Rent #Units

Studio $875 230 $875 409 $875 544 1BR $1,100 341 $1,195 722 $1,195 661 2BR $1,500 193 $1,765 526 $1,600 416 3BR $1,900 22 $2,250 87 $2,200 51

2003 new tenancies) ' l"tQ 2003 2"d Q 2003 Jfd Q2003 '

#BR Rent #Units Rent #Units Rent #Units Studio $820 231 $850 365 $875 478 1BR $1,100 321 $1,150 645 $1,100 747 2BR $1,400 200 $1,645 506 $1,495 463 3BR $1,850 25 $2,000 84 $2,100' 52

2004 new tenancies) 1"t Q 2004 2"d Q 2004 3rd Q 2004

.#BR Rent #Units Rent #Units Rent #Units Studio $800 205 $825 357 $825 528 1BR $1,000 313 $1,100 596 $1,050 804 2BR $1,300 194 $1,500 521 $1,449 485 3BR $1,650 19 $2,150 77 $2,000 68

2005 new tenancies) 1"t Q 2005 2"d Q 2005 yd Q2005

#BR Rent #Units Rent ,#Units Rent #Units Studio $825 225 $850 322 $850 545 1BR $1,050 282 $1,100 594 $1,100 800 2BR $1,300 188 $1,545 527 $1,476 560 3BR $1,'650 15 $2,030 71 $2,000 59

4th Q 2000 Rent #Units

$850 130 $1,195 292 $1,500 146 $1,900 21


$880 157 $1,200 289 $1,500 165 $1,500 12

4th Q 2002 Rent #Units $800 170

$1,100 313 $1,450 170 $1,800 27

4th Q 2003 Rent #Units $850 130

$1,050 262 $1,350 176 $1,800 17

4th Q 2004 Rent #Units $800 140

$1,000 272 $1,295 149 $1,550 17

4th Q 2005 Rent #Units $830 117

$1,050 226 $1,350 110 $1,900 7

2125 Milvia Street. Berkeley, California 94704

12/31/2000 (Year) Rent #Units

$800 1,073 $1,100 1,861 $1,500 1,173 $1,980 171

12/3112001 (Year) Rent #Units

$900 1,002 $1,200 1,647 $1,650 1,007 $2,100 133


$850 1,251 $1,150 1,932 $1,600 1,253 $2,150 182

12/31/2003 (Year}_ Rent #Units

$850 1,142 $1,100 1,892 $1,500 1,326 $1,999 185

'


$800 1,129 $1,050 1,896 $1,400 1,294 $2,020 174


$850 . 1,132 $1,095 1,832 $1,450 1,383 $2,000 160

TEL: (510) 981-7368 (981-RENT) • TDD: (510) 981-6903 • FAX: (510) 981-4940 E-MAIL: [email protected]. •DINTERNET: www.cityotberkeley.info/rent/

Jay Kelekian, Executive Director December i4, 2015 Market Medians: January 1999 through September 2015 - Page 3

2006 (new tenancies) 1"1 Q 2006 2"d Q 2006 3rd Q 2006


2007 new tenancies) 1"t Q 2007 2"d Q 2007 J<d Q2007


/ 2008 new tenancies) 1"t Q 2008 ind Q 2008 3rd Q 2008


2009 new tenancies) 1"t Q 2009 2"d Q 2009 yd Q 2009

#BR Rent #Units Rent #Units. Rent #Units Studio $925 164 $985 352 $975 447 1BR $1,150 277 $1,350 633 $1,250 757 2BR $1,585 138 $1,900 638 $1,675 462 3BR $2,450 21 $2,500 112 $2,395 86

•. · 2010 newtenancies) l"t Q 2010 2"d Q 2010 J<d Q 2010

#BR Rent #Units Rent #Units Rent #Units Studio $925 173 $985 337 $950 518 1BR $1,195 244 $1,295 648 $1,195 787 2BR · $1,500 142 $1,900 580 $1,600 523 3BR $1,850 16 $2,500 113 $2,395 98

2011 new tenancies) l"t Q 2011 2"d Q 2011 3rd Q 2011

#BR Rent #Units Rent . #Units Rent #Units Studio $895 122 $975 403 $995 454 1BR $1,175 235 $1,285 662 $1,250 722 2BR $1,495 139 $1,900 621 $1,650 544 3BR $2,050 21 $2,570 106 $2,400 96

4th Q 2006 Rent #Units $850 90

$1,100 176 $1,445 108 $2,000 9

41h Q 2007 Rent #Units $885 130

$1,175 196 $1,490 122 $2,250 19

4th Q 2008 Rent #Units $950 128

$1,200 201 $1,650 102 $2,400 15

4th Q 2009 Rent #Units $845 124

$1,175 222 $1,450 143 $2,100 24


$1,200 189 $1,500 115 $2,000 16


$1,250 220 $1,595 116 $2,400 12

2125 Milvia Street, Berkeley, California 94704


$875 1,159 $1,100 1,944 $1,550 1,430 $2,100 191


$900 1,099 $1,200 1,930 $1,600 1,421 $2,250 210

12/31/08 (Yearl Rent #Units

$980 1,116 $1,275 1,980 $1,775 1,412 $2,450 230


$950 1,081 $1,250 1,887 $1,700 1,406 $2,400 254

.·

12/31/2010(Year) Rent #Units

$950 1,038 $1,225. 1,828 $1,660 1,365 $2,395 241


$970 1,105 $1,250 1,899 $1,700 1,472 $2,400 248

TEL: (510) 981-7368 (981-RENT) • TDD: (510) 981-6903 • FAX: (510) 981-4940 E-MAIL: [email protected] •DINTERNET: www.cityotberkeley.info/rent/

.Jay Kelekian, Executive Director December 14,2015 Market Medians: .January 1999 through September 2015- Page 4

2012 new tenancies) 1st Q 2012 2"d Q 2012 J<d Q 2012

#BR Rent #Units Rent #Units Rent #Units Studio $900 152 $1,025 427 $1,050 408 1BR $1,200 226 $1,395 578 $1,345 701 2BR $1,600 123 $2,095 641 $1,750 501 3BR $2,300 16 $2,700 113 $2,595 93

2013 new tenancies) ptQ2013 2"d Q 2013 J<d Q 2013

#BR Rent #Units ·Rent #Units Rent #Units Studio $1,000 132 $1,100 419 $1,150 384 1BR $1,300 226 $1,495 664 $1,450 611 2BR $1,750 100 $2,195 611 $1,995 480 3BR $2,500 15 $2,900 147 $2,895 77

2014 new tenancies) ptQ2014 2"d Q 2014 J<d Q 2014

#BR Rent #Units Rent #Units Rent #Units Studio $1,050 147 $1,249 465 $1,275 446 1BR $1,400 232 $1,595 721 $1,620 634 2BR $1,900 113 $2,395 623 $2,248 457 3BR $2,850 16 $3,250 112 $3,000 79

2015 new temmcies) ptQ2015 2"d Q 2015 J<d Q 2015

#BR Rent #Units Rent #Units Rent #Units Studio $1,295 160 $1,495 350 $1,495 358 '1BR $1,695 235 $1,795 612 $1,860 520 2BR $2,150 125 $2,695 582 $2,600 383 3BR $2,588 18 $3,500 112 $3,498 62


$1,095 87 $1,300 162 $1,700 99 $2,600 12


$1,100 96 $1,500 207 $1,950 105 $2,700 16


$1,263 124 $1,650 177 $2,000 86 $2896 13

. 4thQ 2015

Rent #Units •'},')';;:,., :'i ·~:} ~. d: ~:·:".%: .. }/ ;;,:<f, ·.:;: :-.·.~·; '{·'• ... ,·:~.·_·; -::?Y< ; :·.!; l:::'.>ci


12/3112012{¥ ear) Rent #Units $1,050 1050 $1,325 1689 $1,850 1431 $2,595 247


$1,100 1139 $1,460 1906 $2,046 1522 $2,895 280


$1,250 1098 $1,595 1720 $2,250 1279 $3,000 235


$1,450 835 $1,800 1325 $2,600 1071 $3,495 -191

TEL: (510) 981-7368 (981-RENT) • TDD: (510) 981-6903 • FAX: (510) 981-4940 E-MAIL: [email protected] •DINTERNET: www.citvotberkeley.info/rent/

Jay Kelekian, Executive Director December 14, 2015 Market Medians: January 1999 through September 2015 -Page 5

Annual Citywide Medians By Number of Bedrooms (All Units)

As of 12/31/98 12/31/99 12/31/2000 12/31/2001 ' 12/31/2002 12/31/2003 #BR Rent Units Rent Units Rent Units Rent Units Rent Units Rent Units

Studio $527 3,725 $560 3,840 $596 3,895 $650 3,871 $719 3,854 $731 3,910 1BR $624 8,075 $662 8,145 $714 8,185 $773 8,184 $858 8,097 $900 7,983 2BR $777 5,651 $835 5,659 $900 5,693 $975 5,643 $1,100 5,562 $1,200 5,500 3BR $1,083 915 $1,140 831 $1,245 816 $1,350 807 $1,538 784 $1,662 765

As of 12/31/2004 12/31/2005 12/31/2006 12/31/2007 12/31/08 12/31/2009 #BR Rent. Units Rent Units Rent Units Rent Units Rent Units Rent Units

Studio $750 3,905 $775 3,928 $795 3,919 $825 3,834 $865 3,762 $895 3,740 1BR $939 7,941 $950 7,899 $982 7,906 $1,026 7,911 $1,075 7,951 $1,100 7,945 2BR $1,250 5,442 $1,280 5,430 $1,321 5,451 $1,395 5,571 $1,450 5,667 $1,500 5,721 3BR $1,750 753 $1~799 "733 $1,820 733 $1,930 780 $2,044 853 $2,100 887

As of 12/31/2010 12/31/2011 12/31/2012 12/31/2013 12/31/2014 09/30/2015 #BR Rent Units Rent Units Rent Units Rent Units Rent Units Rent Units

Studio $895 3,703 $900 3,813 $935 3,729 $975 3,668 $1,012 3,858 $1,052 3,963 1BR $1,101 2BR $1,500 3BR $2,150

7,895 $1,129 7,906 $1,177 7,855 $1,225 7,893 $1,293 7,928 5,734 $1,525 5,804 $1,587 5,900 $1,650 5,975 $1,746 6,004

890 $2,150 934 $2,241 987 $2,350 1,026 $2,450 1,027

2125 Milvia Street, Berkeley, California 94704 TEL: (510) 981-7368 (981-RENT) • TDD: (510) 981-6903 • FAX: (510) 981-4940 E-MAIL: [email protected] •DINTERNET: www.cityotberkeley.info/rent/

$1,343 7,941 $1,836 6,022 $2,593 1,030

Jay Kelekian, Executive Director December 14, 2015 Market Medians: January 1999 through September 2015- Page 6

12/31/1998 Med I Av2 1· #Units $6431 $7201 19,253

12/31/2003 Med I Av2 I #Units $9001 $1,0281 18,617

12/31/2008 Med I Avg I #Units

$1,1001 $1,2131 18,798

· Annual Citywide Medians and Averages (All Units-includes units with 4+ bedrooms)

12/31/1999 12/31/2000 12/31/2001 Med I Av2 I #Units Med I Avg 1 #Units Med I Avg l #Units

$6901 $7871 18,788 $7501 $8651 19,178 $8101 $9431 18,767

12/31/2004 12/31/2005 12/31/2006 Med I Av2 I #Units Med I Avg J #Units Med I Avg I #Units

$9321$1,0461 18,652 $9501 $1,0621 18,418 $9941 $1,0921 18,534

12/31/2009 12/3112010 12/31/2011 Med I Avg I #Units Med I Avg I #Units Med I Avg I #Units $1,1501$1,2601 18,893 $1,1591 $1,2741 18,797 $1,1951 $1,2971 19,027

12/31/2013 12/31/2014 09/30/2015 Med I Avg I #Units Med · I Av2 I #Units Med I Av2 I #Units

$1,3001 $1,419 1 19,093 $1,375 I $1,498 I 19,087 $1,450 I $1,583 I 19,283

2125 Milvia Street, Berkeley, California 94704 TEL: (510) 981-7368 (981-RENT) • TDD: (510) 981-6903 • FAX: (510) 981-4940 E-MAIL: [email protected] •DINTERNET: www.citvotberkeley.info/rent!

12/31/2002 Med I Avg I #Units

$8821 $1,0081 18,784

12/31/2007 Med I Avg I #Units $1,0421 $1,1471 18,545

12/31/2012 Med I Avg I #Units $1,2361 $1,3451 19,030


City of Berkeley Number of Reported Qualifying Vacancy Registrations By Submarket Area through 9/30/2015 (As of 12/1/2015) (Excludes exempt units)

Housing Tracts by Area: Area1;tractnos.ll, 12, 13, 14, 15, 16,17,38 Area 2, tract nos. 18, 19, 22, 23, 30, 31 Area 3, tract nos. 24, 25, 27, 28, 29, 36, 37 Area 4, tract no~. 20, 21, 32 Area 5, tract nos. 33, 34, 35, 39, 40

City of Berkeley and Surrounding ClUes Census Tract Map and Market Areas

l!lill!li!!!IICIIyBoundafY

-Census Tract Boundary

- MaOO!IIArea Boundary

Total Number of Registered ("Rented") Units by Submarket Area

North Berkeley (Area 1) Central B'erkeley (Area 2) University Area (Area 3) West Berkeley (Area 4) South Berkeley (Area 5)

Total

No. Units 1,476 3,476

10,064 811

3,371

19,283

Submarket Area

Tenancies Starting Before 1999 2,420 units (12.55% of all units)

Avg. Rent Ceiling All units= $817.85 1 BR = $750.45 (1,116 units)

1 2 3 4 5

Tenancies Starting 1/1199- 09/30/2015 16,863 units (87.45% of all units) 1

. 2

· Avg. Rent Ceiling All Units= $1,660.78 1 BR = $1,469.44 (6,824 units)

3 4 5

% oftotalunits 7.65%

18.03% 52.19% 4.21%

17.48%

09/30/2015 Avg. Rent Ceiling . $1,756.82

$1,436.28 $1,674.13 $1,299.91 $1,439.26

$1,583.19

. No. Units % ofSubmarket 09/30/2015 Avg. LRC

228 581

1,054 131 425

. 1,248 2,895 9,010

680 2,946

15.45% 16.71% 10.47% 16.15% 12.61%

84.55% 83.29% 89.53% 83.85% 87.39%

$908.22 $791.61 $832.64 $739.35 $793.09

$1,911.85 $1,565.66 $1,772.56 $1,407.90 $1,532.48

2125 Milvia Street, Berkeley, California 94704 TEL: (510) 981-7368 (981-RENT) • TDD: (510) 981-6903 • FAX: (510) 981-4940 E-MAIL: [email protected] •DINTERNET: www.cityotberkeley.info/rent/


MEMORANDUM

DATE: December 14,2015

TO: Jay Kelekian, Executive Director

FROM: Lief Bursell, Associate Management Analyst ·

SUBJECT: Market Medians: January 1999 through June 2015

The tables below update and supplement medians provided for the first quarter of 2015 in the memorandum dated November 16,2015. Medians reported in the first section (Medians by Calendar Quarter) are derived from only those units which have l:;lad a new tenancy recorded in RTS during the reported period. I have supplemented this memorandum with data from the second quarter of2015.

I have updated the "Citywide" medians (includes all "rented" units regardless of tenancy date by number of bedrooms) and "All Units" medians (reflective of neither the unit size or tenancy date) to include medians as of March 31, 2015. For comparison purposes, December 31, 1998 medians are included below. Changes to previously reported figures are denoted by an asterisk (*).

Medians for 12/31/1998

#BR Rent #Units Studio $527 3,725 1 BR $624 8,075 2BR $777 5,651 3BR $1,083 915

Medians by Calendar Quarter (new tenancies only)

1999. new tenancies) P 1 Q 1999 2nd Q 1999 3rd Q 1999 41h Q 1999 12/3111999 (Year)

#BR Rent Studio $689 1BR $880 2BR $1,150 3BR $1,500

#Units Rent #Units Rent #Units Rent #Units Rent 297 $715 360 $745 489 $725 167 $715 487 $970 601 $950 683 $950 326 $950 . 303 $1,350 456 $1,350 401 $1450 161 $1,300

41 $1,800 69 $1,700 57 $1745 21 $1,650

2125 Milvia Street, Berkeley, California 94704 TEL: (510) 981-7368 (981-RENT) • TDD: (510) 981-6903 • FAX: (510) 981-4940 E-MAIL: [email protected] •DINTERNET:. www.cityofberkeley.info/rent/

#Units 1,145 1,927 1,245

172

Jay Kelekian, Executive Director December 14,2015 Market Medians: January 1999 through June 2015 - Page 2

2000 (new tenancies) ptQ2000 2"d Q 2000 J<d Q 2000

#BR Rent #Units Rent #Units Rent #Units studio $750 262 $800 344 $850 466 1BR $975 415 $1,100 644 $1,150 681 2BR $1,300 233 $1,500 454 $1,500 408 3BR $1,650 28 $2,000 76 $2,000 56

2001 new tenancies) ptQ2001 2"d Q 2001 3rd Q,2001


2002 new tenancies) 1st Q 2002 2"d Q2002 3rd Q 2002


2003 new tenancies) · 1st Q 2003 2"d Q2003 3rd Q 2003


2004 new tenancies) 1st Q 2004 2"d Q2004 3rd Q 2004


2005 new tenancies) ptQ2005 2"d.Q 2005 3rd Q 2005



$850 130 $1,195 292 $1,500 146 $1,900 21


$880 157 $1,200 289 $1,500 165 $1,500 12

I

4th Q 2002 Rent #Units $800 17P

$1,100 313 $1,450 170 $1,800 27

4th Q 2003 Rent #Units $850 130

$1,050 262 $1,350 176 $1,800 17

4th Q 2004 Rent #Units $800 140

$1,000 272 $1,295 149 $1,550 17

4th Q 2005 Rent #Units $830 117

$1,050 226 $1,350 110 $1,900 7



$800 1,073 $1,100 1,861 $1,500 1,173 $1,980 171

12/3l/200l(Year}_ Rent #Units

$900 1,002 $1,200 1,647 $1,650 1,007 $2,100 133

'12/31/2002 (Year) Rent #Units

$850 1,251 $1,150 1,932 $1,600 1,253 $2,150 182


$850 1,142 $1,100 1,892 $1,500 1,326 $1,999 185


$800 1,129 $1,050 1;896 $1,400 1,294 $2,020 174


$850 1,132 .$1,095 1,832 $1,450 1,383 $2,000 160


Jay Kelekian, Executive Director December 14, 2015 Market Medians: January 1999 through June 2015 -Page 3

2006 (new tenancies) · }St Q 2006 2"d Q 2006 3rd Q 2006

#BR Rent #Units Rent #Units Rent #Units Studio $825 186 $890 332 $875 554 lBR $1,060 298 $1,150 664 $1,150 784 2BR $1,400 188 $1,650 550 $1,500 537 3BR $1,700 19 $2,240 77 $2,000 80

2007 ~"new tenancies) 1st Q 2007 2"d Q 2007 3rd Q 2007


2008 new tenancies) ·tst Q 2008 2"d Q 2008 3rdQ 2008


·. 2009 new tenancies) ptQ2009 2"d Q2009 3rd Q 2009


. 2010 new tenancies) ptQ2010 2"d Q 2010 3rd Q 2010

#BR Rent #Units Rent #Units Rent #Units Studio $925 173 $985 337 . $950 518 1BR $1,195 244 $1,295 648 $1,195 787 2BR $1,500 142 $1,900 580 $1,600 523 3BR $1,850 16 $2,500 113 $2,395 98

2011 new tenancies) , ptQ2011 2"d Q 2011 3rd Q 2011



$1,100 176 $1,445 108 $2,000 9

4th Q 2007 Rent #Units $885 130

$1,175 196 $1,490 122 $2,250 19

4th Q 2008 Rent #Units $950 128

$1,200 201 $1,650 102 $2,400 15

4th Q 2009 Rent #Units $845 124

$1,175 222 $1,450 143 $2,100 24

··.


$1,200 189 $1,500 115 $2,000 16


$1,250 220 $1,595 116 $2,400 12


12/31/2006 (Year)~ Rent #Units

$875 1,159 $1,100 1,944 $1,550 1,430 $2,100 191


$900 1,099 $1,200 1,930 $1,600 1,421 $2,250 210


$980 1,116 $1,275 1,980 $1,775 1,412 $2,450 230

" 12/31/09 (Year) Rent #Units

$950 1,081 $1,250 1,887 $1,700 1,406 $2,400 254

12/31/2010(Y ear) Rent #Units

$950 1,038 $1,225 1,828 $1,660 1,365 $2,395 241


$970 1,105 $1,250 1,899 $1,700 1,472 $2,400 248

TEL: (510) 981-7368 (981-RENT) • TDD: (510) 981-6903 • FAX: (510) 981-4940 E-MAIL: [email protected] •diNTERNET: www.citvofberkeley.info/rentl

Jay Kelekian, Executive Director December 14, 2015 Market Medians: January 1999 through June 2015 - Page 4

2012 new tenancies) 1"t Q 2012 2"d Q 2012 3rd Q 2012

#BR Rent #Units Rent #Units Rent #Units Studio $900 152 $1,025 427 $1,050 408 1BR $1,200 226 $1,395 578 $1,345 701 2BR $1,600 123 $2,095 641 $1,750 501 3BR $2,300 16 $2,700 113 $2,595 93

2013 new tenancies) ptQ2013 2"d Q 2013 yd Q 2013

#BR Rent #Units Rent #Units Rent #Units Studio $1,000 132 $1,100 419 $1,150 384 lBR $1,300 226 $1,495 664 $1,450 611 2BR $1,750 100 $2,195 611 $1,995 480 3BR $2,500 15 $2,900 147 $2,895 77

2014 new tenancies) ptQ2014 2"d Q 2014 3rd Q 2014

#BR Rent #Units Rent #Units Rent #Units Studio $1,050 147 $1,249 465 $1,275 446 1BR $1,400 232 $1,595 721 $1,620 634 2BR $1,900 113 $2,395 623 $2,248 457 3BR $2,850 16 $3,250 112 $3,000 79

2015. new tenancies 2nd Q 2015 3rd Q 2015

#BR Rent #Units Studio $1,295 160 $1,495 350 1BR $1,695 235 $1,795 612 2BR $2,150 125 $2,695 582 3BR $2,588 18 $3,500 112


$1,095 87 $1,300 162 $1,700 99 $2,600 12

I


$1,100 96 $1,500 207 $1,950 105 $2,700 16

' 4th Q 2014

Rent #Units $1,263 124 $1,650 177 $2,000 86 $2896 13

4th Q 2015


12/31!2012(Year) Rent #Units $1,050 1050 $1,325 1689 $1,850 1431 $2,595 247


$1,100 1139 $1,460 1906 $2,046 1522 $2,895 280


$1,250 1098 $1,595 1720 $2,250 1279 $3,000 235

6/30/2015 Rent

$1,425 $1,795 $2,600 $3,495

TEL: (510) 981-7368 (981-RENT) • TDD: (510) 981-6903 • FAX: (510) 981-4940 E-MAIL: [email protected] •DINTERNET: www.citvotberkehiy.info/rent/

Jay Kelekian, Executive Director December 14,2015 .Market Medians: January 1999 through June 2015- Page 5

Annual Citywide Medians By Number of Bedrooms (All Units)

As of 12/31/98 12/31/99 12/31/2000 12/31/2001 12/3112002 12/3112003 #BR

Studio 1BR 2BR 3BR

As of #BR

Studio 1BR 2BR 3BR

Rent Units Rent Units Rent Units Rent Units Rent Units Rent Units $527 3,725 $560 3,840 $596 3,895 $650 3,871 $719 3,854 $731 3,910 $624 8,075 $662 8,145 $714 8,185 $773 8,184 $858 8,097 $900 7,983 $777 5,651 $835 5,659 $900 5,693 $975 5,643 $1,100 5,562 $1,200 5,500

$1,083 915 $1,140 831 $1,245 816 $1,350 807 $1,538 784 $1,662 765

12/3112004 12/3112005 12/3112006 12/3112007 12/31108 12/3112009 Rent Units Rent Units Rent Units Rent Units Rent Units Rent

$750 3,905 $775 3,928 $795 3,919 $825 3,834 $865 3,762 $895 $939 7,941 $950 7,899 $982 7,906 $1,026 7,911 $1,075 7,951 $1,100

$1,250 5,442 $1,280 5,430 $1,321 5,451 $1,395 5,571 $1,450 5,667 $1,500 $1,750 753 $1,799 733 $1,820 733 $1,930 780 $2,044 853 $2,100

As of 12/3112010 12/3112011 12/3112012 12/3112013 12/3112014 06/30/2015 #BR Rent Units Rent Units Rent Units Rent Units Rent Units Rent Units

Studio $895 3,703 $900 3,813 $935 3,729 $975 3,668 $1,012 3,858 $1,046 3,960 1BR $1,101 7,895 $1,129 7,906 $1,177 7,855 $1,225 7,893 $1,293 7,928 $1,326 7,940 2BR $1,500 5,734 $1,525 5,804 $1,587 5,900 $1,650 5,975 $1,746 6,004 $1,800 6,023 3BR $2,150 890 $2,150 934 $2,241 987 $2,350 1,026 $2,450 1,027 $2,532 1,030

2125 Milvia Street, Berkeley, California 94704 TEL: (510) 981-7368 (981-RENT) • TDD: (510) 981-6903 • FAX: (510) 981-4940 E-MAIL: [email protected] •DINTERNET: www.cityofberkeley.info/rent/ .

Units 3,740 7,945 5,721

887

Jay Kelekian, Executive Director December 14,2015 Market Medians: January 1999 through June 2015- Page 6

12/31/1998 Med I Avg I #Units $6431 $7201 19,253

12/3112003 Med I Av2 I #Units $9001 $1,0281 18,617

12/3112008 Med I Av2 I #Units

$1,1001 $1,2i31 18,798

Annual Citywide Medians and Averages (All Units-includes units with 4+ bedrooms)

12/3111999 12/3112000 12/3112001 Med I Avg I #Units Med I Av2 I #Units Med I Av2 I #Units

$6901 $787l 18,788 $7501 $8651 19,178 $8101 $9431 18,767

12/3112004 12/3112005 12/3112006 Med I Avg I #Units Med I Av2 I #Units Med I Av2 I #Units

$9321$1,0461 18,652 $9501 $1,0621 18,418 $9941 $1,0921 18,534

12/31/2009 12/3112010 . 12/3112011 Med I Avg I #Units Med I Avg I #Units Med I Avg I #Units $1,1501$1,2601 18,893 $1,1591 $1,2741 18,797 $1,1951 $1,2971 19,027

12/3112013 12/31/2014 06/30/2015 Med I Avg I #Units Med I Avg I #Units Med I Avg I #Units

$1,3ool $1,419 I 19,093 $1,375 1 $1,498 J 19,087 $1,424 _l $1,554 I 19,261

2125 Milvia Street, Berkeley, California 94704 TEL: (510) 981-7368 (981-RENT) • TDD: (510) 981-6903 • FAX: (510) 981-4940 E-MAIL: [email protected] •DINTERNET: www.citvofberkeley.info/rent/

12/31/2002 Med I Avg I #Units ' $8821 $1,0081 18,784

12/3112007 Med I Avg I #Units $1,0421 $1,1471 18,545

12/3112012 Med I Avg I #Units $1,2361 $1,3451 19,030


City of Berkeley Number of Reported Qualifying Vacancy Registrations By Submarket Area through 6/30/2015 (As of 12/1/2015) (Excludes exempt units)

Housing Tracts by Area: Area 1, tract nos. 11, 12, 13, 14, 15, 16, 17,38 Area2,tractnos.18, 19,22,23,30,31 Area 3, tract nos. 24, 25, 27, 28, 29, 36, 37 Area 4, tract nos. 20, 21, 32 Area 5, tract nos. 33, 34, 35, 39, 40

City of Berkeley and Surrounding ClUes Census Tract Map and Market Areas

-City Boundary

- Censllll Tract BoundaJY

-Maz1{GIAreaBOundary

Total Number of Registered ("Rented") Units ?Y Submarket Area 06/30/2015

North Berkeley (Area 1) Central Berkeley (Area 2) University Area (Area 3) West Berkeley (Area 4) South Berkeley (Area 5)

Total

No. Units 1,475 3,474

10,056 810

3,366

19,261

Submarket Area

Tenancies Starting Before 1999 2,445 units (12.69% of all units) 1

2 Avg. Rent Ceiling 3

All units= $817.95 4 1 BR =· $749.26 (1,129 units) 5

Tenancies Starting 1/1/99 - 06/30/2015 16,816 units (87.31% of all units) 1

Avg. Rent Ceiling All Units= $1,660.78 1 BR = $1,441.52 (6,805 units)

2 3 4 I

5

% of total units 7.66%

18.04% 52.21%

4.21% 17.48%

No. Units % of Submarket

230 590

1,062 133 429

1,245 2,884 8,994

677 2,937

15.59% 16.98% 10.56% 16.42% 12.75%

84.41% 83.02% 89.44% 83.58% 87.25%


Avg. Rent Ceiling $1,725.98 $1,410.15 $1,645.22 $1,277.45 $1,408.16

$1,553.79

06/30/2015 Avg. LRC

$909.64 $790.50 $832.82 $745.09 $792.66

$1,876.79 $1,536.92 $1,741.15 $1,382.03 $1,498.06


transmittal of...from: liefbursell, associate management analyst subject: market medians: january...

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