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Oakland Economic Dashboard Q2 2016

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Quarterly Economic Dashboard Q2 2016 April - June

Employment

Unemployment Rate

5.2%

Employment

Q2 2015: 5.7%

200,233

Q2 2015: 197,533

Source: State Employment Developent Department, Q2 2016

Wages

This table shows the mean annual wage by occupation in Alameda County.  Most Oakland residents (72.5%) work outside Oakland. About half of working Oakland residents are employed in Alameda County (49%).

Alameda County Mean Annual Wage by Occupation (2016)

The average wage for all occupations in the County is $62,947. More than half of all County jobs are in the five lowest wage categories: Transportation, Manufacturing, Healthcare Support, Personal Care and Food Prep.

Sales Tax

Real Estate Transfer Tax

$11,620,100

Revenues collected and reported every quarter include Sales Tax, Real Estate Transfer Tax, and Transient Occupancy Tax. Due to the time needed for state collection and analysis, sales tax reporting for this quarter reflects spending during the previous quarter (Q4 2015. )

$22,370,845

Sources: City of Oakland Revenue Department, HdL Companies

Quarterly City Revenues: Calendar Year Q2

City Revenue Streams   2013-2016

TOT Tax (Hotels)

$8,476,788

Fiscal Year End Revenue Review: FY2015-2016

Quarterly Revenue  

Fiscal Year 2015-2016 ended in June. The City of Oakland saw a substantial increase in this year's Real Estate Transfer Taxes as well as a continued increase in Transient Occupancy taxes. Sales taxes have declined primarily as a result of low fuel costs.

Residential Real Estate

Commercial Real Estate

Residential Building Permits

Development Pipeline

Industrial Vacancy: 2.8% Rent/square foot: $8

East Bay: 4.8%, $10

Retail Vacancy: 2.8% Rent/square foot: $23.75

East Bay: 3.6%, $24.34

Office Average Rents/Square Foot

Quarterly Rent Average

Median Single Family Home Price

$73.05 (SF)

$32.28 (OAK)

$28.43 (East Bay)

Office Vacancy Rates

8.0% (SF, East Bay)

5.2% (OAK)

2,000 Units Under Construction 10,323 Units Approved 17,231 Units in Pipeline

695,591 Square Feet Under Construction 2,368,187 Square Feet Approved 3,388,495 Square Feet in Pipeline

H

1

C

20

Sources:HdL Companies, JLL, Zillow, CoStar Market Analytics, City of Oakland Planning & Building Department. Dashboard Compiled by Economic and Workforce Development Department. Contact or Subscribe: [email protected]

Housing

Commercial

Office Vacancy: 5.2% Rent/square foot: $ 32.28 Downtown: 3.7%, $43.76

East Bay: 8.4%, $28.43

Monthly Rent ($)

Sales Price ($)

(As of April 2016)