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Oakland Economic Dashboard Q3 2015

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Quarterly Economic Dashboard Q3 2015 October-December

Employment

Unemployment Rate

5.8%

Employment

Last Year: 8.4%

199,833

Labor Force

212,100

Last Year: 189,233

Last Year: 206,633

Quarterly City Revenues

Sales Tax

Real Estate Transfer Tax

TOT Tax (Hotels)

$11,275,819 (Q2 2015)

The Transient Occupancy Tax, based on hotel occupancy, has more than doubled over this time last year.  Due to the time needed for state collection and analysis, sales tax reporting always lags one quarter and is reported here for Q3 2015. Business and Property revenues are reported annually.

$21,488,187

,

,

,

,

Sources: City of Oakland Revenue Department, HdL Companies

$5,266,481

Residential Real Estate

Commercial Real Estate

Building Permits

Development Pipeline

Industrial Vacancy: 3.6% Rent/square foot: $8.66

East Bay: 5.2%, $9.65

Retail Vacancy: 2.5% Rent/square foot: $22.79

East Bay: 3.4%, $23.22

Office Average Rents/Square Foot

Zillow Rent Index-- All Homes

Median Single Family Home Price

$65.87 (SF)

$25.15 (OAK)

$26.28 (East Bay)

Office Vacancy Rates

9.1%

7.5%

Units in pipeline are approved, under review or in pre-application discussion with the Planning Department.

Housing:  15,504 units in pipeline 1,323 units under construction or recently completed

Commercial:  3.5 Million sf in pipeline 681,000 sf under construction

H

1

C

20

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

Housing

Commercial

Office Vacancy: 7.5% Rent/square foot: $ 25.15

East Bay: 9.1%, $26.28