City Council

4. RENT COMPARISONS – ALHAMBRA & NEIGHBORING CITIES – F2M24-33\nFor the 2024 Strategic Plan (Objective 6.7), staff was directed to provide information\nregarding rental rates from Alhambra and neighboring cities for the purposes of better\nmonitoring rental housing prices in the community, particularly subsequent to certain\nCovid-related tenant protections expiring throughout the state and locally. Staff will\npresent the results of their research and provide not only a summary of August 2024 rental\ncost data in Alhambra and surrounding cities, but also a review of five-year rent values in\nAlhambra and the other cities. Because housing stock, housing age, and housing\nlegislation can be indicators of rental pricing, staff will also present certain other facts\nrelevant to Alhambra’s rental housing market discussion.\nRecommended Action: City Council receive and file research information regarding\nthe housing rental market rates in the City of Alhambra and in neighboring cities.