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3.1.1 MHMP Ratios Table 13 below shows the MHMP ratios using the formula defined in the MHMP. The number of employed residents per household,which is a key assumption in the jobs/housing ratio formula, is currently the same as that estimated in the MHMP according to 2017 ACS data.The vacancy rate will change over time depending on factors such as total supply of units on the market, the general health of the economy, and the job market. The 2017 ACS data indicates a vacancy rate of 3.2 percent whereas the MHMP estimated a vacancy rate of 5.0 percent. Table 13 Calculated Mountain House Master Plan Ratios Calculated MHMP Ratios MHMP Item Formula Population Min.Ratio Best Ratio Buildout Serving Only [1] Estimate [2] [3] [2] Residential Units Completed[2],[3] a 5,932 4,661 5,932 16,105 Number of Permanent Jobs b 525 605 1,397 21,924 Employed Residents per Household[4] c 1.44 1.44 1.44 1.44 Vacancy Rate d 3.2% 3.2% 3.2% 5% Required Housing e=(b/c)*(I+d) 377 434 1,004 15,986 Jobs/Housing Ratio f=e/a 0.06 0.09 0.17 0.99 Master Plan Estimates @ 4,000 Units 0.39 0.70 0.79 Source:HEC and"Economic Impact Study of the Proposed Housing Development in Stockton,CA",March 25,2015 by the Eberhardt School of Business,University of the Pacific. [S]There is no data source that provides the exact number of construction jobs generated by development in Mountain House. HEC estimated direct construction jobs using results of an input-output analysis prepared by the University of the Pacific for new housing in Stockton.The study concludes that for every 1,000 homes built in San Joaquin County there are 2,138 direct construction jobs generated.The ratio of 2.1 is applied to the average number of units built per year(2003-2018). Average Number of Homes Built per Year 371 Ratio of Construction Jobs to Homes 2.138 Construction Jobs Generated 793 [21 Residential units completed at the end of 2018. [3]Residential units completed at the end of 2015. [4]The MHMP assumes 1.44 employed residents per household throughout project development;this matches 2017 ACS data. The MHMP estimated that at approximately 4,000 units developed the jobs to housing ratio would be 0.39 for population-serving jobs,0.70 under the minimum ratio, and 0.79 under the best-case ratio.The current estimates for population-serving jobs and best-case ratios at 5,932 units are 0.06 and 0.17, respectively.The current estimate for the minimum ratio at 4,661 nits completed at the end of 2015 is 0.09. The jobs to housing ratio is lower at this stage in development than it was estimated to be in the MHMP using any of the three different MHMP ratios. Using the MHMP formula,the minimum ratio is compared with Altamont Corridor comparison places and the County in Table 14.The minimum ratio for Mountain House is much lower than for the comparison places. Pleasanton has a ratio of 1.74.All the other communities have ratios Mountain House First Jobs Housing Review Final November 2019 Page 19