Laserfiche WebLink
• <br />• <br />• <br />Housing and Neighborhoods: Trends and Conclusions <br />• The City is fully developed with single-family housing at net densities ranging from 2 <br />to 6 units per acre. Existing multi-family housing ranges from 12 to 46 units per acre <br />and is primarily located along Larp er acre benchmaOrk erall, Falcon Heights exceeds <br />the Metropolitan Council's 3 umt p <br />• The City's housing mix has remained remarkably stable but home ownership has <br />decreased from 59.5% in 1990 to 54.0% in 2007, primarily due to the addition of 175 <br />rental apartments in Falcon Heights Town Square. <br />• The City has a rental unit vacancy rate of _ % and an overall vacancy rate of <br />%, which indicates that there is very little housing available in the City. There is <br />almost no private vacant land available for the development of new housing. <br />• Housing quality is very good. According to the Ramsey County Department of <br />Records and Revenue, all housing wa erWe e rated Poor. better in 2006, except for 12 <br />properties which were rated Fair. Non <br />• Housing values remain strong. In 2000, median value of asingle-family, owner- <br />occupied home was $161d, a00 aluepwas $273 001 with 90% of o2wne0r occupied ey <br />County. In 2006, the me <br />housing valued above $214,500. <br />• Nearly half of the housing stock (47%) was built between 1950 and 1969.Only 18% <br />has been built since 1970. [To be revised] <br />• Approximately 18% of the City's housing stock (excluding dormitory or group <br />housing) is located on the University of Minnesota campus in Comomo~atel t one <br />Terrace. It is entirely under the jurisdiction of the University. App Y <br />third of the City's non-university housing is comprised ofmulti-family units (555). <br />[To be updated with FHTS] <br />• The City has eight existing Section 8 subsidized housing units and no public or <br />subsidized seniors housing. [To be updated] <br />Rental housing is skewed toward the University of Minnesota student population with <br />a predominance of one and two bedroom units. If there are constituencies whose <br />housing needs are not being met, they are most likely students. [No longer true? To <br />be updated?] <br />• Based on accepted rules of thumb for income/housing cost, there are no <br />constituencies in Falcon Heights whose housing needs are not being met. [Verify] <br />Assembled Elements, Draft 1 FH Comp Plan 2007 <br />Page 17 of 42 <br />