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<br />Inventory (Draft July 7) Page 21 <br />Below is a table showing the ratio of building value to the total market value of single family <br />properties in Little Canada. The vast majority of homes fall in the .40 – 1.0 range, meaning that <br />the value of the home is worth more than 40% of the total market value of the property, or that <br />the land value is not as valuable as the home on it. Many of the homes in Little Canada fall in the <br />.60 – 1.0 categories, with over 10% of the homes falling between .80 and 1.0, for homes in this <br />category, the assessed value of the property is almost entirely the home. <br /> <br />Building Value to Total Market Value Ratio <br />(Single Family Detached) <br />Building Value Ratio Properties Percent <br />0 – 0.20 56 3.1% <br />0.21 – 0.40 48 2.7% <br />0.41 – 0.60 404 22.3% <br />0.61 – 0.80 1,103 60.9% <br />0.81 – 1.00 200 11.0% <br />Total 1,811 100.0% <br />Ratio is determined by dividing the value of the building by the total value of the property <br />which includes both building and land. <br />Source: Ramsey County, City of Little Canada, Minnesota DNR, NAC, analyzed <br />via GIS <br /> <br />Affordable Housing <br /> <br />Affordability of Housing <br />City of Little Canada <br />Units affordable to <br />households with income at or <br />below 30% of AMI <br />Units affordable to <br />households with income 31% <br />to 50% of AMI <br />Units affordable to <br />households with income 51% <br />to 80% of AMI <br />998 817 1,689 <br />Source: Met Council <br /> <br />Housing Tenure <br />City of Little Canada <br />Ownership Units Rental Units <br />2,895 1,816 <br />Source: Met Council <br /> <br />Type of Housing <br />City of Little Canada <br />Single-Family Units Multi-Family Units Manufactured Homes Other <br />2,065 2,195 451 0 <br />Source: Met Council <br />