Laserfiche WebLink
22 | Page <br />City of Little Canada Housing Study - 2025 <br />Housing Market Dynamics <br />This chapter explores key housing market indicators, including vacancy rates, resident longevity, <br />recent sales trends, and affordability concerns. <br /> <br />Vacancy Rate and Longevity <br />Little Canada’s vacancy rate is 8%, the highest among reference communities but still within the <br />typical range of 5-10%. <br />Figure 18 – Vacancy Rate <br /> <br />Source – 2023 ACS 5-Year Estimates <br /> <br />Some level of vacancy is necessary to ensure housing availability for new residents. However, <br />excessively high vacancy rates can indicate weaker housing demand or issues with housing <br />quality. <br /> <br />Half of Little Canada homeowners have lived in their current home for over 14 years, suggesting <br />a stable long-term resident base. <br />3.9% <br />7.9% <br />4.6% <br />2.6% <br />3.2% <br />6.0% <br />4.9% <br />2.8%2.5% <br />4.6%4.7% <br />0.0% <br />1.0% <br />2.0% <br />3.0% <br />4.0% <br />5.0% <br />6.0% <br />7.0% <br />8.0% <br />9.0%