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24 | P a g e Understanding Little Canada’s Local Economy Section Three – Retail Trade Analysis and Housing Study Summaries The following section summarizes key findings from the City’s 2025 Housing Study and the 2022 Retail Trade Analysis. While these reports examine different dimensions of the local economy, together they provide additional context for understanding demographic trends, housing supply, and retail performance within the broader fiscal and land use framework outlined in this report. 2025 Housing Study The Community Development Department prepared a housing study in 2025, largely reviewing different metrics from the same data sources used to create this report. As a recap, below were some of the key findings from the 2025 Housing Study: 1. Diverse Population: Little Canada is a small but diverse community, with 40% of residents identifying as Hispanic or non-white. The city also has age diversity, with 25% of residents over 60 and 25% under 18, reflecting a range of housing needs. 2. Lower Incomes & Higher Poverty: The city has a lower median income and higher poverty rate than most reference communities and the Twin Cities Metro, patterns that align with educational attainment levels relative to neighboring communities. 3. Multifamily Housing Prevalence: Nearly 50% of all housing units are in multifamily structures, a significantly higher share than in reference communities. However, multifamily housing is only permitted on less than 8% of buildable land. Much of this housing stock was built before 1974, raising considerations related to age, maintenance, and long-term viability. 4. Affordable Housing Supply & Cost Burden: Little Canada has the highest share of deeply affordable housing (30% AMI) among reference communities, and nearly 50% of the city’s housing stock is affordable at 60% AMI or less. Despite this, 40% of residents are cost-burdened, the highest rate among reference communities. 5. Large Single-Family Lots: Single-family parcels in Little Canada are larger than those in most reference communities, including more affluent suburbs. These lots often exceed the city's zoning requirements for minimum lot size and frontage. Modest zoning adjustments could allow for smaller-scale infill development and more efficient use of residential land.