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2008 Mounds View Comprehensive Plan <br />________________________________________________________________________ <br /> <br />Chapter 4: Housing <br />Rental Rates <br /> <br />The City of Mounds View requests owners of rental dwellings to supply rental rates with the annual <br />rental dwelling license application. The property owners voluntarily supply this information. Table <br />13 shows the 1998 and 2007 average rental rates for one, two, and three bedroom units. <br /> <br />Table 13: <br />Average Mounds View Rental Housing Rates vs. Met Council Affordable Housing Rates <br /> at 50% income at 60% income <br /> <br /> <br />4-8 <br />Blighted house <br />demolished to make <br />room for future <br />redevelopment <br /> $736 $883 $883 $1060 <br />$1020 $1224 <br />Apartment size 1998 2007 <br />1 bedroom $498 $613 <br />2 bedroom $591 $754 3 bedroom $768 $1030 <br />The 2007 average rental rates for Mounds View are less than or very close to the Metropolitan <br />Council affordable housing rates for at 50% of median income, and much less than at 60% of median <br />income levels. Most of the rental housing in Mounds View is very affordable and falls within 60% <br />of median income levels. <br /> <br /> <br />Age of Housing Stock <br /> <br />Figure 7 on page 4-10 illustrates the <br />location and age of single and two family <br />residential properties in Mounds View. <br />62% of Mounds View’s housing stock <br />was built before 1970 and 87% was built <br />before 1980. There were 20 single-family <br />homes demolished in Mounds View <br />between 2000-2008, and fourteen new <br />homes have been constructed in their <br />place. Three of the homes were <br />demolished to make room for new larger <br />development – one in anticipation of <br />future commercial redevelopment, one for <br />a church expansion, and one for a 17 lot <br />single-family housing development. All <br />of the homes demolished during this time <br />were built between 1930 and 1970.