11-03-2010 - Laserfiche WebLink

Home Browse Search

Rental Rates The City of Mounds View requests owners of rental dwellings to supply rental rates with the annual rental dwelling license application. The property owners voluntarily supply this information. Table 13 shows the 1998 and 2007 average rental rates for one, two, and three bedroom units. Average Mounds View Rental Housing Rates vs. Met Council Affordable Housing Rates Apartment size 1998 2007 1 bedroom $498 $613 2 bedroom $591 $754 3 bedroom $768 $1030 at 50% income at 60% income $736 $883 $883 $1060 $1020 $1224 The 2007 average rental rates for Mounds View are less than or very close to the Metropolitan Council affordable housing rates for at 50% of median income, and much less than at 60% of median income levels. Most of the rental housing in Mounds View is very affordable and falls within 60% of median income levels. Housing Condition The City Council has recognized that as Mounds View continues to mature, there is a need to emphasize the maintenance of the housing stock and to protect the quality of life in the neighborhoods. Initiatives such as an increased code enforcement effort and a rental housing licensing ordinance are specific actions the City has implemented to help achieve this goal. Subsidized Housing There are currently 223 subsidized rental units in Mounds View. Subsidized units comprise 16 percent of the total rental units in the city. The following is a listing and type of the subsidized units in Mounds View: Housing Assistance: Section 8 Vouchers: 57 multi and single family Metro HRA Section 8 Units (2008, city wide) Housing Development: Low Income Housing Tax Credits Silver Lake Pointe: 76 unit senior housing complex Silver Lake Commons: 50 Apartment/Townhome units Section 202 Wildwood Manor: 40 unit senior housing complex. 4