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<br />PAGE | 4 OF 8 <br /> <br />a very low number. For comparison, over 20% of single family homes region-wide are <br />renter occupied. There is no discernable trend in single family rentals over the past few <br />years. <br />2. Of the City’s total housing stock (~4,300 units), 60% are reported to be owner-occupied. <br />This estimate assigns an owner-occupied rate of approximately 25% of the multi-family <br />units in the City. This compares to a region-wide owner-occupied percentage of <br />approximately 66%. <br />3. The disparity is in the relative ratio of attached/multi-family units. Saint Anthony has a <br />higher percentage of attached residential units than the metro at-large, which is at <br />about 30% multi-family overall (50+% in Saint Anthony). However, this disparity <br />appears to be mitigated somewhat in that a higher percentage of St. Anthony’s multi- <br />family units are owner-occupied than is common in region as a whole. <br />4. Code compliance staff have reported no clear correlation between rental- or owner- <br />occupied units as far as the levels of code violations or issues. <br />5. As staff has reported in the past, the large majority of single family homes being rented <br />are owned by parties who are licensed for only one such unit in the City, and the next <br />largest category is of those who own and license two rental units. Only a few of the <br />City’s landlord/owners own more than one or two units for rent. <br />6. Market costs for single family homes in the Village remain relatively high, which is <br />believed to discourage large-scale investor-owned housing speculation. <br /> <br />Accompanying this memorandum is a proposed ordinance for review and discussion based on <br />previous work session discussion. Previous discussions indicated interest in segmenting the City <br />in 4 neighborhood zones and assigning maximum long-term rental limits per each zone. <br />Table 1 illustrates that most zones have approximately 3 percent of single family properties <br />utilized for long term rental. Zone 1, which is the area north of 37th Avenue, has an existing <br />long-term single family rental inventory of approximately 4 percent. City-wide long-term single <br />family rentals are currently at 3 percent. <br /> <br />8