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March 18, 2025 Page 2 Goal 3. Seek opportunities for development of new housing that supports the goal of adding affordable units in the community, whether through redevelopment, or through the use of outside agency expertise. Preserve single family housing in the Village through limitations on rental licensing that manage and avoid loss of such housing to investor-ownership. Goal 4. Balance protection for ownership opportunities in ways that accommodate special circumstances, and general healthy-market conditions, given the Village’s low rate of renter- occupied patterns and higher housing values In addition, the following considerations may help identify how the City compares to the metro-wide average. Estimates of these numbers often vary, but these represent an average of the data sources. • The number of single-family dwellings that are being rented long-term in the City has ranged from the high 50s to mid-60s over the past few years. The City has 1,954 single family homes in the city, resulting in a percentage at 3% of single-family homes. In comparison, over 20% of single-family homes region-wide are renter occupied. There is no discernable trend in single family rentals over the past few years. • Of the City’s total housing stock (~4,300 units), 60% are reported to be owner-occupied. This estimate assigns an owner-occupied rate of approximately 25% of the multi-family units in the City. This compares to a region-wide owner-occupied percentage of approximately 66%. • The disparity is in the relative ratio of attached/multi-family units. Saint Anthony has a higher percentage of attached residential units than the metro at-large, which is at about 30% multi- family overall (50+% in Saint Anthony). However, this disparity appears to be mitigated somewhat in that a higher percentage of St. Anthony’s multi-family units are owner-occupied than is common in region as a whole. • Code compliance staff have reported no clear correlation between rental- or owner-occupied units as far as the levels of code violations or issues. • As staff has reported in the past, the large majority of single-family homes being rented are owned by parties who are licensed for only one such unit in the City, and the next largest category is of those who own and license two rental units. Only a few of the City’s landlord/owners own more than one or two units for rent. • Market costs for single family homes in the Village remain relatively high, which is believed to discourage large-scale investor-owned housing speculation. • Previous work session meetings with Planning Commission have expressed interest in limiting single-family rentals and a desire to avoid large concentrations of single-family rentals in any area of the City. LONG-TERM SINGLE-FAMILY RENTALS EXISTING CONDITIONS There are approximately 1,954 single family homes in Saint Anthony. The City estimates that there are 58 rental single-family properties to date. Based on this, the City estimates that approximately 3 percent of single-family properties are currently used for long-term renting. Table 1: Existing Long-Term Single-Family Rental Conditions Long-term Rental Properties Total Single-Family Properties Percentage 58 1954 2.97%