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City of Arden Hills - Comprehensive Plan - DRAFr <br />rental housing comprises only 15% of the total housing in Arden Hills, which <br />includes one traditional apartment building in Arden Hills with 37 units. The other <br />rental units in apartment style buildings are oriented toward the senior population. <br />According to the 2000 Census, less than 2 percent of the single-family homes in <br />the community were renter occupied. <br />Arden Hills promotes housing diversity through its long-term goals, policies, and <br />strategies. The market is also expected to exert pressure on the city for more <br />housing diversity. As was noted earlier, factors such as an aging population, a <br />population that has more non -family households, and increased numbers of <br />householders living alone is expected to drive demand for more attached, multi- <br />family housing. Multi -family units expected to be in demand are likely to be <br />oriented toward both owners and renters. <br />7.4.2 Housing Affordability <br />Affordable housing is an issue in every Twin Cities area community. With housing <br />costs outpacing many wages, it is becoming increasingly important to focus on <br />affordable housing in order to meet the needs of essential community members <br />including teachers, police officers, and retail workers. Because of the disparity of <br />housing costs and wages throughout the Twin Cities, affordable housing continues <br />to be a major initiative of the Metropolitan Council. <br />According to the Metropolitan Council, housing is considered affordable if it is <br />priced at or below 30% of the gross income of a household earning 60% of the <br />Twin Cities median family income. In 2007, the area median income for the seven - <br />county Minneapolis -St. Paul area adjusted by the Department of Housing and <br />Urban Development for a family of four was $78,500. At the present time, housing <br />is considered affordable if housing costs for a family of four are below 30% of <br />$47,100. <br />To implement the Livable Communities Act in 2007, the Metropolitan Council uses <br />as the upper limit of affordability for ownership purchase price and monthly rents, <br />the following dollar amounts: <br />2007 HOMEOWNERSHIP <br />Household Income Level: Affordable Home Price <br />80% of area median income ($62,800) $206,800 <br />60% of area median income $47,100 $152,000 <br />2007 RENTAL HOUSING <br />Bedroom size: <br />*Monthly gross rent including tenant -paid <br />utilities, affordable at 50% of area median <br />DRAFT 32 <br />2/22/2008 <br />