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City of Gem Lake Comprehensive Plan GEMLK 140643 Page 81 9 Housing Plan 9.1 Housing Supply The housing supply in Gem Lake is rather homogeneous. The 2015 US Census estimate of Gem Lake housing units is 178, with 173 estimated to be single family detached. Of these, 165 units are estimated to be occupied, with 143 housing units listed as “owner- occupied” and 22 units listed as “renter-occupied” (note that the Metropolitan Council modified this rental total to 12 units, see Figure 9.1). Seven units are estimated to be double units. Five housing units are considered multi-family. The condition of housing within Gem Lake is generally good. Well over half the homes in Gem Lake have been built since 1970. Since 2000, the US Census Bureau estimates 38 new units have been constructed. A total of 75 units were built prior to 1970, according to US Census data. The median value of housing in Gem Lake in 2015 was $305,000. Table 9-1 lists 2015 US Census Bureau estimated housing valuation data. Table 9-1 – US Census Bureau 2015 housing valuation estimates Value Housing Units Less than $50,000 6 $50,000-$99,999 1 $100,000-$149,000 5 $150,000-$199,999 19 $200,000-$299,999 40 $300,000-$499,999 36 $500,000-$999,999 25 $1,000,000 or more 12 The median gross rent in Gem Lake in 2018 was $1,375 per month. The 2018 estimates show that there are 454 persons and 169 households in Gem Lake, for an average of 2.69 persons per household. This compares to 3.01 in 2000. Due to an aging population, smaller households have become a national trend. The median household income in 2018 for Gem Lake was $105,400. That compares to $63,179 respectively to the United States and $70,315 respectively to Minnesota. Supply and types of housing in the City of Gem Lake are limited. Few are vacant or available and almost all of the housing stock is classified as single family detached. More diverse housing options currently exist within the neighboring communities of Vadnais Heights, White Bear Lake, and White Bear Township. While the planned mixed use development near Hoffman Corner’s may provide an opportunity for senior and multiple family housing, Gem Lake also needs to explore region-wide efforts to provide for more housing diversity. Overcrowding is not a problem in the City of Gem Lake. The majority of houses in the City have three or more bedrooms, which meshes well with the average household size of 2.69 persons.