Laserfiche WebLink
Figure 6- 4 Tax Assessors Estimated Market Values <br />a� <br />� <br />�o <br />> <br />a� <br />� <br />Y <br />R <br />� <br />2007 Assessed Housing Values <br />Over $500,000 <br />$400,001 to $500,000 <br />$300,001 to $400,000 <br />$200,001 to $300,000 <br />Under $200,000 <br />; '' / <br />0 1000 2000 3000 4000 <br />Number of Units <br />Source: 2008 Tax Assessors Data, Ramsey Counry and GIS data. <br />Rental Market <br />The rental housing mazket in New Brighton consists primarily of older apartrnent buildings that lack the <br />amenities offered by newer apartment buildings. These older apartments typically have little green space, <br />lack playground equipment and have no gazages. New Brighton fiu right in with regional market trends <br />cheracterized by (ow vacancies, slowly rising rents, and little new construction. Table 6-3 reflects recent <br />trends in the rental market in New Brighton. <br />Table 6- 3 Rental and Vacancy Rates in New Brighton <br />Averaee Rents <br />$795 <br />survey <br />$760 <br />Overall <br />Vacancy Rate <br />I .0% <br />6.0% <br />The City cutten8y has neazly 200 pariicipants in the Section 8 Program, approximately half of which are <br />located in just two apartment complexes: Aspen Glen and Polynesian Village. The abiliry for landlords to <br />voluntarily choose to participate in section 8 can be a barrier to ensure future section 8 housing <br />opportunities will be available to the New Brighton Community. <br />6-7 <br />�-- `„ <br />