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� There are over 15,200 housing units within the City. + Single family detached homes make up the majority of these housing units at 56%. * The second largest housing type is apartments and condominiums at 38%. ; Townhomes are also a major housing type at over 5%. - Approximately 70 % of all housing units are owner-occupied. t There are approximately 100 mobile homes most of which are at least 20 years in age. * The City has a higher percentage (68%) of homeowners including single family, �owr�home and condominiumsthan Ramsey County, but the statewide (especially outstate) home ownership rate (75%) and the Metro area home ownership rate (78%) remains higher. t Homeowner vacancy rates are similar to those found in Ramsey County and the metro area, with a turnover rate of approximately 3% per year. � The number of housing units built prior to 1950 represents 9% of the entire housing stock. Many of these units offer affordable housing opportunities, as well as opportunities to redevelop the larger lots into several housing sites. F The housing stock built prior to 1960 is 37% of the total. � I n the housing boom years from 1960 to 1970, almost 30% of the housing units were constructed. � Some structural or maintenance repair work is required for each home after 20 years of use and 85% of the homes in the City are over 20 years of age. - From 1970 to 1979, the City added another 2,726 units or 18% of its current housing. Slightly more than 16%of the housing has been constructed since 1980. �.� Multi-Family Housing Stock Study Summary: The HRA commissioned a multi-family demographic analysis in March, 2003. The study is in partnership with the City's Community Development Department which has contracted with Excensus, a private demography firm. The purpose of the study was to identify: (1) the current quality and quantity of multi-family housing units; (2) the current multi-family demographics; (3) the renter population origin and destination; (4) the relationships among household type, age, size, income, and, (5) the multi-family quality of life for the residents. The following is a summary of some of the key findings. . The City currently has over 6,330 multi-family housing units with the prospect of 250 new units to be constructed in each of the next three years. By 2006 the City could have a total of 7,200 multi-family housing units. Housing Plan— 2005 Page 4 �osev�lIe �TRA