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. The second largest housing type is apartments and condominiums at 3 8%. <br />• Townhomes are also a major housing type at over 5%. <br />• Approximately 70 %� all housing units are owner-occupied. <br />■ There are approximately 100 mobile homes most � which are at least 20 <br />years m age. <br />. The City has a higher percentage (68%� homeowners including single <br />family, fowr►hon�e and condominiums than Ramsey County, but the <br />statewide (especiallyoutstate) home ownership rate (75%�nd the Metro <br />area home ownership rate (78%�emains higher. <br />. Homeowner vacancy rates are similar to those found in �ar�e� County <br />and the metro area, with a turnover rate of approximately 3%per year. <br />� The number cf housing units built prior to 1950 represents 9% � the <br />entire housing stock. Many � these units offer affordable housing <br />opportunities, as well as opportunities to redevelop the larger lots into <br />several housing sites. <br />� The housing stock built prior to 1960 is 37%� the total. <br />� In the housing boom years from 1960 to 1970, almost 30% � the housing <br />units were constructed. <br />• Some structural or maintenance repair work is required for each home <br />after 20 years cf use and 85%cf the homes in the City are over 20 years � <br />age. <br />� From 1970 to 1979, the City added another 2,726 units or 18%� its current <br />housing. Slightly more than 16%� the housing has been constructed since <br />1980. <br />2.3 Multi-FamilyHousing Stock Study Summary: <br />The HRA commissioned a multi-family demographic analysis in March, 2003. <br />The study is in partnership with the City's Community Development <br />Department which has contracted with Excensus, a private demography firm. <br />The purpose cf the study was to identify: (1) the current quality and quantity � <br />multi-family housing units; (2) the current multi-family demographics; (3) the <br />renter population origin and destination; (4) the relationships among household <br />type, age, size, income, and, (5) the multi-family quality cf life for the residents. <br />The following is a summary � some � the key findings. <br />� The City currently has over 6,330 multi-family housing units with the <br />prospect � 250 new units to be constructed in each � the next three years. <br />By 2006 the City could have a total � 7,200 multi-family housing units. <br />Rosevitle Comprehensive Plan - 2003 Update Page 4 of 4 <br />