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2004_1108_Packet
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When people move into a Roseville apartment, they are usually moving from another <br />apartment setting. Sometimes they are moving from other apartments in Roseville, <br />though more likely they are moving from elsewhere in the 11-county metro. When <br />residents move out of apartments in Roseville, about half of them then move into another <br />rental apartment while the other half buys single-family dwellings, the two most common <br />options for households transitioning out of their apartments. <br />Building Values: <br />The average tax value of multifamily housing of all types (meaning value of building per <br />the number of units in the complex including condos, townhomes and apartments) is <br />$66,000, but the average tax value for the apartment buildings is approximately $56,000. <br />The average value for apartments County wide is $50,000. However, 13 percent (559 <br />units) of Roseville's complexes have a value under $50,000 with an average value per <br />unit of $42,600. <br />Income: <br />Household incomes in the <br />apartments are <br />correspondingly less than the <br />incomes of residents of other <br />types of multifamily housing, <br />particularly incomes in <br />ownership units. Incomes <br />average just around $30,004 <br />per household in the <br />RosaviNe Multi-Family Study <br />Income <br />r,00,,mo ._ <br />waaae <br />���� - <br />, �- <br />�.•o-�voo : <br />apartments, while the average ne�,r� • � <br />across all of the multifamily <br />units is over $37,000. The � ' � � <br />median household income in ����� ����� <br />1999 was $51,056 with an <br />estimated median income in 2002 of $56,000. <br />3��ar �d�wm* ��M�w 6lrtp+r �TI►K <br />aPertme�ts <br />Diversity: <br />R�.gand� r�� race in the city, apartments are more diverse in their demographic makeup <br />than other multifamily housing, though the apartments are still just under 8 0 percent <br />white non-Hispanic, compared to 82.5 percent white, non-Hispanic residents in the <br />overall multifamily housing spectrum. Asians comprise the largest segment of nonwhite <br />residents at nearly 8 percent of the apartment population; the next largest community of <br />color dwelling in the apartments is African Americans at 5.8 percent. These figures <br />correspond fairly closely with diversity in the overall multifamily housing market in <br />Roseville. <br />ROSEVILLE MULTIFAMILY HOUSING REPORT - DRAFT 10/19/04 Page 17 <br />i <br />
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