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Housing Plan – 2005 Page 3 Roseville HRA Section 2. –HRA Housing Needs Assessment: 2.1 Why is housing important? Housing is important because there are ov er 15,000 housing units in the City of Roseville of which 60% of those un its are more than 35 years in age. Homes over 35 years of age typically require some leve l of maintenance and repair as well as modernization. The City’s housing supply was valued at $2.2 billion in 2003. Although housing represents 60% of the market value of th e City it is only 38% of the tax base and covers only 38% of the land area. Approximately two-thirds of the housing is owner occupied with an average of 2.44 people per household. Renters make up 32% of the households with an average 1.69 people per household. People per household have be en declining since the 1970’s when the City had over 3.3 residents per household. Housing is an aging investment and is cr itical to the quality of life in the community. Because it is the sector of the community with the most private investment ($2.2 billion), it is importan t to continually upgrade the housing supply to preserve its functionality and value in the City. As an indicator, median housing prices in the City are escalating slowly, ho wever, the median value is not increasing at the same rate as surrounding communiti es. As the quality and value decline, the City is not capable of competing for ne w young families. These families help generate the needed state aid per pupil fu nding of the two school districts which has traditionally been one of the key reason s people put down strong roots and ties to the community. The challenge of the HRA over the next 5-10 years is to provide programs that bring new families into the community to en sure that there is a continuous balance in price, product and people within the community. 2.2 Existing Demography & Conditions The following is a review of the City’s housing demography and its condition (number of units, type, age and value). The information was reviewed by the HRA in its evaluation of housing goals for the City. The information is provided from a variety of sources compiled by the City ’s Community Development Department. Those sources include the 2000 Census, Rams ey County value and type records, Excensus and GVA Marquette. The following is a summary of that compilation of data.