INFORMATION HRSR 03-24-2003 - Laserfiche WebLink

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Ci of Elk River Housing Plan U•dated Januar 2003 Value of Owner-Occupied Units The 2000 Census also releases data on the self-reported value of owner-occupied housing units in the City of Elk River, which is illustrated in Table 17. A total of 3,881 owner-occupied housing units were included in the Census data with a median value of$144,800. The largest percentage of owner-occupied units range in value from $100,000 to $149,999 at 43.4%. This is followed by homes valued between $150,000 and $199,999 which comprise 30.4% of the units. Very few homes were reported to be valued under$50,000 in the community. Table 17 City of Elk River Value of Owner-Occupied Units Value Number Percent Less than $50,000 9 0.2% $50,000 to $99,999 475 12.2% $100,000 to $149,999 1,683 43.4% $150,000 to $199,999 1,181 30.4% $200,000 to 299,999 482 12.4% $300,000 and over 51 1.3% Total 3,881 100.0% • Source: 2000 Census The Census also provides information on the mortgage status of these households and monthly owner costs. Approximately 86.6%, or 3,360 of the 3,881 owner-occupied units have a mortgage. For those with a mortgage, the median monthly owner costs are $1,159 compared to a median monthly owner cost of$288 for those without a mortgage. According to the Census, selected monthly owner costs are the sum of payments for mortgages, deeds of trust, contracts to purchase, or similar debts on the property; real estate taxes; fire, hazard, and flood insurance on the property; utilities; and fuels. It also includes, where appropriate, the monthly condominium fees or mobile home costs. • 33