7.1. HRASR 04-02-2018 - Laserfiche WebLink

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HOUSING CHARACTERISTICS Summary of Housing Characteristics Residential Construction Trends 2000 to Present Maxfield Research obtained data from the City of Elk River on the number of building permits issued for new housing units in Elk River from 2000 to 2017. Table HC -1 on page 20 displays permits issued for single-family and multifamily dwellings. Multifamily units usually include both for -sale (condominium, twinhomes, and townhomes) and rental projects. The following are key points about housing development since 2000. • In 2017, the City of Elk River permitted 113 residential units, the most residential units per- mitted in a single year since prior to the onset of the Great Recession. • On average, the City of Elk River permits 90 single-family units, 6.5 townhome/twinhome units, and 54 multi -family units per year since 2000. • From 2008 to 2016, Elk River averaged only 43 single-family units, less than 1 town- home/twinhome units, and 14 multifamily units per year. • Since 2013, there has been 398 single family units, five townhome units and 68 multifamily rental units permitted. This is an average of 80 single family units and 94 units overall over the five year period. Housing Units by Structure and Occupancy or (Housing Stock by Structure Type) • The dominant housing type in the Market Area is the single-family detached home, repre- senting an estimated 89% of all owner -occupied housing units and 25% of renter -occupied housing units as of 2016. MAXFIELD RESEARCH AND CONSULTING 22