Descriptions of Housing Market Typology Map
The block groups in this market represent competitive housing markets with the highest sales prices and the lowest foreclosure activity in the region. Vacant buildings are rare and these areas are amongst the lowest residential density of all categories. Market interventions are not necessary in these markets, but basic municipal services such as street maintenance and code enforcement are essential to maintaining these markets.
The block groups in these markets represent above City average sales prices, maintained by high levels of permit activity. Market “B” has high ownership rates, compared to market “C” which has the second highest subsidized rental market; while both are among the highest residential density across the city. Modest incentives and strong neighborhood marketing should keep these communities healthy, with the potential for growth.
The block groups in these markets are near the City average in sales prices but with markedly higher foreclosure activity compared to “A”, “B”, and “C” markets. The highest level of owner occupancy, low subsidized rental, and low residential density are represented by market “D”. These markets combined represent 25% of all households, including 31% of all owner occupied households in the City. Interventions are geared toward aggressive code enforcement, which in turn supports existing homeowners.
The block groups in these markets experience sales prices ~30-50% below the city average, while keeping foreclosure activity similar to markets “D” and “E”. Markets “F” and “H” have significant levels of owner occupancy, while market “G” represents the lowest level of owner occupancy and the highest level of subsidized housing units (19%). These markets combined represent 27% of all households, including 27% of all owner occupied households in the region. Intervention strategies aim to support homeowners living in communities with limited access to resources and under-appreciated assets, such as historic housing stock.
The block groups in these markets experience the lowest sales values in the city, roughly 80-90% lower than the City average. These markets contain the lowest levels of permit activity, low foreclosure activity, and the highest vacancy rate. One-fifth of all residential land in market “J” is either vacant land or vacant buildings. These markets combined represent 13% of all households, and only 11% of all owner occupied households in the region. They have experienced some of the most substantial population losses in the City during the past decades. Comprehensive housing market inventions should be targeted in this market category, including site assembly, tax increment financing, and concentrated demolitions to create potential for greater public safety and new green amenities.
Rental Market 1 is predominantly multifamily; 74% of all rental units being in multifamily structures. Rental Market 2 has more single family rental units, only 31% are in multifamily buildings (per U.S. Census estimates), and markedly lower median rents. The subsidized rental block groups comprise 7,016 housing units, over 15% of all of the subsidized housing units in the City. These markets combined represent only 5% of all households, including only 9% of all renter occupied households in the region.