CEDAR FALLS COMPREHENSIVE PLAN HOUSING CHARACTERISTICS
The quality and occupancy of a community’s housing stock are key indicators of economic prosperity. Table 1.10 compares changes in housing indicators from 2000 to 2010, revealing the following trends:
• Total housing units increased by approximately 16.6% from 2000 to 2010, outpacing the 11.7% population growth during this period. The housing growth over and above population growth may be due in part to a declining household size.
• 64.1% of occupied units in 2010 were owner-occupied, and the remainder were renter- occupied. This ratio falls close to the range that is considered a “balanced market” be- tween owner and renter units (65-70% owner-occupied to 30-35% renter occupied). Cedar Falls has a slightly higher renter market due to the UNI student population.
• From 2000 to 2010, vacancy rate increased by more than 2% to 5.6%. This rise in va- cancy rate is healthy for the housing market. Excessively low vacancy rates can limit the amount of choice that potential buyers have in the market. A 5-6% vacancy rate is considered optimal.
• The average household size in Cedar Falls declined slightly from 2.45 persons per household in 2000 to 2.37 persons per household in 2010. Based on national and local trends, it is difficult to predict if this decline will continue.
• The median value of owner-occupied housing in Cedar Falls rose by approximately 44% from 2000 to 2010. This is particularly notable when compared to housing value trends in Iowa and the country as a whole during this decade. The median owner-oc- cupied housing value in Iowa stayed relatively constant from 2000 to 2010, while the median value for the U.S. decreased by almost 8%.
• Tables 1.11 and 1.12 outline basic housing stock characteristics for Cedar Falls in 2010:
• Nearly Half of Cedar Falls Housing was constructed between 1950-1979. Almost one quarter of houses were constructed since 1990.
• The majority of houses in Cedar Falls are single family detached units (63%).
Table 1.10: Change in Key Housing Indi c ator s 2000
Total Housing Units Total Occupied Units Owner Occupied Units % Owner Occupied Renter Occupied Units % Renter Occupied Vacant Units Vacancy Rate
Median Value (Owner-Occupied Housing) Median Gross Rent
Persons Per Household 22
13,271 12,833 8,258 64.3% 4,575 35.7% 438
3.3%
$102,500 $492 2.45
Source: Census 2010, Nielsen Claritas SiteReports 2010 2010
15,477 14,608 9,361 64.1% 5,247 35.9% 869
5.6%
$147,900 $646 2.37
Change
2000-2010 2,206 1,775 1,103 -0.2% 672
0.2% 431
2.3%
$45,400 $154 -0.08
% Change 2000-2010
16.6% 13.8% 13.4% -
14.7% -
98.4% -
44.3% 31.3% -3.3%
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116 |
Page 117 |
Page 118 |
Page 119 |
Page 120 |
Page 121 |
Page 122 |
Page 123 |
Page 124 |
Page 125 |
Page 126 |
Page 127 |
Page 128 |
Page 129 |
Page 130 |
Page 131 |
Page 132 |
Page 133 |
Page 134 |
Page 135 |
Page 136 |
Page 137 |
Page 138 |
Page 139 |
Page 140 |
Page 141 |
Page 142 |
Page 143 |
Page 144 |
Page 145 |
Page 146 |
Page 147 |
Page 148 |
Page 149 |
Page 150 |
Page 151 |
Page 152 |
Page 153 |
Page 154 |
Page 155 |
Page 156 |
Page 157 |
Page 158 |
Page 159 |
Page 160 |
Page 161 |
Page 162 |
Page 163 |
Page 164 |
Page 165 |
Page 166 |
Page 167 |
Page 168 |
Page 169 |
Page 170 |
Page 171 |
Page 172 |
Page 173 |
Page 174 |
Page 175 |
Page 176 |
Page 177 |
Page 178 |
Page 179 |
Page 180 |
Page 181 |
Page 182 |
Page 183 |
Page 184 |
Page 185 |
Page 186 |
Page 187 |
Page 188 |
Page 189 |
Page 190 |
Page 191 |
Page 192 |
Page 193 |
Page 194 |
Page 195 |
Page 196 |
Page 197 |
Page 198 |
Page 199 |
Page 200 |
Page 201