2. MetroCOG workforce housing study

income limit is based upon household size; less than $22,750 (I-person), or $26,000 (2-persons) or $29,250 (3-persons) and $32,500 (4-persons). Survey of the Supply of Housing For Sale For-sale housing subdivision developments with 10 or more lots/units built during the past 10 years were surveyed in each of the five submarkets. Smaller subdivisions were identified in markets with limited new single-family products. A total of 58 subdivisions were identified. These subdivisions have been platted in the past five years and contain 8,636 lots. Of the 58 subdivisions, 45 are being actively marketed and 13 are sold out. For purposes of this analysis, a "sold lot" represents a sale to the end user, e.g., the homeowner. From 2002-2005, a total of 3, 116 building permits were issued for an average of 779 lots each year. The average absorption rate, in the 45 active subdivisions, is 22 new homes sales per year, or 1.8 sales per month. Over three of every four active subdivisions had buried utilities and just fewer than three of four has curbs/gutters and sidewalks. Eight often active subdivisions have streetlights. Landscaped entryways are below average with little or no landscaping. The average lot size is 11,165 square feet, with 65 lineal feet of frontage. This is just over a quarter-acre. Approximately 5% of the subdivisions feature wooded settings, 3% have a waterfront location and 2% are on a golf course. Field Survey of Condominiums A total of 17 condominium developments were identified. These developments contained 758 units, of which four developments (with 292 units) are sold out. The remaining 13 projects contain 466 units, of which 287 are available. Since 2003, 471 condominium units have been sold, an average of 157 each year. The average per month sales rate of 5.26 units is considered to be a slow absorption rate. However, The Danter Company notes that absorption has been limited by construction delays. 12 Linda S. Donnelly. A.I.e.I'. August 200(,