Submarkets Submarket 5
- Experienced the greatest net gain in housing units, nearly half of which were multifamily
- Experienced the greatest relative increase in single family rentals
- The neighborhoods in this Submarket are exhibiting home sale price increases similar to that of the region as whole
Median Home Sale Price (2018)
$246,000
+34.8% since 2013
Home Sale Price Per Sq. Ft (2018)
$138.31 per sq. ft.
+40% since 2013
Median Building Area
1,856 sq. ft.
TOP STRATEGIES FOR Submarket 5
Increase Supply
Preserve Affordable Supply
Reduce Housing & Transportation Costs
Expand Capital Resources
Promote Housing Stability
Develop Leadership & Collaboration on Affordability
Increase Supply –
Reduce Development Cost and Barriers
Address zoning and land use code that shapes development to provide housing options, including land use options, building sizes, building materials, building forms, parking, and more.
- Implement zoning to allow for increases in residential density by reducing setbacks, minimum square footage requirements and allowable housing types. Resources:
- Audit and reform construction standards and building codes to get rid of excessive or obsolete standards and codes. Resources:
Increase Supply –
Leverage Public Land
Diversify the ways that publicly-owned land is used and managed to provide housing affordability options.
- Donate land or participate in joint development of identified residential development sites to increase affordable housing. Resources:
Increase Supply –
Establish Policies Supporting Affordable Housing
Enact various policies to enable and require affordable housing in new development.
- Implement Inclusionary housing ordinance to include a percentage of units affordable to lower-income residents. Resources:
Preserve Affordable Supply –
Create Policy Incentives
Preserve existing housing supply with policy incentives to make it easier and more affordable to protect existing housing units.
- Provide a by-right density bonus for redevelopment of low-density affordable projects which maintain affordability. Resources:
Preserve Affordable Supply –
Coordinate Across Agencies and Among Governments
Engage in robust coordination efforts between different levels of government and across various state and local agencies to create, manage, and maintain existing affordable units.
- Conduct an inventory of existing affordable stock (Naturally Occurring Affordable Housing (NOAH) and subsidized) and create a watchlist of at-risk properties. Resources:
Reduce Housing & Transportation Costs –
Implement Community Development Strategies
Allow opportunities for housing within a half-mile to mobility options, jobs, and services.
- Undertake a local housing plan to identify unique set of assets and challenges. These plans should include market analysis to help guide communities toward market-feasible development. Resources:
- Engage in joint Comprehensive and Zoning rewrites in order to coordinate efforts and implement visions. Resources:
Reduce Housing & Transportation Costs –
Expand Transportation Options
Leverage existing transportation options and create new ones to lower transportation cost and reduce traffic.
- Conduct Transit feasibility studies to extend either bus or rail. Resources:
Develop Leadership & Collaboration on Affordability –
Build Internal Resources to Address Housing
Expand internal capacity to address housing needs.
- Expand local government housing staff and advisors on housing issues. Resources:
- Encourage Elected and appointed officials to participate in community development trainings. Resources:
Develop Leadership & Collaboration on Affordability –
Promote Creative Collaboration
Collaborate across various industries, sectors, and organizations to create multi-disciplinary approach to provide housing options.
- Create and facilitate a local housing task force to understand jurisdictional issues and opportunities. Resources:
- Encourage major employers to participate in Employer Assisted Housing programs. Resources:
