APPROACH
TASK 2: Rental Housing Market
Analysis
Task 2.1 Supply-Side Analysis
An analysis of the primary and secondary residential
market conditions is a necessary foundation for a supply
and demand analysis. RKG will conduct an analysis of
the residential real estate supply in the area, including
an inventory and analysis of current renter-occupied
real estate assets. RKG will work with local data
sources, such as the property assessment database, as
well as primary and secondary data (i.e. online rental
listings, interviews with management companies, etc.)
that are collected from previous studies and RKG’s
efforts. The analysis will identify housing availability by
type, pricing, amenities (as appropriate), occupancy, and
location.
RKG will also create a set of rental housing profiles by
product type which will describe general conditions,
locations in the community, average rent rates, average
year of construction, size and scale, etc. These one-page
cut sheets can be used by the City to better understand
the current stock of rental housing, pricing, general
condition, and locations across the community.
Task 2.2 Demand-Side Anaiysis
To complement the supply-side real estate analysis, RKG
will gather information on the current demand for rental
residential housing. RKG will evaluate various demand
indicators, including, but not limited to: existing
demographic and income data, current employment
and wage data, and recent employment growth trends.
This effort will provide a detailed analysis of the relative
demand for rental housing at various income levels.
TASK 3; Owner Occupied Housing
Market Analysis
Task 3.1 Supply-Side Analysis
RKG will conduct an analysis of the residential real
estate supply in the area, including an inventory and
analysis of current owner-occupied real estate assets.
RKG will work with local data sources, such as the
property assessment database, as well as primary and
secondary data (e.g. MLS, interviews with brokers, etc.)
that are collected from previous studies and RKG’s
efforts. The analysis will identify housing availability by
type, pricing, occupancy, sales activity, days on market,
and location,
RKG will also create a set of owner-occupied housing
profiles by product type describing general conditions,
locations in the community, average sale prices, average
year of construction, size and scale, etc. These one-page
cut sheets can be used by the City to understand the
current stack of ownership housing, pricing, general
condition, and locations across the community.
RKG will also use property assessment data to better
understand how the City built out over time and where
older homes may be clustered creating potential for
long-term maintenance issues. We have found in other
studies this information can help target strategies,
funding, and programs to address problem properties
today or issues in the coming years. This might include
lead paint remediation or addressing structural issues.
Task 3.2 Demand-Side Analysis
To complement the supply-side analysis, RKG will
gather information on the current demand for owner-
occupied housing. RKG will evaluate various demand
indicators, including, but not limited to: existing
demographic and income data, current employment
and wage data, and recent employment growth trends.
This effort will provide a detailed analysis of the relative
demand for ownership housing at various income levels.
RKG Associates
