City of Minnetonka Demographics and Housing Analysis to Evaluate Potential Market Leakage
Title
City of Minnetonka Demographics and Housing Analysis to Evaluate Potential Market Leakage
Published Date
2012
Publisher
Resilient Communities Project (RCP), University of Minnesota
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Presentation
Report
Report
Abstract
This project was completed as part of the 2012-2013 Resilient Communities Project (rcp.umn.edu) partnership with the City of Minnetonka. Homes in Minnetonka are more expensive on average than homes in surrounding communities, and the City was interested in the potential "market leakage"--that is, purchasers looking to buy a home in the Minnetonka area but ultimately choosing to buy in a neighboring community--for mid-priced housing. Minnetonka project lead and community development supervisor Elise Durban worked with a team of students in HSG 5464: Understanding Housing Assessment and Analysis, to conduct a demographic and market analysis for Minnetonka. The students discovered that Minnetonka is an expensive area in which to live, many residents commute out of the city, and many older residents wish to age in place. Based on this information, the students recommended that Minnetonka look to build smaller, more affordable homes that might appeal to a range of buyers. The students' final report and presentation are available.
Description
Report and presentation completed by students enrolled in HSG 5464: Understanding Housing Assessment and Analysis, taught by Jessica Deegan in fall 2012.
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This project was supported by the Resilient Communities Project (RCP), a program at the University of Minnesota whose mission is to connect communities in Minnesota with U of MN faculty and students to advance local sustainability and resilience through collaborative, course-based projects. RCP is a program of the Center for Urban and Regional Affairs (CURA). More information at http://www.rcp.umn.edu.
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