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Figure 20:Components of the housingelement of local comprehensive plans <br />Existing housing Projected affordable Implementation <br />needshousing needsprogram <br />•Existing housing •Allocation of affordable •Public programs, fiscal <br />assessmenthousing needdevices, and specific <br />actions to meet <br />•Identification of needs •Promoting the <br />existing and projected <br />and prioritiesavailability of land <br />needs <br />Existing housing needs <br />Under the Metropolitan Land Planning Act, local comprehensive plans must include a housing element <br />that addressesexisting housing needsin the community.The existing housing assessment serves as <br />the starting point to determine a community’s existing housing needs. Complete housing elements <br />analyze the existing housing assessment through the lens of local knowledge and priorities, identifying <br />clear, specific housing needs to be addressed in the housing implementation program. Complete <br />housing elements must contain anassessment of existing housing, including at minimum: <br />Number of existing housing units within the three bands of affordability: <br />30% or less of Area Median Income (AMI) <br />o <br /> Between 31% and 50% AMI <br />o <br /> Between 51% and 80% AMI <br />o <br />Splitof rental and ownership housing <br />Split of single-family and multifamily housing <br />Units of publicly subsidized housing <br />Number of existing households at incomes at or below 80% AMI that are experiencing housing <br />cost burden <br />A map of owner-occupied housing units identifying their assessed values, differentiating the <br />values above and below what is affordable to a family of four at 80% AMI(see Table 8) <br />This minimum information is both easily available and informative about existing housing needs. While <br />the Council will provide communities with basic data for their existing housing assessments, the Council <br />encourages communities to include any additional reliable data that enhance their existing housing <br />assessments. <br />Table 8: Affordable home prices by household income(2013) <br />Household Income ThresholdHousehold Income for a family Affordable Home Price iv <br />of four(2013) <br />115% of area median income <br />$94,650$325,000 <br />80% of area median income <br />$64,400$217,000 <br />50% of area median income$41,150$133,000 <br />30% of area median income <br />$24,700$74,000 <br />Page - 10|METROPOLITAN COUNCIL <br /> <br />