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A Metropolitan Council <br />AI <br />Regional Benchmarks <br />Measuring Our Progress <br />2011 Update <br />1. Accommodatin • Growth <br />• Housing Construction <br />2000 Baseline: <br />2030 Target: <br />2010 Actual: <br />1,047,240 housing units <br />1,537,000 housing units <br />1,186, 986 housing units <br />To house the forecasted population <br />and household growth, the region will <br />need to add nearly 490,000 housing <br />units between 2000 and 2030. The <br />original benchmark anticipated that <br />18,000 units per year would be <br />necessary in the 2000-10 decade while <br />slowing growth rates by the 2020-2030 <br />decade would make 16,000 units per <br />year sufficient. <br />In the first half of this decade, housing <br />stock gains surpassed the annual <br />benchmark, reaching a peak with <br />2004's units permitted and 2005's net Target Range New Units Permitted • Net Growth <br />growth. Though the slowdown in <br />permitting began in 2005, average net housing production from 2001 to 2006 was nearly 18,500 <br />units per year. Over the last four years, however, average net housing production fell by more <br />than half to 7,448 units per year with 2010 at 5,250 units, just 24 percent of 2005's production. <br />New housing units permitted rose slightly to 5,761 units in 2010, the third lowest in the 40 years <br />the Council has monitored building permits in the region. <br />Housing Unit Production <br />Target: <br />16,000 -- <br />18,000 units <br />2001 2002 2003 2004 2005 <br />2006 2007 2008 2009 2010 <br />On average, 13,502 housing units were added annually over the period, below the long-range <br />goal of 16,000 to 18,000 units. Had housing growth remained at the torrid pace seen earlier in <br />the first half of the decade, the region would have added an additional 33,000 units over the last <br />four years. <br />Note: Net growth estimates reflect: estimated completions of the previous year's permitted units; conversions of non- <br />residential structures into housing; units moved in or out of a community; units annexed in and out of a community; <br />housing demolitions; and housing units converted into non-residential structures. <br />Source: Metropolitan Council Research <br />2 <br />