Laserfiche WebLink
3. Housing Characteristics <br />This section provides an overview of housing trends in Louisville relative to Boulder County <br />and other comparison geographies to better understand local market conditions and their <br />implications. This section includes: <br />■ An overview of existing housing stock, including total housing units, housing unit mix, <br />vacancy rates, and affordable housing development. <br />■ Residential development trends from City permit data. <br />■ Housing market trends, including home sale and rental prices. <br />■ Housing affordability trends, including financial attainability and cost burdening rates <br />for renters and homeowners. <br />Existing Housing Stock <br />Key findings include: <br />■ With the exception of Boulder, the majority of housing in Louisville and comparison <br />geographies is single-family detached housing. However, the housing stock has become <br />more diverse since 2011 with an increased in multifamily housing units. <br />The majority of Louisville homeowners live in single-family detached units, while the <br />majority of renters live in multifamily housing. <br />From 2011 to 2021, the share of units labeled vacant due to being "for rent" increased by <br />58%, which could indicate that available rental stock is not attainable or appropriately <br />sized for renter households in the area. The share of vacant units labeled as being vacant <br />"for sale" dropped from 15% to zero, likely a reflection of a constrained housing market <br />as median homeowner incomes increased over the time period. <br />Total Housing Units <br />As of 2021, Louisville had 8,665 housing units, representing just over 6% of total housing units <br />in the County. Of comparison cities, Boulder has the highest number of housing units, <br />representing roughly 33% of housing units in the County. <br />ECONoahwest 32 <br />M <br />