Open Space Ratio
When talking about the open space ratio we are referring to a term that is used in zoning laws and regulations. The open space ratio is a term used to measure open space on a developed land or zoning lot. The open space ratio is calculated in the percentage of open space in the building's square footage. For example, a housing subdivision containing 100 acres has devoted 10 acres to open space. Therefore, the open space ratio is 1/10 or 10 percent (10/100). Or an office building of 10,000 square feet with an open space ratio of 20% will have 2,000 square feet designated to remain open space.
Open Space Ratio in Residential Real Estate
The term open space ratio is a concept that applies to residential developments, and it usually refers to commonly used open space. While not necessarily a way to determine the ratio of “green” open space on lots of land proposed for residential development. The term open space ratio can refer to two types of open space:
- Allowable Areas
Allowable open space are the areas that are required common areas to be maintained and remain undeveloped for the benefit of those living or working on the lot parcel: parking lots, yard requirements, floodplains, recreational areas, stormwater management systems, etc.
- Prohibited Areas
Prohibited open space areas are privately owned sites that are not accessible for those living or working on the lot parcel and that are also available for further structural developments.
How is Open Space Ratio Calculated?
The open space ratio is a zoning law used by municipalities to be able to control the types of buildings built, their height, and their ratio of open space. It is a means for municipalities to ensure that the open space available on a developed land makes up a certain percentage of the lot developed. In most cases, that requirement is of a 20% open space ratio.
Open Space Ratio Formula:
Open Space Ratio (OSR) = Commonly-owned Open Space / Total Area Proposed for Development
So if you have 12 acres available for residential development and you have 6 acres of commonly-owned open space (ponds, recreation area, parking area, buffers, etc) you will have an open space ratio of 50%.
Popular Real Estate Terms
Use of a parcel of land that will produce the greatest current value. ...
Style of life emphasizing outdoor activities, amenities, and recreation. Example are campers and barbecues. It is usually on a short-term basis. ...
The assessment sales ratio is a way of measuring the accuracy of a property’s assessed value when compared to the property’s selling price. This measurement gives the ...
Visible area that can be readily seen by outside traffic. This is particularly important for a commercial business. ...
Unsecured long-term debt. There is no collateral or lien on the property. A debenture can only be issued by a financially sound borrower with an excellent credit rating because no ...
An acre is defined as a land unit that is commonly used in the US customary and imperial systems of 66 by 660 feet (one chain by one furlong). An acre is a measure of volume used in many ...
Outside layer or covering for a structure. It may be a coating of material for protection against inclement weather. ...
Excess of money or fair value of property received on sale or exchange over the carrying value of the property. An example is the sale of a building when the cash received exceeda its ...
To depreciate is to lose value for something. Depreciation is the act of losing worth.Connecting with real estate, Property depreciation can be both an accounting method typically used to ...

Have a question or comment?
We're here to help.