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<br />City of Ramsey <br />MASTER HOUSING PLAN <br /> <br />------..---------------------------------------------------------------------------------- <br /> <br />construct apartments and tIns trend is likely to continue particularly with the downtum in the <br />housing market for ownership units. With only 4% of the total housing stock as rental, Ramsey is a <br />strong market for new apartment living. <br /> <br />Figure 3: Owner/Renter Mix in Surrounding Communities <br /> <br />Owner/Renter Mix <br /> <br />. Owner Occupied % . Renter Occupied % <br /> <br />96% <br /> <br /> <br /> <br />'UI'J~, t <br /> <br />39"- 91% 97% 92% <br /> <br /> <br /> <br />'i.; I: '~.. '~~J: t I~J. "~I <br /> <br />...... <br />~-..; <br />'1).-0 <br /> <br />.::;? <br />~.....o <br /> <br />c- <br />o" <br />~~ <br /> <br />,..'" <br />",0 <br />\" <br /> <br />~-$' <br /><i'"~ <br />(5"'" <br /> <br />,,*"'"1> .b'"' S.e <br />o.....~'? ~"b'<.... e,3-0 <br /> <br />oov .....'b~ <br /><.; <..,~ <br /> <br />c:'" <br />~<; <br />",<:0 <br />'<' <br /> <br />," <br />~ooJ- <br /> <br />CC '.:<t-e. <br />s:-o"l. \,,7;- <br />'f''b ~4Qc~ <br />~~~ <br /> <br />Source: 2000 Census <br /> <br />Why is Rental Housing Important? <br /> <br />Adequate opportunities for safe, decent and affordable rental housing are a key component of a <br />balanced housing supply. There are many reasons why an individual and/or family choose to rent <br />rather than o\vn. Those choices may be short teml due to financial issues (unable to afford a <br />mortgage, need to save for a down payment, clear up credit issues), family issues (divorce, <br />separation, job relocation) or social issues (disability, in-between home ownership, not secure in <br />job, unsure on location preference). Also, many people choose a life of renting rather than owning <br />due to income, transitional careers, traveling and aging. For all these reasons, a community should <br />consider the benefits of providing a wide range of living choices wInch includes rental housing. <br /> <br />February 2008 <br /> <br />City of Ramsey Alaster Housing Plan <br /> <br />Page 5 <br />