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City of Ramsey MASTER HOUSING PLAN ------------------------------------------------------------------------------------------ This trend is typical of the metropolitan area, and will have a significant impact on the type of housing that will be in Ramsey in the future. Empty-nesters and pre-retirees often seek to downsize their living space and seek lower maintenance housing options. The demand for association- maintained and one-level living will only increase over the next twenty years in Ramsey as these age groups desire different housing styles. However, it is also important to remember that some empty-nesters and seniors will desire to stay in their existing home, and over time may require assistance to do so. Ramsey will need to continue diversifying its housing stock in order to stay competitive in attracting new residents to the City, and retaining existing residents as they move into different life cycles. Figure 7 indicates the differences between Ranlsey and the overall metropolitan area. Ramsey has a substantially smaller percentage of seniors than the region as a whole, which could be attributed to the lack of housing options. This will change though as Middle Adults and Older Adults transition into older age categories - meaning that demand for lower-maintenance, more accessible housing will increase in the city. Figure 7: Ramsey Residents Within Life Cycles (Percentage) Percentage of Residents Within Housing Life Cycles 5% 35% - 33% 32% I--- --"'--- I-- 26% - - 23% '. .---- 21% I- - o Ramsey i o Region - - Q'/. 10% .---- 7% .---- - ~I 3% I 40% 35% 30% 25% 20% 15% 10% 0% Children o to 17 Young Adults 18 to 24 Middle Adults 25 to 44 Older Adults 45-64 Seniors 65+ February 2008 City of Ramsey A1asfer Housing Plan Page 13