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<br />HOUSING NEEDS ANALYSIS <br /> <br />· In the general occupancy market segment, traditional ownership products such as townhomes <br />and twinhomes have been largely preferred to condominium-style product. We estimate this <br />preference will continue with 90% of demand for townhome units and 10% of demand for <br />condominium units among the for-sale housing segment. Demand is calculated for 151 af- <br />fordable townhome units and 17 affordable condominium units over the next five years <br />in Ramsey. <br /> <br />TABLE HN-1 <br />GENERAL OCCUPANCY WORKFORCE HOUSING DEMAND <br />CITY OF RAMSEY <br />2009 to 2014 <br /> <br /> <br />Projected household growth in Ramsey' <br /> <br />Projected household growth in the remainder of the PMA 1 <br />(times) Pct. of household growth capturable in Ramsey <br />(equals) Projected HH growth in remainder PMA capturable in Ramsey <br /> <br />Projected household growth in the SMA' <br />(times) Pct. of household growth capturable in Ramsey <br />(equals) Projected HH growth in the SMA capturable in Ramsey <br /> <br />Total potential housing demand in Ramsey <br /> <br />(times) Pct. of household growth for general occupancy housing2 <br /> <br />x <br /> <br />1,400 <br /> <br />1,090 <br />25% <br />273 <br /> <br />2,410 <br />10% <br />241 <br /> <br />1,914 <br /> <br />65% <br />1,244 <br /> <br />x <br /> <br />x <br /> <br />(times) Estimated percentage of income-qualified households' <br />(equals) Total potential affordable housing demand in Ramsey <br /> <br />x <br /> <br />30% <br />373 <br /> <br /> <br />(times) Estimated percentage of demand for new affordable for-sale multifamily units4 <br />(equals) Demand for new affordable for-sale multifamily units from Ramsey residents <br /> <br />(times) Percentage of demand by product type <br />(equals) Excess demand for new affordable for-sale units in Ramsey <br /> <br />x <br /> <br />(times) Estimated percentage of demand for new affordable rental units4 <br />(equals) Demand for new affordable rental units from Ramsey residents <br /> <br />(less) New/pending affordable rental units in Ramsey <br />(equals) Excess demand for new affordable rental units in Ramsey <br /> <br />x <br /> <br />35% <br />131 <br /> <br />o <br />131 <br /> <br /> <br />1 Estimated household growth based on Metropolitan Council forecasts, 2009 to 2014. <br />2 Pet. demand for general occupancy housing only. Senior housing demand presented in separate calculations. <br />3 Income-qualifications based on percentage of households belowMHFA's 80% AMI for a 3 pp/hh. <br />4 Pet. owner/renter households by income for HHs age 6S and younger (U.S. Census - 2000). <br /> <br />Source: Maxfield Research Inc. <br /> <br />MAXFIELD RESEARCH INC. <br /> <br />