Agenda - Parks and Recreation Commission - 04/10/2014

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City of Ramsey 2030 Comprehensive Plan Appendix A: Community Background Metropolitan Age Distribution Housing markets are greatly affected by the age distribution of the population. During the 1970s and 1980s, the Baby Boom generation swelled the size of the group ages 18 to 34, placing exceptional pressure region -wide on the demand for multifamily rental housing (Figure 3-5). During the 1990s and 2000s, the impact of the Baby Boom generation is being felt on the demand for single-family housing as they swell the size of the group ages 35 to 54. In the coming decades, the Baby Boom generation will likely place tremendous pressure on a variety of multifamily products as they dramatically increase the proportion of the population age 65 and older. Figure 3-5 - Age Distribution Pct. of Population 100% Age Distribution of the Population 16 -County Twin Cities Region 1960-2030 ■ 80% - 60% - 40% - 20% - 0% • 1960 1970 1980 1990 2000 2010 2020 Sources: US Census of Population: 1960-2000; M N Dept. of Admin.: State Demographic Center; WI Dept. of Adnin.: Demographic Services Center. 2030 • 75+ ❑ 65 to 74 ■ 55 to 64 ■ 45 to 54 ■ 35 to 44 25 to 34 ❑18to24 ■ 5 to 17 • Under 5 Another way of characterizing the impact of age distribution on the housing market is to simply look at the net increase in the number of persons by age group from decade to decade. Figure 3-6 helps illustrate the volume of people during the 1980s and 1990s that entered the age groups in which single-family homeownership is most common. Conversely, the chart also displays the projected increase in the number of persons age 65 and older starting in 2010, which is when many households begin to switch to multifamily forms of housing. City of Ramsey 2030 Comprehensive Plan Appendix A-11