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City of Ramsey 2030 Comprehensive Plan Update <br />Chapter 7: Housing Plan <br />Tenure <br />As of 2007, there were approximately 300 rental units within Ramsey, or about 4% of the total number of <br />housing units. In 2003, the City enacted a rental licensing requirement to ensure the quality of rental units <br />and improve the ability of the City to track rental housing. This program tracks known units of rental housing <br />within the City and conducts inspections every two years as a part of the licensure process. Of the 300 units, <br />approximately one-third are located within apartment -style buildings. The remaining units are dispersed <br />throughout townhome and single-family developments within the city. <br />Comparing the owner/renter mix of housing with other communities using 2000 census data, Ramsey's <br />housing is primarily owner -occupied (97%) with very few rental units. This is a substantially higher <br />percentage than Anoka County which has 83% owner occupied units and 17% rental housing overall. <br />Ramsey has a smaller percentage of rental housing than all except seven incorporated cities in the <br />metropolitan area, according to the 2000 Census. However, many cities in the northwest metro have similar <br />ownership -to -rental ratios. Andover, Lino Lakes, and Ham Lake have very little rental housing but compared <br />to other similar cities, Ramsey has the smallest percentage of rental units. Currently, a 63 unit apartment <br />building is being constructed called Terrace Hill. In the past several years there has been an increase in <br />developer interest for sites to construct apartments and this trend is likely to continue particularly with the <br />downturn in the housing market for ownership units. With only 4% of the total housing stock as rental, <br />Ramsey is a strong market for new apartment living. <br />Figure 3: Owner/Renter Mix in Surrounding Communities <br />Owner/Renter Mix <br />• Owner Occupied % _ Renter Occupied <br />96% 89% 31% 97% 92% <br />71% 83% 75% 80% 78% 74% <br />56% <br />4% <br />9% 7% 1.1: <br />li <br />0% 21 6% <br />L▪ _% ▪ _ 3% <br />cam,. oma' Jet oma �`cm `ate o�Q yeJ et' e¢ awe <br />'V F-.- <br />Pr P�aQ P� CraA.b `? CP .:.`•• <br />`iv��` SL -7' S.- cis 4;t.st- <br />�e�e95. <br />C,o �c'` <br />Source: 2000 Census <br />Why is Rental Housing Important? <br />Adequate opportunities for safe, decent and affordable rental housing are a key component of a balanced <br />housing supply. There are many reasons why an individual and/or family choose to rent rather than own. <br />Those choices may be short term due to financial issues (unable to afford a mortgage, need to save for a <br />down payment, clear up credit issues), family issues (divorce, separation, job relocation) or social issues <br />(disability, in-between home ownership, not secure in job, unsure on location preference). Also, many people <br />choose a life of renting rather than owning due to income, transitional careers, traveling and aging. For all <br />these reasons, a community should consider the benefits of providing a wide range of living choices which <br />includes rental housing. <br />City of Ramsey 2030 Comprehensive Plan Page 7-4 <br />