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901 N. 3rd Street, Suite 150 1 Minneapolis MN 55401 <br />1 [JC�9'o 89%86% <br />Below <br />$20,000 <br />Anoka County shows an even larger proportion of the population <br />experiencing a housing cost burden, causing many to fore go <br />other basic needs, such as food.' <br />Proportion of Households Paying 30% or <br />More of Income for Housing, <br />Anoka County <br />79% <br />$20,000- <br />$34,999 <br />46` 48% <br />• Renters <br />Owners <br />15% <br />8% <br />$.5,000- Over All income <br />$49,999 $50,000 levels <br />50% <br />Wages for jobs in demand are often insufficient to cover the <br />cost of housing, increasing the burden on the household. The <br />median income earning for the top five jobs in demand in <br />Minnesota to not cover all of the housing costs. <br />$100,000 — <br />$80,000 <br />$60,000 — <br />$40,000 — <br />$20,000 — <br />$0 — <br />Housing Affordability by Occupation, <br />Anoka County <br />a o <br />N <br />"' <br />2 ▪ • m C 0 <br />.42 N Q 'a a c <br />o Z D �n N Q <br />• 4 ex <br />vi <br />vo <br />D <br />Z� <br />Needed to <br />own <br />median <br />home <br />Needed to <br />rent 2BR <br />apartment <br />In addition to the top five jobs in demand for Minnesota, <br />Ramsey is also home to many manufacturing companies. The <br />average starting hourly wage for a general laborer is $13.50 per <br />hour. This equates to an annual salary of $28,080. According to <br />the chart above, 79% of these individuals are experiencing <br />challenges when it comes to the cost of housing. <br />Aeon's proposed project includes housing options for individuals <br />and families experiencing this cost concern. Our population will <br />be targeted to households making between $28,000 and <br />$65,000 per year, depending on household size. Our apartment <br />homes are the starting point for many families looking to build <br />long term rooms in a community and work in area businesses. <br />2http://www. m h pon I in e.org/i mages//stories/does/research/cou ntyprofiles/2015_rev/Anoka_Rev. pdf <br />