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ANOKA COUNTY HOUSING STUDY KEY FINDINGS <br />6. The median resale price of a single-family home in Anoka County was $167,000 in 2010. <br />For multifamily housing, the median resale price was $126,000. Both housing products <br />appreciated through 2005 but have since depreciated to price levels close to those of <br />2000. Over the decade, the median resale price of single-family homes increased +8.8% <br />and multifamily homes increased only +1.9%. <br />7 Absorption of existing vacant developed lots will meet initial demand for for -sale <br />housing products in the near term. A total of 2,410 vacant developed single-family lots <br />and 1,095 vacant developed multifamily lots were identified. <br />8. Demand for housing in Anoka County will be generated from household growth and <br />replacement/rehabilitation needs of the existing housing stock. Over the decade, total <br />demand for general occupancy housing is calculated for 18,165 units. Specifically, <br />demand is calculated for 14,805 general occupancy for -sale units (10,060 single-family <br />units and 4,745 multifamily units) and 3,360 general occupancy rental units. <br />9. Total general occupancy housing demand by submarket from 2010 to 2020 is calculated <br />as follows: <br />• Blaine, Circle Pines, & Lexington <br />• Ramsey <br />• Lino Lakes & Centerville <br />• Andover <br />• East Bethel & Bethel <br />• Southern Leg <br />• St. Francis <br />• Ham Lake <br />• Oak Grove & Nowthen <br />• Anoka <br />• Linwood & Columbus <br />• Coon Ranids <br />Total <br />= 5,215 units (29% of County) <br />= 3,520 units (19%) <br />= 1,775 units (10%) <br />= 1,595 units (9%) <br />= 1,535 units (8%) <br />= 1,110 units (6%) <br />= 865 units (5%) <br />= 735 units (4%) <br />= 690 units (4%) <br />= 500 units (3%) <br />= 430 units (2%) <br />= 195 units (1%1 <br />= 18,165 units <br />10. Demand is somewhat understated in areas with low household growth forecasts. These <br />areas — particularly those along the southern border of the County — are nearly built out <br />and have limited land available to accommodate new housing. Parcels will need to be <br />redeveloped in order to build additional housing units; as these parcels become available, <br />greater demand will be realized. <br />11. Meeting the unique housing needs of the aging senior population will be a key housing <br />priority in Anoka County over the next decade. Without accounting for any pending <br />developments, the following details excess demand by service level in 2020 for Anoka <br />County overall: <br />• Affordable/subsidized adult rental = 445 units <br />MAXFIELD RESEARCH INC. 2 <br />