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ANOKA COUNTY HOUSING STUDY CONCLUSIONS <br />Blaine, Circle Pines, & Lexington Submarket Recommendations <br />Blaine, Circle Pines, & Lexington experienced the strongest growth (numerically) last decade <br />and is forecast to continue to be the growth leader in the County through 2020. Over the next ten <br />years, this submarket is projected to add 5,480 households (+22.3%), which is approximately <br />30% of the total household growth projected for Anoka County overall. Strong household <br />growth is anchored by equally strong employment growth. Over the next decade, employment <br />growth is forecast for 4,780 jobs - the highest numerical growth in the County. <br />Although less than 20% of the population is age 55+, Blaine, Circle Pines, & Lexington has the <br />third highest numerical concentration of seniors in the County. Existing senior housing product <br />has been strongly performing in the submarket and significant new construction activity is <br />identified in the pipeline. The guiding housing priority in Blaine will be to develop a variety of <br />housing products across the product and price point spectrum so that housing supply will meet <br />demand from the growing, diverse household base. <br />BLAINE, CIRCLE PINES, & LEXINGTON SUBMARKET SUMMARY <br />Blaine, C.P., & Lexington <br />Anoka County <br />Population (2000 / 2010 / 2020) <br />Households (2000 / 2010 / 2020) <br />Household Growth (2010 to 2020) <br />Median Household Income (2010) <br />Pct. Population Age 55+ (2000 / 2015 / 2020) <br />Homeownership Rate (2010) <br />51,819 - 67,405 - 79,485 298,189 - 344,250 - 387,445 <br />18,442 - 24,615 - 30,095 106,476 - 125,470 - 144,140 <br />5,480 18,670 <br />13.4% <br />$76,092 <br />18.5% - 23.8% <br />98.2% <br />15.0% <br />$74,497 <br />19.6% - 24.6% <br />84.4% <br />For -Sale Housin <br />Median single-family home resale price (2010) <br />Median townhome resale price (2010) <br />Average number of new construction units closed annually <br />Existing vacant developed lots (3rd Quarter 2010) <br />Ratio closings to vacant developed lots (2006 / 2008 / 2010) <br />$190,000 <br />$140,000 <br />395 <br />1,216 <br />0.63 - 0.18 - 0.28 <br />$167,000 <br />$126,000 <br />1,095 <br />3,504 <br />0.53 - 0.23 - 0.21 <br />General Occu .anc Housin <br />Distribution and vacancy rate of rental units by type <br />Market rate <br />Shallow subsidy <br />Deep subsidy <br />Average rent for market rate unit <br />Average square footage for market rate unit <br />Average rent per square foot <br />886 <br />130 <br />43 <br />$888 <br />782 <br />$1.14 <br />2.6% <br />7.7% <br />0.0% <br />7,251 <br />632 <br />418 <br />$926 <br />836 <br />$1.11 <br />4.7% <br />4.5% <br />0.0% <br />Distribution and vacancy rate** of senior housing units by type <br />Affordable active adult <br />Market rate active adult - rental <br />Market rate active adult - ownership <br />Congregate <br />Assisted living <br />Memory care <br />128 5.5% 1,172 <br />287 1.0% 1,049 <br />0 -- 240 <br />0 -- 490 <br />102 5.1% 555 <br />13 0.0% 164 <br />0.8% <br />5.6% <br />3.0% <br />2.2% <br />0.9% <br />0.0% <br />MAXFIELD RESEARCH INC. <br />116 <br />