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ANOKA COUNTY HOUSING STUDY CONCLUSIONS <br />Ham Lake Submarket Recommendations <br />Located in central Anoka County, Ham Lake is a low -density community that has ample land <br />available to accommodate new housing. Over the next decade, household growth is forecasted <br />for 850 households (+16.2). The median resale price of single-family homes in Ham Lake is <br />higher than in Anoka County overall due to single-family homes that have large lot sizes and <br />acreage. As development continues in Ham Lake, smaller lot sizes will become acceptable. <br />Although the percentage of older adults and seniors in Ham Lakes is the same as in the County <br />overall (19.6%), sufficient demand does not exist to support additional senior housing in Ham <br />Lake. Instead, for -sale single-family homes will continue to dominate the housing stock. Over <br />the next decade, approximately 70% of new housing units demanded will be for -sale single- <br />family homes. For -sale townhomes and/or twinhomes will also be successful in Ham Lake. <br />Later in the decade, demand for rental product may build to a level that could support a <br />moderately priced market rate rental community. <br />HAM LAKE SUBMARKET SUMMARY <br />Ham Lake <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 />12,710 - 15,575 - 17,375 298,189 - 344,250 - 387,445 <br />4,139 - 5,240 - 6,090 106,476 - 125,470 - 144,140 <br />850 18,670 <br />$92,118 <br />11.8% - 19.6% <br />100.0% <br />26.8% <br />15.0% <br />$74,497 <br />19.6% <br />84.4% <br />24.6% <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 />$219,900 <br />$291,715 <br />39 <br />244 <br />0.29 - 0.12 <br />$167,000 <br />$126,000 <br />1,095 <br />3,504 <br />0.11 0.53 - 0.23 - 0.21 <br />General Occu . ancy 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 />0 <br />0 <br />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 />0 <br />99 <br />0 <br />0 <br />0 <br />0 <br />1.0% <br />1,172 <br />1,049 <br />240 <br />490 <br />555 <br />164 <br />0.8% <br />5.6% <br />3.0% <br />2.2% <br />0.9% <br />0.0% <br />MAXFIELD RESEARCH INC. <br />123 <br />