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ANOKA COUNTY HOUSING STUDY CONCLUSIONS <br />Linwood & Columbus Submarket Recommendations <br />Located in the northeast corner of Anoka County, Linwood & Columbus is a low -density <br />submarket that will experience moderate growth (+14.4%) with the addition of 465 households <br />by 2020. Linwood & Columbus has limited employment and instead serves as a residential area <br />for workers commuting to nearby concentrations of employment, including to jobs located in <br />more developed areas of southern Anoka County. <br />Although the percentage of older adults and seniors in Linwood & Columbus (22.8%) is higher <br />than the County overall, sufficient demand does not exist to support senior housing in Linwood <br />& Columbus. Instead, for -sale single-family homes will continue to dominate the housing stock. <br />LINWOOD & COLUMBUS SUBMARKET SUMMARY <br />Linwood & Columbus <br />Demographics <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 />Anoka County <br />8,625 - 9,240 - 10,100 298,189 - 344,250 - 387,445 <br />2,906 - 3,225 - 3,690 106,476 - 125,470 - 144,140 <br />465 18,670 <br />$83,790 <br />14.0% - 22.8% - 30.7% <br />100.0% <br />15.0% <br />$74,497 <br />19.6% - 24.6% <br />84.4% <br />For -Sale Housing <br />Median single-family home resale price (2010) <br />Median townhome resale price (2010) <br />$160,000 $167,000 <br />$126,000 <br />Average number of new construction units closed annually 26 1,095 <br />Existing vacant developed lots (3rd Quarter 2010) 120 3,504 <br />Ratio closings to vacant developed lots (2006 / 2008 / 2010) 0.21 0.29 - 0.11 0.53 - 0.23 - 0.21 <br />l'teneral Occupancy Housing <br />Distribution and vacancy rate of rental units by type <br />Market rate 0 7,251 - 4.7% <br />Shallow subsidy 0 632 - 4.5% <br />Deep subsidy 0 418 - 0.0% <br />Average rent for market rate unit $926 <br />Average square footage for market rate unit 836 <br />Average rent per square foot $1.11 <br />Senior Housing <br />Distribution and vacancy rate** of senior housing units by type <br />Affordable active adult 0 1,172 - 0.8% <br />Market rate active adult - rental 0 1,049 - 5.6% <br />Market rate active adult - ownership 0 240 - 3.0% <br />Congregate 0 490 - 2.2% <br />Assisted living 0 555 - 0.9% <br />Memory care 0 164 - 0.0% <br />MAXFIELD RESEARCH INC. 128 <br />