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ANOKA COUNTY HOUSING STUDY CONCLUSIONS <br />Modest <br />80 <br />Linwood & Columbus Submarket General Occupancy Housing Demand <br />2010 to 2020 <br />For -Sale Demand <br />405 <br />I Single -Family I <br />405 <br />I , <br />Move -up I I Executive <br />265 60 <br />Multifamily <br />0 <br />Deep Subs. <br />10 <br />Rental Demand <br />25 <br />Shallow <br />5 <br />Market Rate <br />10 <br />Note: Because households are mobile and are willing to seek out various housing products in adjacent <br />communities, these demand figures may experience fluctuations. <br />For -Sale Housine: Currently, Linwood & Columbus has 120 vacant developed single-family <br />lots and an additional 15 future single-family lots, which together account for approximately <br />one-third of the total demand for -sale single-family demand through 2020. Based on the <br />inventory of existing and future lots, an additional 170 single-family lots will be needed to <br />satisfy all for -sale housing needs in the submarket through 2020. <br />Existing inventory levels (vacant developed only) will be sufficient for approximately 4.0 years <br />for single-family homes. <br />Rental Housine: Demand is not sufficient to support general occupancy rental housing in the <br />Linwood & Columbus submarket. <br />Senior Housine: Demand is not sufficient to support senior housing in the Linwood & <br />Columbus submarket. Senior households residing in this submarket will need to relocate to other <br />submarkets in order to reside in senior housing alternatives. <br />Oak Grove & Nowthen Submarket Recommendations <br />Through 2020, Oak Grove & Nowthen is projected to grow by 785 households (+17.9%). The <br />majority of growth will result in demand for single-family homes, which is consistent with the <br />low -density character of the submarket. Oak Grove & Nowthen has limited employment and <br />instead serves as a residential area for workers commuting to nearby concentrations of <br />employment, including to jobs located in more developed areas of southern Anoka County. <br />As a result of large lot sizes and acreage, the median resale price of single-family homes is the <br />highest in Anoka County. As the submarket builds out, smaller lot sizes will become more <br />acceptable to the target markets for for -sale housing. Oak Grove & Nowthen has a strong <br />percentage of family households — 86.3% — which is the third highest percentage in the County. <br />Single-family homes, particularly at mid -range price points, will continue to be the most <br />demanded housing type in Oak Grove & Nowthen. <br />MAXFIELD RESEARCH INC. 129 <br />