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ANOKA COUNTY HOUSING STUDY CONCLUSIONS <br />OAK GROVE & NOWTHEN SUBMARKET SUMMARY <br />Oak Grove & Nowthen <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 />10,460 - 13,335 - 14,835 298,189 - 344,250 - 387,445 <br />3,323 - 4,385 - 5,170 106,476 - 125,470 - 144,140 <br />785 18,670 <br />$90,549 <br />12.2% 19.8% <br />100.0% <br />27.8% 15.0% <br />$74,497 <br />19.6% <br />84.4% <br />24.6% <br />For -Sale Housing <br />Median single-family home resale price (2010) $235,000 <br />Median townhome resale price (2010) <br />$167,000 <br />$126,000 <br />Average number of new construction units closed annually 48 1,095 <br />Existing vacant developed lots (3rd Quarter 2010) 250 3,504 <br />Ratio closings to vacant developed lots (2006 / 2008 / 2010) 0.29 - 0.15 - 0.09 0.53 - 0.23 - 0.21 <br />General Occupancy Housing <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 />O 7,251 - 4.7% <br />O 632 - 4.5% <br />O 418 - 0.0% <br />$926 <br />836 <br />$1.11 <br />Senior Housing <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 />Modest <br />125 <br />O -- 1,172 - 0.8% <br />51 - 23.5% 1,049 - 5.6% <br />O -- 240 - 3.0% <br />O 490 - 2.2% <br />O 555 - 0.9% <br />O 164 - 0.0% <br />Oak Grove & Nowthen Submarket General Occupancy Housing Demand <br />2010 to 2020 <br />Demand <br />690 <br />For -Sale Demand <br />655 <br />Single -Family I I Multifamily <br />620 35 <br />I <br />Move -up I I Executive Modest Move -up <br />400 95 25 10 <br />Deep Subs. <br />10 <br />Rental Demand <br />35 <br />I 5 <br />Shallow I <br />Market Rate <br />20 <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 />MAXFIELD RESEARCH INC. 130 <br />