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ANOKA COUNTY HOUSING STUDY CONCLUSIONS <br />For -Sale Housine: The Oak Grove & Nowthen submarket has 250 vacant developed single- <br />family lots and an additional 20 future single-family lots, which together account for <br />approximately 45% of the total demand for -sale single-family demand through 2020. No <br />existing or future multifamily lots are identified. Based on the inventory of existing and future <br />lots, an additional 350 single-family lots and 35 multifamily lots will be needed to satisfy all for - <br />sale housing needs in the submarket through 2020. <br />Existing inventory levels (vacant developed only) will be sufficient for approximately 5.0 to 5.5 <br />years for single-family homes. <br />Rental Housing: Demand is not sufficient to support general occupancy rental housing in the <br />Oak Grove & Nowthen submarket. <br />Senior Housing: Demand is not sufficient to support senior housing in the Oak Grove & <br />Nowthen submarket. Senior households residing in this submarket will need to relocate to other <br />submarkets in order to reside in senior housing alternatives. <br />Ramsey Submarket Recommendations <br />Over the decade, household growth in Ramsey is projected to be the highest by percentage <br />(+45%) and the second highest numerically (3,715 households), which accounts for about 20% <br />of total growth expected in Anoka County. Strong household growth is anchored by equally <br />strong employment growth. Over the next decade, employment growth is forecast for 2,400 jobs <br />— the third highest numerical growth in the County. <br />The demographic profile of Ramsey tends toward younger households with 86.4% of all <br />households distributed among family household types (the second highest in the County) and <br />67.5% of the population under the age of 45 (the fourth highest in the County). Traditionally, <br />new construction in Ramsey has been single-family homes and townhomes. However, as the <br />household base continues to grow and age, a greater array of housing product types could be <br />supported and successful in Ramsey. <br />MAXFIELD RESEARCH INC. 131 <br />