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ANOKA COUNTY HOUSING STUDY CONCLUSIONS <br />RAMSEY SUBMARKET SUMMARY <br />RAMSEY <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 />18,510 - 24,970 - 34,580 298,189 - 344,250 - 387,445 <br />5,906 - 8,260 - 11,975 106,476 - 125,470 - 144,140 <br />3,715 18,670 <br />$92,680 <br />10.2% 16.8% - 21.5% <br />97.3% <br />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) $180,000 <br />Median townhome resale price (2010) <br />$104,825 <br />$167,000 <br />$126,000 <br />Average number of new construction units closed annually 174 1,095 <br />Existing vacant developed lots (3rd Quarter 2010) 534 3,504 <br />Ratio closings to vacant developed lots (2006 / 2008 / 2010) 0.48 - 0.33 - 0.13 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 />74 - 6.8% 7,251 - 4.7% <br />34 - 0.0% 632 - 4.5% <br />0 - -- 418 - 0.0% <br />$1,281 $926 <br />1,700 836 <br />$0.75 $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 50 - 0.0% 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 />Modest <br />360 <br />I Single -Family I <br />1,790 <br />Ramsey Submarket General Occupancy Housing Demand <br />2010 to 2020 <br />Demand <br />3 520 <br />For -Sale Demand Rental Demand <br />2,990 530 <br />I , <br />Multifamily Deep Subs. Shallow Market Rate <br />1200 160 105 265 <br />Move -up I I Executive Modest Move -up <br />1,160 270 840 360 <br />MAXFIELD RESEARCH INC. <br />132 <br />