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City of Ramsey 2030 Comprehensive Plan Update <br /> Chapter 7:Housing Plan <br /> Tenure <br /> As of 2007, there were approximately 300 rental units within Ramsey, or about 4% of the total number of <br /> housing units. In 2003, the City enacted a rental licensing requirement to ensure the quality of rental units <br /> and improve the ability of the City to track rental housing. This program tracks known units of rental housing <br /> within the City and conducts inspections every two years as a part of the licensure process. Of the 300 units, <br /> approximately one-third are located within apartment-style buildings. The remaining units are dispersed <br /> throughout townhome and single-family developments within the city. <br /> Comparing the owner/renter mix of housing with other communities using 2000 census data, Ramsey's <br /> housing is primarily owner-occupied (97%) with very few rental units. This is a substantially higher <br /> percentage than Anoka County which has 83% owner occupied units and 17% rental housing overall. <br /> Ramsey has a smaller percentage of rental housing than all except seven incorporated cities in the <br /> metropolitan area, according to the 2000 Census. However, many cities in the northwest metro have similar <br /> ownership-to-rental ratios.Andover, Lino Lakes, and Ham Lake have very little rental housing but compared <br /> to other similar cities, Ramsey has the smallest percentage of rental units. Currently, a 63 unit apartment <br /> building is being constructed called Terrace Hill. In the past several years there has been an increase in <br /> developer interest for sites to construct apartments and this trend is likely to continue particularly with the <br /> downturn in the housing market for ownership units. With only 4% of the total housing stock as rental, <br /> Ramsey is a strong market for new apartment living. <br /> Figure 3: Owner/Renter Mix in Surrounding Communities <br /> Owner/Renter Mix <br /> ■Owner Occupied% Renter Occupied <br /> 96% SS% 91% 97% 92% <br /> 71% 83% 75/ 80% 78% 74% <br /> 56% <br /> 4 <br /> 4% <br /> 9% 5% 0% 21 6% <br /> % <br /> SIX <br /> 1vaJ Goofi�aQ <br /> Source: 2000 Census <br /> Why is Rental Housing Important? <br /> Adequate opportunities for safe, decent and affordable rental housing are a key component of a balanced <br /> housing supply. There are many reasons why an individual and/or family choose to rent rather than own. <br /> Those choices may be short term due to financial issues (unable to afford a mortgage, need to save for a <br /> down payment, clear up credit issues), family issues (divorce, separation, job relocation) or social issues <br /> (disability,in-between home ownership,not secure in job,unsure on location preference).Also,many people <br /> choose a life of renting rather than owning due to income, transitional careers, traveling and aging. For all <br /> these reasons, a community should consider the benefits of providing a wide range of living choices which <br /> includes rental housing. <br /> City of Ramsey 2030 Comprehensive Plan Page 7-4 <br />