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Ramsey will evolve through citizen -driven, collaborative processes that respect the balance and connectivity <br />between its unique urban, rural, and natural environment for current and future generations. <br />Existing Housing Supply <br />The following tables and figures represent the current context of the City of Ramsey. The data for the <br />following tables, graphics, and narratives were provided by the Metropolitan Council or the American <br />Community Survey 2016 5-Year Estimates. The City of Ramsey had approximately 8,776 units in 2016, as <br />estimated by the American Community Survey 2016 5-Year Estimates. The Metropolitan Council estimated a <br />slightly higher number for housing units in Ramsey — 8,896. <br />Total Housing Units <br />According to the American Community Survey (ACS) 2016 5-Year Estimates, the City of Ramsey has 8,776 <br />units The majority of these, 97 percent, are occupied housing units. Total housing vacancy was <br />approximately 2.6% in 2016. This low vacancy rates shows a demand for existing housing units Due to <br />movement in and out of units, housing vacancy cannot reach zero percent. 2.6% vacancy is an extremely <br />healthy vacancy rate for the City of Ramsey and is on par with other cities in the region. <br />Table 2: <br />Unit Type <br />Total Units <br />Occupied Housing Units <br />8,544 <br />Vacant Housing Units <br />232 <br />Total Housing Unitslik <br />8,776 <br />Source: ACS 2016 Estimates <br />Total Existing Affordable Housing Units <br />Affordable housing is based upon the Area Median Income (AMI) of the region. Half of those in the region <br />earn more than the AMI, and half earn less than the AMI. Housing policies for affordable housing are based <br />upon income thresholds related to this AMI. <br />In the Twin Cities Metropolitan Region, the U.S. Department of Housing and Urban Development (HUD) <br />has defined the following affordability levels for a family of four. <br />Table 3: <br />Affordability Level <br />Number of Units <br />Affordable at 30% AMI <br />128 <br />Affordable from 31 — 50% AMI <br />990 <br />Affordable from 51 — 80% AMI <br />5,606 <br />Total Affordable Units <br />6,724 <br />Source: Metropolitan Council Existing Housing Assessment, total housing units 8,896 <br />City of Ramsey 2040 Comprehensive Plan Update <br />Housing Plan <br />Page 3 of 23 <br />