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Ct <br />1,- <br />Fl, <br />Housing Cost Burden <br />According to the Metropolitan Council in 2018, 1,537 households in Ramsey are cost -burdened. Being cost - <br />burdened is defined as spending more than 30% of your annual income on housing costs. Being cost - <br />burdened by housing costs affects lower income residents at a higher rate than higher income residents. <br />In 2016, the ACS data showed that of those households making less than $35,000 annually (which is almost <br />one third of Ramsey households), around 22% of those households spend more than 30% of their annual <br />income on housing costs. The percent of households who spend more than 30% of their annual income on <br />housing costs is much higher for lower income residents. Households that make more than $75,000 per year <br />rarely pay more than 30% of their income to housing costs — less than 2%. <br />Approximately 17% of all households in Ramsey are cost -burdened to some extent. <br />Table 7.• <br />Income Levels <br />Number of Households <br />Percent of Total <br />< 30% AMI <br />354 <br />4% <br />31 — 50% AMI <br />438 <br />5% <br />51 — 80% AMI <br />745 <br />8% <br />Total <br />1,537 <br />17% <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 9 of 23 <br />