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111 eVr_, <br />htC.1i i1 (1tt 'n_cL� 'll.. COlI, i or.JtS\ ttsiN ct CLIP b,dall, t conn(`cztV"it\ <br />,, ''�rl.P t ll[ << 1(l ::1<:ii , . j ,,, ft()ilinCITIt O.. T i <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 Number of Households I Percent of Total <br />< 30% AMI 354 4% <br />31 — 50% AMI 438 <br />51 — 80% AMI 745 <br />Total 1,537 <br />Source: Metropolitan Council Existing Housing Assessment, total housing units 8,896 <br />Ae\A'a <br />5% <br />8% <br />17% <br />City of Ramsey 2040 Comprehensive Plan Update <br />Housing Plan <br />Page 9 of 23 <br />