Agenda - Council - 08/06/2018 - Laserfiche WebLink

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Employment Trends Figures 26 and 27 show the current and forecast employment densities in Anoka County, mapped based on 2040 TAZ data. The data indicate that within Anoka County, jobs are concentrated in the south, which is consistent with closer proximity to the cities of Minneapolis -St. Paul, more urban land uses, and a higher population. Housing in Coon Rapids (Source: City of Rapids) Housing and Commuting Trends Housing Trends For the foreseeable future, suburban areas will remain the leader in growth in housing. According to the Urban Land Institute, the suburbs accounted for 90 percent of population growth nationwide in the top 50 metropolitan areas. From 2016 to 2025, 12.5 million net new households will be formed, with almost 80 percent of that growth experienced in suburban areas, resulting in younger and more diverse suburban populations. The Millennial generation is expected to rent housing more than owning them. On the other side of the generational age range, the Baby Boom generation is aging and entering retirement and will require different housing and transportation options. By 2025, 66 million Americans will be over age 65 - 38 percent more than in 2015. Some are on fixed incomes and the generation as a whole has higher rates of disabilities. Most seniors remain homeowners through the age of 75 to 84. The largest group of baby boomers is still under age 60, indicating that most will be homeowners for at least another 15+ years, when they will move from larger homes on larger lots to smaller homes on smaller lots, or townhomes and apartments. The Minnesota Housing Finance Agency has determined that Minnesota needs more affordable housing. In recent years, the number of Minnesota households that are cost burdened by their housing payment has increased by 63 percent as median incomes have declined and housing costs have increased. Households are cost burdened if they spend more than 30 percent of their income on housing. In summary, as the Baby Boom generation grows older, retires, and moves from larger, more expensive suburban homes and lots to smaller, more affordable homes, townhomes, and apartments in more urban areas, younger Millennial families will likewise prefer to live in smaller homes and smaller lots in pedestrian -friendly neighborhoods. Many Baby Boomers and Millennials will be renters. Demand for housing in first -ring suburb style communities in southern Anoka County will increase in the future, while demand for traditional large home/ large lot development of suburban areas may remain flat or even decline. ANOKA COUNTY 2040 TRANSPORTATION PLAN UPDATE CHAPTER4-FORECASTCONDITIONS