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HOUSING AFFORDABILITY 62 <br />Introduction 62 <br />Rent and Income Limits 62 <br />Housing Cost Burden 65 <br />Housing Costs as Percentage of Household Income 67 <br />RENTAL MARKET ANALYSIS 69 <br />Introduction 69 <br />Overview of Rental Market Conditions 69 <br />General Occupancy Multifamily Rental Properties 74 <br />Licensed Rental Ordinance 81 <br />Rental Housing Comparison 81 <br />SENIOR HOUSING ANALYSIS 85 <br />Senior Housing Defined 85 <br />Senior Housing in Ramsey 86 <br />Senior Housing Comparison 91 <br />FOR -SALE HOUSING ANALYSIS 93 <br />Introduction 93 <br />Overview of For -Sale Housing Market Conditions 93 <br />Home Resales by Price Point 97 <br />Home Resales per Square Foot ("PSF") 99 <br />Current Supply of Homes on the Market 103 <br />New Construction Housing Activity 109 <br />PLANNED AND PENDING HOUSING DEVELOPMENTS 119 <br />Planned and Pending Housing Developments 119 <br />HOUSING DEMAND ANALYSIS 121 <br />Introduction 121 <br />Demographic Profile and Housing Demand 121 <br />Housing Demand Overview 122 <br />Estimated Demand for General Occupancy Rental Housing 126 <br />Estimated Demand for Market Rate Active Adult Senior Housing 128 <br />Estimated Demand for Subsidized/Affordable Active Adult Senior Housing 130 <br />Estimated Demand for Independent Living (Congregate) Senior Housing 131 <br />Demand Estimate for Assisted Living Housing 133 <br />Estimated Demand for Memory Care Housing 136 <br />Estimated Demand for For -Sale Housing 137 <br />RECOMMENDATIONS AND CONCLUSIONS 140 <br />Introduction/Overall Housing Recommendations 140 <br />Recommended Housing Product Types 143 <br />