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DEMOGRAPHIC ANALYSIS <br />Households <br />• Household growth trends are typically a more accurate indicator of housing needs than <br />population growth since a household is, by definition, an occupied housing unit. However, <br />additional demand can come from changing demographics of the population base, which <br />results in demand for different housing products. <br />• Ramsey gained 2,127 households during the 2000s (an increase of 36%), increasing its <br />household base to 8,033 households as of 2010. <br />• Maxfield Research projects household growth in Ramsey to increase by 1,479 households <br />(18.4%) between 2010 and 2019. Overall, we project Ramsey to grow to 13,500 households <br />by 2040. <br />16,000 <br />14,000 <br />12,000 <br />10,000 <br />8,000 <br />6,000 <br />4,000 <br />2,000 <br />0 <br />5,906 <br />1 <br />8,033 <br />1 <br />2000 2010 <br />Household Projections <br />2017 2019 2024 2030 2040 <br />Age Distribution Trends <br />Age distribution affects demand for different types of housing since needs and desires change <br />at different stages of the life cycle. Table D-2 shows the distribution of persons within nine age <br />cohorts for Ramsey, Anoka County, and the Metro Area in 2000 and 2010 with estimates for <br />2019 and projections for 2024. The 2000 and 2010 age distributions are from the U.S. Census <br />Bureau and the 2019 and 2024 figures are estimates based on ESRI data with adjustments <br />made by Maxfield. The following are key points from the table. <br />• In Ramsey between 2000 and 2010, growth occurred in all age cohorts. The majority of the <br />growth occurred in those between the ages of 55 to 75+. <br />MAXFIELD RESEARCH AND CONSULTING 8 <br />