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DEMOGRAPHIC ANALYSIS
<br />as many young and senior households spend more than 30% of their income, while middle-
<br />aged households in their prime earning years typically allocate 20% to 25% of their income.
<br />TABLE D-5
<br />TENURE BY HOUSEHOLD INCOME
<br />RAMSEY MARKET AREA
<br />2017
<br />City of Ramsey
<br />Owner I
<br />1
<br />Renter
<br />Anoka County
<br />Owner I I Renter
<br />Twin Cities Metro Area
<br />Owner
<br />11
<br />Renter
<br />No. Pct. No. Pct. No. Pct. No. Pct. No. Pct. No. Pct.
<br />Less than $15,000 139 71.6 55 28.4 2947 48.5 3,135 51.5 25136 28.0 64,562 72.0
<br />$15,000 to $24,999 187 87.8 26 12.2 4444 53.3 3,894 46.7 33111 39.3 51,234 60.7
<br />$25,000 to $34,999 251 78.9 67 21.1 5,380 61.1 3,428 38.9 41,553 47.7 45,534 52.3
<br />$35,000 to $49,999 569 78.7 154 21.3 10,168 69.8 4,404 30.2 72,284 55.3 58,395 44.7
<br />$50,000 to $74,999 1,119 69.7 487 30.3 18,302 77.0 5,453 23.0 132,737 65.8 69,109 34.2
<br />$75,000 to $99,999 1,573 92.9 120 7.1 17,851 86.6 2,773 13.4 122,383 76.3 37,967 23.7
<br />$100,000+ 3,742 95.0 196 5.0 41,867 95.4 2,026 4.6 370,230 89.5 43,433 10.5
<br />Total 7,580 87.3 1,105 12.7 100,959 80.1 25,113 19.9 797,434 68.3 370,234 31.7
<br />Source: U.S. Census Bureau Maxfield Research & Copnsulting, LLC
<br />• Typically, as income increases, so does the rate of homeownership. This can be seen in the
<br />Ramsey, where the homeownership rate increases from 72% of households with incomes
<br />below $15,000 to 95% of households with incomes above $100,000.
<br />• A portion of renter households that are referred to as lifestyle renters, or those who are fi-
<br />nancially -able to own but choose to rent, have household incomes of $50,000 or more
<br />(about 73% of the Ramsey's renters in 2015). Households with incomes below $15,000 are
<br />typically a market for deep subsidy rental housing (about 5% of the Ramsey's renters in
<br />2017).
<br />100%
<br />90%
<br />80%
<br />70%
<br />60%
<br />50%
<br />40%
<br />30%
<br />20%
<br />10%
<br />0%
<br />Tenure by Household Income, Ramsey 2017
<br />1
<br />1
<br />1
<br />30%
<br />70%
<br />1
<br />Less than $15K to $25K to $35K to $50K to $75K to $100K+
<br />$15K $24.9K $34.9K $49.9K $74.9K $99.9K
<br />■ Owner ■ Renter
<br />MAXFIELD RESEARCH AND CONSULTING 17
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