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DEMOGRAPHIC ANALYSIS <br />Tenure by Age of Householder <br />Table D-6 shows the number of owner and renter households in Ramsey by age group in 2000, <br />2010 and 2017. This data is useful in determining demand for certain types of housing since <br />housing preferences change throughout an individual's life cycle. The following are key findings <br />from Table D-6. <br />• In 2000, 97% of all households in the Ramsey owned their housing. By 2010, that percent- <br />age declined to 91% and in 2017 it is estimated that 87% of all Ramsey households owned <br />their housing. <br />• The housing market downturn contributed to the decrease in the homeownership rate <br />during the late 2000s as it became more difficult for households to secure mortgage loans, <br />households delayed purchasing homes due to the uncertainty of the housing market, and <br />foreclosures forced households out of their homes. Currently it is estimated that there is a <br />growing trend of lifestyle renters seeking rental properties in the Ramsey area and Metro <br />Area as can be seen by the growing percentage of renters. <br />Tenure by Age of Householder <br />City of Ramsey, 2017 <br />2,500 <br />2,000 <br />'0 1,000 <br />x <br />500 <br />120% <br />100% <br />60% re <br />0 <br />x <br />40% <br />20% <br />0 _ .I.1 0% <br />15-24 25-34 35-44 45-54 55-64 65-74 75-84 85+ <br />• Owners • Renters <br />Homeownership Rate <br />MAXFIELD RESEARCH AND CONSULTING <br />20 <br />