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HOUSING DEMAND ANALYSIS <br />Introduction <br />Previous sections of this study analyzed the existing housing supply and the growth and demo- <br />graphic characteristics of the population and household base in Ramsey. This section of the re- <br />port presents our estimates of housing demand in Ramsey from 2019 through 2030. <br />Demographic Profile and Housing Demand <br />The demographic profile of a community affects housing demand and the types of housing that <br />are needed. The housing life -cycle stages are: <br />1. Entry-level householders <br />• Often prefer to rent basic, inexpensive apartments <br />• Usually singles or couples in their early 20's without children <br />• Will often "double -up" with roommates in apartment setting <br />2. First-time homebuyers and move -up renters <br />• Often prefer to purchase modestly -priced single-family homes or rent <br />more upscale apartments <br />• Usually married or cohabiting couples, in their mid-20's or 30's, some <br />with children, but most are without children <br />3. Move -up homebuyers <br />• Typically prefer to purchase newer, larger, and therefore more expen- <br />sive single-family homes <br />• Typically, families with children where householders are in their late <br />30's to 40's <br />4. Empty -nesters (persons whose children have grown and left home) and <br />never -nesters (persons who never have children) <br />• Prefer owning but will consider renting their housing <br />• Some will move to alternative lower -maintenance housing products <br />• Generally, couples in their 50's or 60's <br />5. Younger independent seniors <br />• Prefer owning but will consider renting their housing <br />• Will often move (at least part of the year) to retirement havens in the <br />Sunbelt and desire to reduce their responsibilities for upkeep and <br />maintenance <br />• Generally, in their late 60's or 70's <br />MAXFIELD RESEARCH AND CONSULTING 121 <br />