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119 <br />Projected Housing Need <br />Ramsev's nonulation is anticipated to steadily increase through 2040. In order to accommodate the <br />future growth. there will need to be additional housing units within Ramsey- A variety of hnusiti+,a <br />tvnes will need to he nrovided in order to house residents of all income levels. stages of lifeand <br />housing nreferences. For instance. young families may nrefer single family homes or townhomes, <br />while seniors may nrefer a denser living environment near The COR. <br />By 2040. the City of Ramsey will need to provide almost 4.000 additional housing units for almost <br />8.000 additional residents. Population and housing nroiections through 2040 are shown helow. <br />Table 57: Population and Households by Decade <br />Population 23,668 <br />Households 8.033 <br />Source! Metrnnnlitan Council <br />26.400 <br />9,400 <br />30,700 34,700 <br />11,300 13,000 <br />Affordable Housing Allocation <br />The City narticinates in the Livable Communities Program of the Metropolitan Council. which <br />provides access to a number of funding opportunities. As nart of said participation. the City plans <br />for an allocation of affordable housing_. The total need for affordable housing in the region from <br />2021 - 2030 is 37.900 units. In order to reach this total need. the City of Ramsey will need to <br />uraxiskplan for_aan additional 499 units hsetween 2021 and 2030 The breakdown of unit tvnes is <br />shown below <br />Affordable housing is defined by different affordability levels denendine on tenant income. <br />Affordability levels for necessary affordable housing in Ramsey is shown at three different levels <br />below. 292 units will he required for those who make less than 30% Area Median Income (AMII. In <br />2015. annual income for those in this tune of housing would need to he less than $25.980 as the <br />2015 AMl was 86.600 for a family of four in the region. <br />The need for affordable housing is shown below. As the City of Ramsey meets its affordable housing <br />need. less Ramsey residents will exnerience a housing cost -burden. These residents. many of whom <br />are members of the workforce in Ramsey and surrounding communities. can reside in our <br />community without fear of homelessness. <br />Table 58: Housing Affordability Need <br />At or Below 30% AMI 292 <br />31%to50%AM1 167 <br />51%to 80%AM1 411 <br />Total Units 499 <br />Source! Metrnnnlitan Council Existing Housing Assessment total housing units 8.896 <br />Guided Land Use <br />The Future Land Use Man shows the areas guided for low density. medium density, and <br />high density residential The areas included in The COR are estimated to he annroximately <br />city of RAMSEY <br />Comprehensive Plan 2040 <br />