Agenda - Council Work Session - 04/28/2020

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HOUSING CHARACTERISTICS Housing Units by Structure and Occupancy or (Housing Stock by Structure Type) Table HC-4 shows the housing stock in the City of Ramsey by type of structure and tenure as of 2017. • The dominant housing type in Ramsey is the single-family detached home, representing an estimated 89% of all owner -occupied housing units and 33% of renter -occupied housing units as of 2017. TABLE HC-4 HOUSING UNITS BY STRUCTURE & TENURE RAMSEY ANALYSIS AREA 2017 City of Ramsey Anoka County Seven -County Metro Area Owner- Renter- Owner- Renter- Owner- Renter - Units in Structure Occupied Pct. Occupied Pct. Occupied Pct. Occupied Pct. Occupied Pct. Occupied Pct. 1, detached 6,748 89.0% 365 33.0% 85,555 84.7% 5,423 21.6% 643,989 80.8% 50,760 14% 1, attached 790 10.4% 491 44.4% 10,316 10.2% 3,864 15.4% 92,624 11.6% 37,807 10% 2 0 0.0% 0 0.0% 224 0.2% 967 3.9% 7,044 0.9% 22,090 6% 3 to 4 0 0.0% 15 1.4% 282 0.3% 917 3.7% 5,391 0.7% 18,607 5% 5 to 9 9 0.1% 40 3.6% 373 0.4% 1,545 6.2% 5,781 0.7% 21,715 6% 10 to 19 0 0.0% 7 0.6% 140 0.1% 2,789 11.1% 3,387 0.4% 43,592 12% 20 to 49 0 0.0% 43 3.9% 189 0.2% 4,774 19.0% 8,215 1.0% 63,528 17% 50 or more 0 0.0% 128 11.6% 405 0.4% 4,390 17.5% 18,422 2.3% 110,102 30% Mobile home 33 0.4% 16 1.4% 3,449 3.4% 432 1.7% 12,434 1.6% 1,919 1% Boat, RV, van, etc. 0 0.0% 0 0.0% 26 0.0% 12 0.0% 147 0.0% 114 0% Total 7,580 100% 1,105 100% 100,959 100% 25,113 100% 797,434 100% 370,234 100% Sources: U.S. Census Bureau; American Community Survey; Maxfield Research & Consulting, LLC • About 44% of the renter -occupied housing units in Ramsey are single-family attached homes (townhomes), while 12% are within structures that have 50 or more units. • Most of the housing units with two or more units are renter -occupied. Owner -Occupied Housing Units by Mortgage Status Table HC-5 shows mortgage status and average values from the American Community Survey for 2017 (5-Year). Mortgage status provides information on the cost of homeownership when analyzed in conjunction with mortgage payment data. A mortgage refers to all forms of debt where the property is pledged as security for repayment of debt. A first mortgage has priority claim over any other mortgage or if it is the only mortgage. A second (and sometimes third) mortgage is called a "junior mortgage," a home equity line of credit (HELOC) would also fall into this category. Finally, a housing unit without a mortgage is owned free and clear and is debt free. MAXFIELD RESEARCH AND CONSULTING 40