Ramsey 2040 Comprehensive Plan No Appendices (2)

Home

119 Projected Housing Need Ramsey’s population is anticipated to steadily increase through 2040. In order to accommodate the future growth, there will need to be additional housing units within Ramsey. A variety of housing types will need to be provided in order to house residents of all income levels, stages of life, and housing preferences. For instance, young families may prefer single family homes or townhomes, while seniors may prefer a denser living environment near The COR. By 2040, the City of Ramsey will need to provide almost 4,000 additional housing units for almost 11,600 additional residents. Population and housing projections through 2040 are shown below. Table 56: Population and Households by Decade 2010 2020 2030 2040 Population 23,668 27,550 33,350 39,150 Households 8,033 9,600 11,500 13,500 Source: Metropolitan Council Affordable Housing Allocation The City participates in the Livable Communities Program of the Metropolitan Council, which provides access to a number of funding opportunities. As part of said participation, the City plans for an allocation of affordable housing. The total need for affordable housing in the region from 2021 – 2030 is 37,900 units. In order to reach this total need, the City of Ramsey will need to plan for an additional 499 units between 2021 and 2030. The breakdown of unit types is shown below. Affordable housing is defined by different affordability levels depending on tenant income. Affordability levels for necessary affordable housing in Ramsey is shown at three different levels below. 292 units will be required for those who make less than 30% Area Median Income (AMI). In 2015, annual income for those in this type of housing would need to be less than $25,980 as the 2015 AMI was $86,600 for a family of four in the region. The need for affordable housing is shown below. As the City of Ramsey meets its affordable housing need, less Ramsey residents will experience a housing cost-burden. These residents, many of whom are members of the workforce in Ramsey and surrounding communities, can reside in our community without fear of homelessness. Table 57: Housing Affordability Need Affordability Level Number of Units At or Below 30% AMI 292 31% to 50% AMI 167 51% to 80% AMI 40 Total Units 499 Source: Metropolitan Council Existing Housing Assessment, total housing units 8,896 Guided Land Use The Future Land Use Map shows the areas guided for low density, medium density, and high density residential. The areas included in The COR are estimated to be approximately 50% residential, as The COR is a fully mixed-use area. As shown in Table 34: Forecasted