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Senior Housing Demand Assessment: Ramsey, MN <br />Demographic Analysis <br />Tables 1 through 5 on Pages 6 through 8 show key economic and demographic variables related <br />to the demand for senior housing in the PMA (age distribution of the senior population and <br />household base, senior household income, senior homeownership rates, and estimated home <br />values). This demographic and home value data is from ESRI, a national demographics firm. <br />The key demographic and economic findings are summarized on the following pages. <br />Senior Population and Household Trends <br />► The total population in the PMA was 32,182 in 2020. The population increased by 14.5% last <br />decade. Population growth stemmed from new housing construction which led to the <br />addition of over 1,600 households. <br />► While the overall population in the PMA increased by 14.5% last decade (2010 to 2020), the <br />senior population (age 65+) doubled, growing from 1,898 in 2010 to 3,978 seniors in 2020. <br />Seniors ages 75+ are the primary target market for senior housing. This group more than <br />doubled last decade, reaching 1,256 in 2020. <br />► The senior population in the PMA has continued growing since 2020. As of 2025, there are <br />an estimated 1,813 seniors ages 75+ (up 44% since 2020). <br />► Between 2025 and 2030, all age groups above 65 in the PMA are projected to experience <br />growth. The age 80 to 84 age group is projected to experience the greatest numerical <br />growth as the first baby boomers begin turning 80 in 2026. Overall, the age group 75 and <br />over is projected to add 562 seniors between 2025 and 2030 (+31%). This growth should <br />lead to increased demand for senior housing. <br />► The City of Ramsey has an estimated population of 29,012 as of 2025, of which 1,561 are <br />over age 75. This equates to Ramsey containing 86% of both the PMA's overall population <br />and its age 75+ population. <br />Senior Household Incomes <br />Incomes in the PMA are above average compared to the Twin Cities Metro Area, meaning <br />an above average percentage of seniors would likely be able to afford market rate housing. <br />The estimated median income of age 75+ households in the PMA in 2025 is $55,044, higher <br />than the Metro Area's median of $53,245 for this age group. <br />Viewpoint Consulting Group, Inc. <br />Page 4 <br />November 5, 2025 <br />