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City of Arden Hills – 20430 Comprehensive Plan <br /> <br /> <br />Approved: September 28, 201809 Amended: December 12, 2016 <br />7-15 <br /> <br />Rental housing is another component of life-cycle housing that needs to be addressed. <br />Rental housing is an important component of the overall housing supply since it provides <br />options for both the beginning and later stages of the life-cycle chain. It may also serve the <br />needs of several segments of the population including retail service employees, seniors, <br />young adults just entering the workplace and economically disadvantaged households. <br />Based on the homestead data from Ramsey County, 10 percent of the housing in Arden Hills <br />is classified as non-homesteaded, which is a rough indicator for rental housing. According to <br />Ramsey Countythe 2010 Census, property information, slightly more than 8694 percent of <br />the occupied single family homes and townhomes (not including manufactured homes or <br />condominiums) were owner occupied in 20082010. <br /> <br />Arden Hills promotes housing diversity through its long-term goals, policies, and strategies. <br />The market is also expected to exert pressure on the City for more housing diversity. As was <br />noted earlier, factors such as an aging population, a population that has more non-family <br />households, and increased numbers of householders living alone is expected to drive <br />demand for more attached, multi-family housing. Multi-family units expected to be in <br />demand are likely to be oriented toward both owners and renters. <br /> <br />7.6.2 7.4.2 Housing Affordability <br /> <br />Affordable housing is an issue in every Twin Cities area community. With housing costs <br />outpacing many wages, it is becoming increasingly important to focus on affordable housing. <br />Because of the disparity of housing costs and wages throughout the Twin Cities, affordable <br />housing continues to be a major initiative of the Metropolitan Council. <br /> <br />According to the Metropolitan Council, housing is considered affordable if it is priced at or <br />below 30 percent of the gross income of a household earning 560 percent of the Twin Cities <br />median family income. In 20107, the area median income for the seven-county Minneapolis- <br />St. Paul area adjusted by the Department of Housing and Urban Development for a family of <br />Formatted: Tab stops: 0.35", Left + Not at <br />0.24" <br />Formatted: Emphasis, Font: (Default) Calibri <br />Formatted: No bullets or numbering <br />Formatted: Emphasis, Font: (Default) Calibri, <br />15 pt, Not Bold <br />Formatted: Tab stops: 1.25", Left + Not at <br />0.24"