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City of Arden Hills – 2040 Comprehensive Plan <br /> <br /> <br />Approved:, 2018 <br />7-12 <br />Housing—along with food, clothing, transportation and medical care—is a necessity. <br />For many households, it is their largest monthly expense. When households spend <br />more than 30% of their monthly income on housing costs, they are considered “cost- <br />burdened.” <br />7.5.1 Existing Affordable Housing Need <br />While the Census Bureau does not report household incomes in the ranges <br />identical to the affordable income limits of the Metropolitan Council, Tables 7.7 and <br />7.8, represents an approximation of the number of Arden Hills households that fall <br />within the three AMI ranges. On a pro-rated basis, there is 302 households with <br />incomes at 30% of AMI and below, 334 households with incomes between 30% <br />and 50% of AMI, and 500 households with incomes between 50% and 80% of AMI. <br />Initially the 242 cost burdened households with incomes of 30% of AMI or below, <br />the 150 cost burdened households with incomes between 50% and 80% AMI, and <br />the 201 cost burdened households with incomes between 50% and 80% AMI listed <br />in Table 7.10 would indicate that Arden Hills would need more affordable housing <br />units. The 318 existing housing units affordable at 30% AMI and below exceeds the <br />approximately 302 households in Arden Hills with incomes at 30% and below. The <br />384 existing housing units affordable between 30% and 50% AMI exceeds the <br />approximately 334 households in Arden Hills with incomes between 30% and 50% <br />AMI. The 790 existing housing units affordable between 50% and 80% AMI <br />exceeds the approximately 500 households in Arden Hills with incomes between <br />50% and 80% AMI. What appears to be happening is that households with <br />incomes greater than affordability bands are occupying the affordable housing <br />units. In summary, Arden Hills’ existing housing stock is adequate to address the <br />needs of households within the affordable income bands. <br />TABLE 7.7 - 2015 AFFORDABLE HOUSING UNITS AND COST BURDENED HOUSEHOLDS <br />Affordability Housing Units Cost Burdened <br />Households3 Owner Occupied1 Rental Total2 <br />30% AMI and Below 21 297 318 242 <br />30% to 50% AMI 252 132 384 150 <br />50% to 80% AMI 480 310 790 201 <br />AMI = Area Median Income <br />Source 1: Ramsey County 2015 <br />Source 2: Metropolitan Council 2015 Housing Stock Estimates <br />Source 3: U.S. Department of Housing and Urban Development 2009-2013 Comprehensive Housing Affordability <br />Strategy Draft 04/04/2018