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City of Arden Hills – 2040 Comprehensive Plan Approved: January 14, 2019 7-12 In December of 2014, the Metropolitan Council released a report entitled “Thrive 2040 Housing Policy Plan” The report not only forecasts the regional need by 2030 for newly constructed, affordable housing but it allocates each community’s share of the regional need. The total need for newly constructed affordable housing in the Twin Cities is estimated to be 37,900 units between 2021 and 2030.Each community’s share of the regional need is allocated based on a number of factors. According to the Metropolitan Council, 33.2 percent of new housing units in all cities should be affordable. Allocations are then adjusted by the balance of low-wage jobs and workers and the and existing affordable housing stock. Based on the formula, the Metropolitan Council has allocated a need for 373 affordable housing units to Arden Hills between now and the year 2030. Housing—along with food, clothing, transportation and medical care—is a necessity. For many households, it is their largest monthly expense. When households spend more than 30% of their monthly income on housing costs, they are considered “cost - burdened.” 7.5.1 Existing Affordable Housing Need While the Census Bureau does not report household incomes in the ranges identical to the affordable income limits of the Metropolitan Council, Tables 7.8 and 7.9, represents an approximation of the number of Arden Hills households that fall within the three AMI ranges. On a pro-rated basis, there is 302 households with incomes at 30% of AMI and below, 334 households with incomes between 30% and 50% of AMI, and 500 households with incomes between 50% and 80% of AMI. Initially the 242 cost burdened households with incomes of 30% of AMI or below, the 150 cost burdened households with incomes between 50% an d 80% AMI, and the 201 cost burdened households with incomes between 50% and 80% AMI listed in Table 7.11 would indicate that Arden Hills would need more affordable housing units. The 318 existing housing units affordable at 30% AMI and below exceeds the approximately 302 households in Arden Hills with incomes at 30% and below. The 384 existing housing units affordable between 30% and 50% AMI exceeds the approximately 334 households in Arden Hills with incomes between 30% and 50% AMI. The 790 existing housing units affordable between 50% and 80% AMI exceeds the approximately 500 households in Arden Hills with incomes between 50% and 80% AMI. What appears to be happening is that households with incomes greater than affordability bands are occupying the affordable housing units. In summary, Arden Hills’ existing housing stock is