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Market Overview Page 9 <br />County Road 10 Redevelopment Study <br />j October 24, 2006 <br />Senior households (age 65 or <br />older) accounted for 10 percent of <br />all households in the community at <br />30% <br />that time. By 2000, as residents <br />25% <br />aged in place, the number of <br />younger households had dropped <br />a 20% <br />off sharply. The number of senior <br />15 <br />households grew significantly and <br />the dominant age group (ages 35 <br />10% <br />to 44) was aging into its later child- <br />° <br />rearing years. <br />5 <br />0% <br />The third chart in this group <br />shows how the City can expect to <br />change over the next 20 years if <br />current turnover patterns were to <br />continue. This chart indicates that the <br />age distribution will flatten out <br />considerably as younger households <br />rebound somewhat from current <br />declines and older households <br />continue to increase as a proportion of <br />the household base. While the share <br />of young households (under age 35) <br />will rebound as they move into homes <br />vacated by older adults, the most <br />significant decline is expected in the <br />established family households between <br />the ages of 35 and 54. By 2020, senior <br />households are projected to account <br />for up to 24 percent of all households. <br />Community Settlement Patterns <br />Distribution of Households by Age <br />US, Metro Area, Mounds View <br />2000 <br />LT 25 Yrs 25-34 Yrs 35-44 Yrs 45-54 Yrs 55-64 Yrs 65-74 Yrs 75+Yrs <br />30% <br />25% <br />Household Age Range <br />Change in Age Distribution of Households <br />Mounds View <br />2000-2020 <br />Over eighty percent of all housing in Mounds <br />View was constructed during a forty year <br />period from 1950 to 1990, with the 1970s <br />alone accounting for over one-third of all <br />homes. Less than 10 percent of the City's <br />housing was built after 1990. Much of the <br />growth in the 70's and 80's was driven by <br />Baby Boomers seeking starter housing. With <br />little new construction and limited land <br />development options in Mounds View, many <br />of these original homeowners are choosing to <br />LT 25 Yrs 25-34 Yrs 3544 Yrs 45-54 Yrs 55-64 Yrs 65-74 Yrs 75+Yrs <br />Household Age Range <br />X2000 ♦2005 1200 —2015 x-2020 <br />Age of Housing Stock <br />Mounds, StudyArea, Metro Area <br />2000 <br />40% <br />35% �Mowds Mmv --- <br />30% •SNdpArea _ _ _ <br />m .Herm Ama <br />•P 25% _. <br />X 20% <br />15% <br />a" <br />10% <br />s% <br />0% <br />1939- 194010 195010 196010 19]01. 19 N0 . 19901u 200010 <br />cart r N49 1159 1969 ell 1999 1999 2005 <br />Ycar Built <br />