Housing Needs in St. Francis

St. Francis faces growing housing demand across for-sale, rental, and senior segments through 2040. For-sale housing demand is projected at 540 units by 2030, exceeding the current supply of vacant and future lots, which may require further development—especially if demand accelerates despite high mortgage rates. Rental housing demand is expected to reach 518 units by 2040, but low rent levels may hinder new development without public-private partnerships. In the senior housing market, modest demand exists for both active adult and service-enriched options, with a recommended focus on active adult housing and smaller facilities for assisted living and memory care. Proactive planning and investment will be necessary to ensure adequate housing supply across all categories.

Per the Anoka County Housing Study (pages 239-240) it has been identified that within St. Francis there is the current demand and need for additional housing: 

For-Sale Housing: St. Francis has 67 vacant developed lots and 214 future lots. Demand is identified for 540 single-family and owned multifamily units from 2023 to 2030. Given the current lot supply, additional lots will need to be developed to meet the projected demand over the next six years. We anticipate some slowdown in demand resulting from current high mortgage interest rates. If demand accelerates in the next couple of years, then additional lots may be needed to accommodate demand to maintain a three-year lot supply.

Rental Housing: There is demand for 173 rental units from 2023 to 2030 and another 345 rental units from 2030 and 2040. All types of rental units are needed in St. Francis, but rent levels remain low. It will be difficult to development new rental housing without a public-private partnership.

Senior Housing: Demand is identified for a limited number of active adult and service-enriched senior housing to 2030. We recommend focusing on products targeted to meet demand for the active adult segment. Service-enriched housing can be considered in smaller freestanding buildings for assisted living and memory care.