Under COAH regulations, the housing element of the comprehensive master plan must include all of the following except:

The housing element of the comprehensive master plan, as mandated by the Council on Affordable Housing (COAH) regulations, focuses on various aspects critical to addressing housing needs within a municipality. Among the critical elements it requires are an inventory of existing housing, an analysis of demographic characteristics, and projections concerning housing availability and affordability.

Focusing on the correct answer, the projection of the municipality's housing stock for a period of 10 years is not a required element under COAH regulations. Instead, the emphasis is more on the existing housing conditions and needs rather than long-term forecasting of the housing stock over a decade. This reflects COAH’s focus on ensuring that current housing conditions are adequately assessed and that municipalities are planning effectively to meet the needs of their populations now and in the foreseeable short-term.

On the other hand, characteristics such as the inventory of existing housing and demographic analyses are critical in understanding both the current market and the needs of the population. Similarly, an analysis of future employment characteristics is relevant in informing housing needs, as employment trends can impact housing demand. However, the necessity of 10-year projections is not a stipulated requirement in the regulations, which is why this aspect stands out as the exception.