2. CCSR-HRSR 09-04-2012 SPEC JOINT

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DEMOGRAPHIC ANALYSIS • It is important to note that seniors are often able and willing, to allocate a larger share of their income on rental housing that meets their needs since they no longer have to save for retirement, their children's education or major purchases (home, car, etc.). This is particularly true in "senior" rental projects where support services and personal care assistance are available. In fact, research has shown that, in assisted living projects, up to 50% of residents not only allocated all of their income but spent-down assets in order to afford monthly housing and service costs. TABLE D-6 TENURE BY HOUSEHOLD INCOME ELK RIVER 2000 and 2010* 2000 2010* Own Rent Own Rent No. Pct. No. Pct. No. Pct. No. Pct. Less than $5,000 46 59.7 31 40.3 37 62.7 22 37.3 $5,000 to$9,999 33 25.6 96 74.4 37 41.1 53 58.9 $10,000 to$14,999 73 23.3 240 76.7 162 63.5 93 36.5 $15,000 to$19,999 100 45.2 121 54.8 205 63.3 119 36.7 $20,000 to$24,999 159 58.2 114 41.8 110 45.3 133 54.7 $25,000 to$34,999 301 53.1 266 46.9 248 57.9 180 42.1 $35,000 to$49,999 651 83.1 132 16.9 762 78.7 206 21.3 $50,000 to$74,999 1,300 88.1 175 11.9 1,395 80.8 331 19.2 $75,000 to$99,999 1,059 95.6 49 4.4 1,338 95.1 69 4.9 $100,000 to$149,999 545 98.4 9 1.6 1,686 97.7 39 2.3 $150,000 or more 164 100.0 0 0.0 673 91.7 61 8.3 Total 4,431 78.2 1,233 21.8 6,653 83.6 1,306 16.4 * Data for 2010 is from US Census,American Community Survey(5-Year Estimate) Source: US Census Bureau;Maxfield Research Inc. Net Worth by Age of Householder Table D-7 presents data on the net worth of households by age in Elk River as of 2010. Information in the table is sourced from ESRI with adjustments for the estimated household base as calculated by Maxfield Research Inc. The following are key points from Table D-7: • Data in the table is calculated as the total value of a household's wealth less any debts (unsecured or secured by assets). Overall, the median net worth of a household in Elk River is about $159,712 and the average is $433,477. MAXFIELD RESEARCH INC. 23