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Elk River Comp ehensive Plan
<br /> Income b Age of Householder Table 7-L: Household Income by Age of Householder -
<br /> Y 9 2011
<br /> Looking at income data is also important when Under 25 25-44 45-64 65+
<br /> predicting future housing demands in the City Income No. Pct. No. Pct. No. Pct. No. Pct.
<br /> of Elk River. In 2000, the median household
<br /> income was $58,114 and the largest employment Less than 0 0% 0 0% 30 1% 42 3%
<br /> industries were educational, health and social $10,000
<br /> services, manufacturing, and retail trade. By $10,000 to 19 8% 130 4% 34 1% 118 9%
<br /> 2011, the median household income increased $14,999
<br /> significantly to approximately $70,224 and the $15,000 to 18 7% 282 9% 189 6% 190 14%
<br /> top employment industries were the same. The $24,999
<br /> total population in 2010 age 16 and over was $25,000 to 31 12% 121 4% 53 2% 315 23%
<br /> approximately 16,705, of which approximately $34,999
<br /> 75.6% were considered to be in the labor force. $35,000 to 47 19% 423 13% 289 9% 251 19%
<br /> The unemployment rate in the City of Elk River $49,999
<br /> in 2010 was approximately 5.5%. During this $50,000 to 116 46% 637 20% 872 27% 177 13%
<br /> same time, Minnesota had an unemployment rate $74,999
<br /> of about 4.9%. Refer to Table 7-L: Household $75,000 to 0 0% 891 27% 485 15% 142 11%
<br /> Income by Age of Householder-201 1. $99,999
<br /> $100,000 to 21 8% 536 17% 889 27% 78 6%
<br /> $149,999
<br /> Table 7-M: Elk River Median Family $150,000 to 0 0% 126 4% 279 9% 21 2%
<br /> Income $199,999
<br /> Annual Household Income Number of Pct. $200,000 or 0 0% 97 3% 118 4% 11 1%
<br /> Households in More
<br /> Category
<br /> Less than$10,000 125 2.1% TOTAL HHs 252 100% 3,243 100% 3,238 100% 1,345 100%
<br /> $10,000 to$14,999 122 2.1%
<br /> $15,000 to$24,999 260 4.4% Source: U.S. Census Bureau (2007-2011 American Community
<br /> Survey)
<br /> $25,000 to$34,999 290 4.9%
<br /> $35,000 to$49,999 604 10.2% Income distributions as reported by the U.S. Census Bureau can
<br /> $50,000 to$74,999 1,145 19.3% be compared to affordability standards to determine how many
<br /> households and families in the City of Elk River may require
<br /> $75,000 to$99,999 1,235 20.8% affordable housing. Table 7-M: Median Family Income depicts the
<br /> $100,000 to$149,999 1,502 25.3% number of households that may require affordable housing (based
<br /> on family income) as shown in the shaded area. 1,401 households
<br /> $150,000 to$199,999 491 8.3% (23.6%) have median family incomes of less than 80% of the
<br /> $200,000 or More 172 2.9% median family income.
<br /> TOTAL HI-Is 5,946 100.0%
<br /> Source: U.S. Census Bureau (2007-2011
<br /> American Community Survey)
<br /> 80 / Chapter 7: Housing
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