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