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Household Income
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<br />Table 3 illustrates changes in household income between 1990 and 2005 for the entire study area.
<br />In 1990, the median household income was $37,997. During this period over 25% of households
<br />earned between $35,000 and $49,999 per year. An additional 22.7% of households earned
<br />between $50,000 and $74,999 per year.
<br />
<br />In 2000, the median household income increased substantially to $53,583. Incomes between
<br />$50,000 and $74,999 now comprise the largest income segment at 27.6%. Considerable
<br />increases were also seen in the $75,000 to $99,999 and the $100,000 or more income groups.
<br />These income segments increased by 9.8% and 9.3%, respectively.
<br />
<br />By 2005 the median household income is projected to increase to $60,451. Increases during this
<br />period will mainly occur in the upper income brackets with the largest percentage increase found
<br />in those households earning $100,000 or more. This segment will increase by 828 households
<br />for a 7.5% increase.
<br />
<br /> Table 3
<br />Elk River Study Area
<br />Household Income Data
<br />1990-2005
<br />
<br /> 1990 2000 2005
<br /> Number Percent Number Percent Number Percent
<br />
<br />Less than $10,000 385 7.5% 3651 4.7% 375 4.2%
<br />$10,000 to $14,999 207 4.0% 320 4.1% 350 3.9%
<br />$15,000 to $24,999 662 12.9% 617 8.0°/, 584 6.5%
<br />$25,000 to $34,999 942 18.4% 648 8.4% 816 9.1%
<br />$35,000 to $49,999 1,292 25.2% 1,448 18.7% 1,295 14.4%
<br />$50,000 to $74,999 1,164 22.7% 2,137 27.6% 2,295 25.5%
<br />$75,000 to $99,999 328 6.4% 1,254 16.2% 1,525 16.9%
<br />$100,000 or more 148 2.9% 945 12.2% 1,773 19.7%
<br />Total 5,128 100.0% 7,734 100.0% 9,013 100.0%
<br />Median Income $37,997 $53,583 $60,451
<br />
<br />Source: Claritas, Inc.
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