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$100,000 or more <br />$75,000 to $99,999 <br />$50,000 to $74,999 <br />$35,000 to $49,999 <br />$25,000 to $34,999 <br />$15,000 to $24,999 <br />$10,000 to $14,999 <br />Less than $10,000 <br /> <br />Household Income <br />Elk River Study Area <br />1990-2005 <br /> <br />0 500 1,000 1,500 2,000 2,500 <br /> <br />Table 4 illustrates household income by age for 2000. Households age 35 to 44 comprise the <br />largest segment with 2,026 households and have a median income of $60,549. The highest <br />median income is found in the 45 to 54 age segment with a median income of $66,739. <br />Households between the ages of 45 and 64 tend to not only have the highest median incomes, but <br />also have the most equity in their existing homes. <br /> <br />Households between the ages of 25 and 34 are usually in the market for rental housing or are <br />looking to purchase entry-level homes. The median income for this age segment is $49,319. <br />With this income a household could afford monthly rent in the amount of $1,230 including rent, <br />utilities mhd a garage. A household with this income could afford an approximate mortgage of <br />$148,200. <br /> <br />The lowest median incomes are found in households over the age of 75. Households over the <br />age of 85 have the lowest median household income at $13,333 per year. Incomes drop <br />dran~atically after households reach 65 years of age. h~comes drop from $66,010 for households <br />age 60 to 64 to $27,272 for households age 65 to 69. <br /> <br /> <br />