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City of Elk River Housing Plan Updated January 2003
<br /> • Household Income
<br /> According to the 2000 Census, the City of Elk River has a median household income of$58,114
<br /> compared to Sherburne County at $57,014. The median household income for Sherburne
<br /> County has grown at a slightly higher pace than the City resulting in comparable incomes for
<br /> 2000. In 1990, the median household income was $37,549 for Elk River and $35,585 for
<br /> Sherburne County.
<br /> Table 4 illustrates the breakdown of household incomes for the City of Elk River between 1990
<br /> and 2000. In 1990, the largest number of households (40.6%) earned between $25,000 and
<br /> $49,999 per year. In 2000, the $50,000 to $74,999 income segment became the largest segment
<br /> with 25.8% of the households. The largest increases between 1990 and 2000 occurred in the
<br /> $75,000 to $99,999 income segment which increased from 7.6% of households in 1990 to 19.5%
<br /> of households in 2000. Increases were also experienced in the $50,000 to $74,999 and $100,000
<br /> and over income segments.
<br /> Table 4
<br /> City of Elk River
<br /> Household Income
<br /> 1990-2000
<br /> 1990 2000
<br /> Household Income Number Percent Number Percent
<br /> • Less than $10,000 338 9.1% 214 3.8%
<br /> $10,000 to $14,999 127 3.4% 327 5.8%
<br /> $15,000 to $24,999 462 12.4% 501 8.8%
<br /> $25,000 to $49,999 1,511 40.6% 1,338 23.6%
<br /> $50,000 to $74,999 869 23.4% 1,461 25.8%
<br /> $75,000 to $99,999 281 7.6% 1,108 19.5%
<br /> $100,000 or more 130 3.5% 724 12.8%
<br /> Total 3,718 100.0% . 5,673 100.0%
<br /> Median Income . $37,549 $58,114
<br /> Source: 1990 and 2000 Census
<br /> Table 5 illustrates changes in household income between 1990 and 2005 for the entire study area.
<br /> Information found in Table 5 was provided by Claritas, Inc. and is based on projected numbers
<br /> not including the 2000 Census data. In 1990, the median household income for the study area
<br /> was $37,997. During this period over 25% of households earned between$35,000 and $49,999
<br /> per year. An additional 22.7% of households earned between $50,000 and $74,999 per year.
<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.
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