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<br /> <br />MARKET ANALYSIS <br />City of Elk River, MN <br />Feasibility Study * <br />Page 10 <br />In addition to taking a look at Median Age and Median Income, it is important to examine <br />Household Budget Expenditures. In particular looking at housing information; shelter, utilities, <br />fuel and public services along with entertainment & recreation can provide a snapshot of the cost <br />of living and spending patterns in the services areas. The table below looks at that information <br />and compares the service areas. <br /> <br />Table E – Household Budget Expenditures3: <br /> <br />City of Elk River SPI Average Amount Spent Percent <br />Housing 114 $24,542.84 29.7% <br />Shelter 115 $18,893.16 22.9% <br />Utilities, Fuel, Public Service 112 $5,649.69 6.8% <br />Entertainment & Recreation 115 $3,808.63 4.6% <br /> <br />Secondary Service Area SPI Average Amount Spent Percent <br />Housing 123 $26,478.30 29.6% <br />Shelter 124 $20,377.43 22.8% <br />Utilities, Fuel, Public Service 121 $6,100.87 6.8% <br />Entertainment & Recreation 125 $4,140.23 4.6% <br /> <br />State of Minnesota SPI Average Amount Spent Percent <br />Housing 105 $22,630.17 29.6% <br />Shelter 105 $17,237.74 22.6% <br />Utilities, Fuel, Public Service 107 $5,392.43 7.1% <br />Entertainment & Recreation 107 $3,543.69 4.6% <br /> <br />SPI: Spending Potential Index as compared to the National number of 100. <br />Average Amount Spent: The average amount spent per household. <br />Percent: Percent of the total 100% of household expenditures. <br /> <br />Note: Shelter along with Utilities, Fuel, Public Service are a portion of the Housing percentage. <br /> <br />3 Consumer Spending data are derived from the 2004 and 2005 Consumer Expenditure Surveys, Bureau of Labor <br />Statistics. ESRI forecasts for 2015 and 2020. <br />APPENDIX B