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DEMOGRAPHIC ANALYSIS <br />Introduction <br />This section of the report examines factors related to the current and future demand for for- <br />sale and renter-occupied housing in Elk River, Minnesota. It includes an analysis of population <br />and household growth trends and projections, employment data, projected age distribution, <br />household income data and household tenure data for Elk River. A review of these <br />characteristics provides insight into the demand for various types of housing in Elk River over <br />the next decade. <br /> <br /> <br />Elk River Study Area Definition <br />The draw area for determining current and future housing demand in the City of Elk River is <br />based on traffic pattern orientation, proximity to other communities, interviews with local <br />officials and community stakeholders, natural and manmade geographic barriers, and our <br />knowledge of the draw areas for housing. The Study Area is defined as Elk River proper. <br />6 <br />MAXFIELD RESEARCH & CONSULTING, LLC. <br />