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DEMOGRAPHIC ANALYSIS
<br />Population and Household Growth Trends and Projections
<br />The following graphs show population and household growth trends for the City of Elk River
<br />from 1990 to 2025. Table D -1 presents data from 1990 to 2010 from the U.S. Census with
<br />projections to 2025 adjusted by Maxfield Research and Consulting LLC based on data from local
<br />building permit data, ESRI (a nationally recognized demographics provider), and the Minnesota
<br />Department of Administration /Office of Geographic and Demographic Analysis.
<br />• According to the U.S. Census Bureau, the City of Elk River contained 22,974 persons and
<br />8,080 households in 2010. Over the last decade, the Elk River's population increased
<br />significantly. Through 2010, the population increased by over 6,500 persons (40%), while its
<br />household base grew by over 2,400 households (43 %).
<br />• Based on our review of growth trend projections for Elk River, current economic trends and
<br />building permit history, we project that Elk River will continue to see growth through 2020,
<br />but at a much lesser rate than the past two decades due to the Recession and slowdown in
<br />the housing market. Between 2010 and 2020, the City of Elk River is projected to add nearly
<br />2,100 persons (9%) and 850 households (10.5 %).
<br />Elk River
<br />Population Trends
<br />❑ 1990
<br />1990-2020
<br />30,000
<br />❑ 2000
<br />8,000
<br />❑ 2000
<br />9,253
<br />i
<br />�
<br />25,000
<br />❑ 2010
<br />8,080
<br />-Z
<br />20,000
<br />■ 2020
<br />25,632
<br />m
<br />K
<br />15,000
<br />❑ 2025
<br />24,576
<br />22,974 '
<br />0
<br />4,000
<br />--
<br />5,664
<br />a
<br />10,000
<br />16,447
<br />5,000
<br />11,143
<br />0
<br />• Based on our review of growth trend projections for Elk River, current economic trends and
<br />building permit history, we project that Elk River will continue to see growth through 2020,
<br />but at a much lesser rate than the past two decades due to the Recession and slowdown in
<br />the housing market. Between 2010 and 2020, the City of Elk River is projected to add nearly
<br />2,100 persons (9%) and 850 households (10.5 %).
<br />MAXFIELD RESEARCH & CONSULTING, LLC. 8
<br />Elk River Study Area
<br />Household Trends
<br />❑ 1990
<br />1990-2020
<br />10,000
<br />❑ 2000
<br />8,000
<br />-- 02010
<br />9,253
<br />i
<br />■ 2020
<br />8,080
<br />6,000
<br />-- ❑ 2025
<br />0
<br />4,000
<br />--
<br />5,664
<br />=
<br />2,000
<br />3
<br />,732
<br />0
<br />MAXFIELD RESEARCH & CONSULTING, LLC. 8
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