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HOUSING CHARACTERISTICS <br />Housing Units by Occupancy Status & Tenure <br />Tenure is a key variable that analyzes the propensity for householders to rent or own their <br />housing unit. Tenure is an integral statistic used by numerous governmental agencies and <br />private sector industries to assess neighborhood stability. Table HC -4 shows historic tenure <br />trends for 2000 and with estimates for 2015 and projections for 2020 (ESRI, with adjustment by <br />Maxfield Research). <br />• Even though both owner- and renter - occupied housing units increased substantially over <br />the decade, their percentage of total housing units decreased slightly due to an increased <br />number of vacant units. Owner - occupied units decreased from 77% in 2000 to 76% in 2010 <br />and renter - occupied units from 21% to 19 %. Consequently, the number of vacant occupied <br />units was only 2% in 2000 while increasing to over 5% in 2010. Projections through 2020 <br />indicate a stabilization of owner - occupied housing and vacant units. <br />MAXFIELD RESEARCH & CONSULTING, LLC. 37 <br />TABLE HC -4 <br />HOUSING UNITS <br />BY OCCUPANCY STATUS & TENURE <br />ELK RIVER <br />2000 to 2020 <br />Elk River <br />Year /Occupancy <br />No. <br />Pct. <br />2000 <br />Owner Occupied <br />4,431 <br />76.6 <br />Renter Occupied <br />1,233 <br />21.3 <br />Vacant <br />118 <br />2.0 <br />Total <br />5,782 <br />100.0 <br />2010 <br />Owner Occupied <br />6,478 <br />75.8 <br />Renter Occupied <br />1,602 <br />18.8 <br />Vacant <br />462 <br />5.4 <br />Total <br />8,542 <br />100.0 <br />2015 <br />Owner Occupied <br />6,650 <br />77.9 <br />Renter Occupied <br />1,703 <br />19.9 <br />Vacant <br />457 <br />5.4 <br />Total <br />8,810 <br />103.1 <br />2020 <br />Owner Occupied <br />7,012 <br />75.4 <br />Renter Occupied <br />1,790 <br />19.2 <br />Vacant <br />495 <br />5.3 <br />Total <br />9,297 <br />100.0 <br />Sources: U.S. Census Bureau; ESRI; Maxfield Research & Consulting, LLC <br />MAXFIELD RESEARCH & CONSULTING, LLC. 37 <br />