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TABLE OF CONTENTS <br />Page <br />PURPOSE AND SCOPE OF STUDY.......................................................................................... 1 <br />DEMOGRAPHIC ANALYSIS..................................................................................................... 2 <br />Introduction...................................................................................................................... 2 <br />MarketArea Definition..................................................................................................... 2 <br />Population and Household Growth Trends and Projections from 1990 to 2030 ............. 3 <br />AgeDistribution Trends.................................................................................................... 5 <br />Household Income by Age of Householder...................................................................... 6 <br />Tenure by Age of Household............................................................................................. 8 <br />HouseholdType Trends.................................................................................................... 10 <br />Household by Household Income..................................................................................... 11 <br />Summary of Demographic Trends.................................................................................... 12 <br />EMPLOYMENT....................................................................................................................... 14 <br />EmploymentTrends.......................................................................................................... 14 <br />ResidentLabor Force........................................................................................................ 14 <br />CoveredEmployment........................................................................................................ 16 <br />Inflow/Outflow.................................................................................................................. 17 <br />MajorEmployers............................................................................................................... 18 <br />Summary of Demographic Trends.................................................................................... 18 <br />HOUSING CHARACTERISTICS................................................................................................. 20 <br />Residential Construction Trends 2000 to Present............................................................ 20 <br />Housing Units by Structure and Tenure............................................................................ 21 <br />Summary of Demographic Trends.................................................................................... 22 <br />RENTAL MARKET ANALYSIS.................................................................................................. 23 <br />General Occupancy Rental Projects.................................................................................. 23 <br />Senior Housing in Elk River................................................................................................ 27 <br />Summary of Elk River Competitive Multifamily Properties .............................................. 30 <br />FOR -SALE HOUSING ANALYSIS.............................................................................................. 32 <br />ResidentialResales............................................................................................................ 32 <br />Current Supply of Homes on the Market.......................................................................... 36 <br />LotSupply.......................................................................................................................... 39 <br />Summary of For Sale Market Conditions.......................................................................... 41 <br />HOUSING DEMAND ANALYSIS.............................................................................................. 43 <br />Estimated Demand for For -Sale Housing........................................................................... 43 <br />Estimated Demand for General Occupancy Rental Housing ............................................. 44 <br />