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<br /> <br /> <br />Hillside Heights Apartments, Elk River, Minnesota <br /> <br />Market Analyst Professionals, LLC 1 April 24, 2020 <br /> Table of Contents <br />SECTION 1: INTRODUCTION AND SCOPE OF WORK .................................................................... 3  <br />SECTION 2: EXECUTIVE SUMMARY .................................................................................................. 4  <br />SECTION 4: MARKET AREA DELINEATION ..................................................................................... 9  <br />SECTION 5: SITE PROFILE .................................................................................................................. 13  <br />Map: Aerial Map of Site Via Google ................................................................................................................................... 15  <br />Map: Site and Adjacent Features ........................................................................................................................................ 16  <br />Map: Local Area and Amenities .......................................................................................................................................... 17  <br />SECTION 6: DEMOGRAPHIC TRENDS AND CHARACTERISTICS ............................................ 21  <br />DEMOGRAPHIC OVERVIEW ................................................................................................................................... 21  <br />POPULATION CHARACTERISTICS AND TRENDS ................................................................................................... 22  <br />Population Trends and Forecast .......................................................................................................................................... 23  <br />Population by Age Group ..................................................................................................................................................... 24  <br />HOUSEHOLD CHARACTERISTICS AND TRENDS .................................................................................................... 25  <br />Household Trends and Forecast .......................................................................................................................................... 26  <br />Average Household Size and Group Quarters ..................................................................................................................... 27  <br />Renter Households ............................................................................................................................................................... 29  <br />Households by Tenure by Number of Persons in Household ............................................................................................... 30  <br />Tenure by Age by Household................................................................................................................................................ 31  <br />HOUSEHOLD INCOME ............................................................................................................................................ 32  <br />Median Household Income ................................................................................................................................................... 32  <br />Household Income Distribution by Tenure PMA ................................................................................................................. 34  <br />Senior Household (65+) Income Distribution by Tenure PMA ............................................................................................ 35  <br />Non-Senior Household Income by Tenure PMA .................................................................................................................. 36  <br />Household Income Distribution by Tenure PMA ................................................................................................................. 37  <br />SECTION 7: ECONOMIC ANALYSIS .................................................................................................. 38  <br />ECONOMIC CHARACTERISTICS AND TRENDS ...................................................................................................... 39  <br />Employee Commute Times ................................................................................................................................................... 39  <br />Industry Employment Concentrations .................................................................................................................................. 40  <br />Graph: Unemployment Rate Comparison ............................................................................................................................ 42  <br />Annual Labor Force and Employment Statistics .................................................................................................................. 43