7.2. HRSR 06-01-2020 - Laserfiche WebLink

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Hillside Heights Apartments, Elk River, Minnesota Market Analyst Professionals, LLC 22 April 24, 2020 Population Characteristics and Trends Population in the PMA represents 81.7 percent of the total population of the county. Between 2000 and 2010 population increased in all areas. Population in the PMA increased at an annual rate of 4.3 percent, representing a robust annual rate in MAP's estimation, while increasing in the county over this period at a rate of 3.2 percent, also considered a robust rate. The highest rate of growth among all submarkets was in the PMA at 4.3 percent relative to an overall increase in the state of 0.8 percent annually. The overall total change over this period was: 6,434, 27,460, 24,082 and 384,446 in the city, PMA, county and state respectively. Between 2010 and 2020 ESRI estimates that population increased in all areas. Over this period population in the PMA increased at an annual rate of 1.6 percent while increasing in the county at a rate of 1.1 percent. The rate of change in the PMA over this period was faster relative to the state as a whole which increased at a mild annual rate and also faster relative to the county which increased over this period. Between 2020 and 2025 ESRI forecasts that population will increase in all areas. Population in the PMA will increase at an annual rate of 1.5 percent, representing a moderate annual rate in MAP's estimation, while increasing in the county over this period at a rate of 1.1 percent, also considered a moderate rate. The highest rate of forecasted growth among all submarkets is in the PMA at 1.5 percent relative to an overall increase in the state of 0.7 percent annually.