Laserfiche WebLink
<br /> <br /> <br />Hillside Heights Apartments, Elk River, Minnesota <br /> <br />Market Analyst Professionals, LLC 32 April 24, 2020 <br />Household Income <br />Median household income within all areas increased at a moderate annual rate between 2009 and <br />estimated 2020 incomes—indicating little increase in purchasing power. Income levels within the county <br />increased the most robustly over this period among submarkets. Incomes in the PMA are the highest <br />among all markets. ESRI forecasts a tepid rate of growth for median income for all areas through 2025. <br /> <br />Median Household Income <br />City of County of State of <br />Elk River PMA Sherburne MN <br />2010 Median Household Income $72,944 $81,135 $71,704 $57,243 <br />2020 Median Household Income Estimate $91,570 $97,958 $89,052 $70,723 <br />Percent Change (2010 to 2020) 25.5% 20.7% 24.2% 23.5% <br />Annualized Change (2010 to 2020) 2.3% 1.9% 2.2% 2.1% <br />2022 Median Household Income Forecast $95,295 $101,322 $92,522 $73,420 <br />Percent Change (2010 to 2022) 30.6% 24.9% 29.0% 28.3% <br />Annualized Change (2010 to 2022) 2.3% 1.9% 2.1% 2.1% <br />2025 Median Household Income Forecast $100,883 $106,369 $97,726 $77,464 <br />Percent Change (2010 to 2025) 38.3% 31.1% 36.3% 35.3% <br />Annualized Change (2010 to 2025) 2.2% 1.8% 2.1% 2.0% <br />Source: Census of Population and Housing, U.S. Census Bureau; ESRI <br /> <br />