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13 <br />Demographics Employment and Commuting Local Market Conditions <br />• There is a higher concentration of lower-income households in <br />the Downtown study area, largely due to the fact that nearly <br />a third of multifamily housing units in this area are regulated <br />affordable housing. Along with Jackson Place, the 23-unit Elk <br />River Senior Apartments are affordable. However, the high <br />concentration of upper-income households citywide suggests <br />that there could be an opportunity to add higher-end housing <br />and retail to Downtown. <br />• 262 people live in the Downtown study area, making up just <br />under one percent of the total population of 27,393. Between <br />2010 and 2024, population growth in Elk River outpaced <br />county- and region-wide growth. The median per capita <br />and household incomes are lower in Downtown than region <br />wide due to the high concentration of affordable housing in <br />Downtown Elk River. <br />• Elk River has a total of 11,498 jobs, 81% of which are filled <br />by workers from outside of the city limits (including <br />unincorporated areas). Nearly 11,000 workers who live in Elk <br />River commute to other communities for work. Just 2,169 (17 <br />percent) of workers who live in Elk River work within city limits. <br />• Among workers who live in Elk River, 14.5% work in the <br />city and nine percent work in Minneapolis, while 52% of <br />Elk River workers commute to other locations, including <br />unincorporated areas. <br />• Residents of Elk River and <br />neighboring cities typically <br />cross municipal boundaries <br />to meet their daily needs. <br />To understand the overall <br />market dynamics in Elk <br />River, the Plan analyzed <br />a seven-mile radius from <br />Downtown Elk River, <br />which includes parts of <br />Sherburne, Anoka, and <br />Wright counties. Within <br />this area, there are 8.3 <br />million square feet of <br />industrial space across <br />255 properties, with an <br />additional nine proposed <br />properties expected to <br />add two million square <br />feet of industrial space to <br />the market. Multifamily <br />• Permitting has not returned to pre-Great Recession levels. <br />While between 2000 and 2006, Sherburne County permitted <br />an average of over 1,200 units per year, between 2017 and <br />2023 the county permitted an average of around 500 units <br />per year. In 2022, 596 units were permitted, over half of which <br />were in structures with five or more units. It does not appear <br />that the COVID-19 pandemic has had a significant negative <br />impact on permitting. <br />• Retail trade, manufacturing, health care and social assistance, <br />and educational services dominate the Elk River employment <br />sector. <br />• Between 2012 and 2021, construction, manufacturing, <br />accommodation and food services, and retail trade saw the <br />biggest job gains among employment sectors. <br />• Over that period, the city gained 722 new jobs, a 6.7% increase <br />in overall employment. Manufacturing and retail are the <br />biggest employment sectors in Elk River, employing over 1,800 <br />workers each and accounting for nearly two thirds of total <br />employment citywide. <br />• Manufacturing sector employment in Elk River grew by 45% <br />between 2012 and 2021 while retail grew by 23% percent. <br />and retail are also among <br />the most common use types <br />by square feet, though there <br />are more office properties <br />than multifamily in this area. <br />The relatively small office <br />spaces support nonprofit <br />offices, service providers like <br />insurance agents, and mental <br />health care providers. <br />MARKET SUMMARY <br />Housing Permits in Sherburne CountyLocation of Employment for Residents of Elk River <br />Income Distribution in Downtown and Elk River <br />Page 83 of 157