|
<br />
<br />DEMOGRAPHIC ANALYSIS
<br /> utilities, and garage parking) or a maximum purchase price of about $147,000. Younger
<br /> households earning the median income will be a market for higher-end rental, or entry-
<br /> level multifamily ownership. Average rents in the 3rd Quarter of2007 for Twin Cities
<br /> Metro area (which includes Arden Hills) are $768 for a one bedroom and $969 for a two
<br /> bedroom apartment. Table 21 shows current rents in more detail.
<br /> TABLE 4
<br /> HOUSEHOLD INCOME BY AGE OF HOUSEHOLDER
<br /> ARDEN HILLS
<br /> (Number of Households)
<br /> 2007
<br /> mml
<br />Less than $15,000 134 22 8 19 24 4 19 38
<br />$15,000 to $24.999 147 15 20 0 18 21 28 44
<br />$25,000 to $34,999 162 6 22 8 19 55 19 32
<br />$35,000 to $49,999 436 32 63 41 73 90 79 59
<br />$50,000 to $74,999 651 II 92 79 152 141 74 102
<br />$75.000 to $99,999 400 4 42 58 112 III 45 27
<br />$100,000 to $150,000 564 0 53 101 236 103 50 21
<br />$150,000+ 501 0 37 86 196 156 21 5
<br />Total 2,995 89 337 392 831 681 338 328
<br />Median income $73,737 $35.909 $65.000 $96.042 $103.586 $81.522 $57.630 $47,664
<br />Less than $15,000 7,181 653 907 729 993 790 1,028 2,081
<br />$15,000 to $24,999 8,860 638 1.128 864 887 831 1,645 2.869
<br />$25,000 to $34,999 10,388 817 1,601 1.471 1,264 1.455 1,795 1,985
<br />$35,000 to $49,999 18,095 1,252 3,285 3,483 3.086 2.821 2,499 1,669
<br />$50,000 to $74,999 26,614 1,299 5.230 5.866 5,782 4,490 2,533 1,414
<br />$75.000 10 $99,999 19,879 525 3,242 4,865 5.430 3,967 1,231 618
<br />$100,000 to $150.000 19,124 230 2.510 4,883 6.260 3,705 1.078 459
<br />$150,000+ 9.359 69 558 2,072 3.527 2.328 551 254
<br />Total 119,500 5,483 18,460 24,235 27,228 20,386 12,361 11,348
<br />Median Income $64.303 $42,593 561.036 $73.737 $82.380 573.925 545.279 528,651
<br />Less than $] 5,000 7,315 675 915 748 1,017 794 1,047 2.118
<br />$15,000 to $24,999 9,007 652 1,148 864 905 852 1.673 2,913
<br />$25,000 to 534.999 10,550 823 1.623 1,479 1.283 1,510 1,815 2,017
<br />$35,000 to 549,999 18,531 1.284 3,348 3,524 3.158 2,911 2.578 1,728
<br />$50,000 to 574,999 27,265 1.310 5,322 5,946 5.934 4,631 2.608 1.516
<br />$75,000 to 599.999 20,278 529 3.283 4,923 5.542 4,079 1.277 645
<br />$100.000 to $150,000 19,688 230 2,563 4,984 6,496 3,807 1.128 480
<br />$150,000+ 9,860 69 594 2,159 3,723 2,484 573 259
<br />Total 122,495 5,572 18,796 24,626 28,059 21,067 12,698 11,676
<br />Median Income 564,528 542,427 561.104 573.959 582,814 574.114 $45.557 $28,998
<br />Sources: Claritas, Inc.; Maxfield Research Inc.
<br />
<br />
<br />MAXFIELD RESEARCH INC.
<br />
<br />19
<br />
|