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01-22-08 1B Market Study
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01-22-08 1B Market Study
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Last modified
1/18/2008 11:19:37 AM
Creation date
1/18/2008 11:17:07 AM
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General
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Market Study by Maxfield Research
General - Type
Agenda Item
Date
1/22/2008
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<br />SENIOR HOUSING ANALYSIS <br /> <br />Arden Hills Senior Housing Market Area <br /> <br /> <br />~ Between 1990 and 2000, the Market Area's older adult (55+) population grew by just over <br />2,000 people (2%), the senior (65+) population increased by 3,793 people (35%) and the <br />number of older seniors (75+) grew by 2,846 people (66%). <br /> <br />~ Between 2000 and 2012, the Market Area's 55+ population is projected to increase by nearly <br />5,000 people (4%) to 112,000 in 2012. The majority (roughly 74%) ofthe total population <br />growth of the Arden Hills Market Area, however, will be among those age 55 to 64 (an in- <br />crease of 5,73 I people), as the leading edge of the baby boom ages into their late 50s and ear- <br />ly 60s. Meanwhile, people age 65-74 will increase to 9,970, and older seniors (75+) will in- <br />crease to 9,215 by 2012. <br /> <br />~ Senior household trends closely parallel the population trends summarized above. Increases <br />among each age cohort that occurred during the 1990s are projected to continue through <br />2012. Between 2000 and 2012, the Market Area will add 3,264 households age 55-64,1,226 <br />households age 65-74, and 1,185 households age 75+. <br /> <br />MAXFIELD RESEARCH INC. <br /> <br />63 <br /> <br />
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