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Centerville2040 Comprehensive Plan <br /> <br /> <br />Household Income <br />Household incomes drives the level of consumer choice for housing and likewise has a <br />considerable effect on local housing demand. The following tables describe the income levels <br />ABLE 26, 9 percent of households in <br />of current households in Centerville. As shown in T <br />Centerville make less than $25,000 a year, 34 percent make between $25,000 and $75,000, <br />and 58 percent make more than $75,000 a year. <br />Table 26 – Household Income <br />Income Households Percentage <br />Less than $10,000 6 0.5% <br />$10,000 to $14,999141.1% <br />$15,000 to $24,999 85 6.5% <br />$25,000 to $34,999 70 5.4% <br />$35,000 to $49,999 124 9.6% <br />$50,000 to $74,999 246 19.0% <br />$75,000 to $99,999 211 16.3% <br />$100,000 to $149,999 362 27.9% <br />$150,000 or more 178 13.7% <br />Total 1,296100% <br />S OURCE: ACS 2012-2016 E STIMATES <br />ABLE 27, the median household income in Centerville is $63,696 which is 21.1 <br />As shown in T <br />percent higher than the Anoka County median and 25.7 percent higher than the Twin Cities <br />Metropolitan Area median. <br />Table 27– City and County Median Household Income <br />Income Centerville Anoka % of Twin Cities % of TC <br />County County MSA <br />Median $89,100 $73,600 121.1% $70,900 125.7% <br />income <br />S OURCE:ACS 2012-2016 E STIMATES <br />The measure of affordability of a housing unit compares housing cost to gross household <br />income. The general standard is that housing is affordable if housing expenses equal 30% <br />or less of a person’s gross household income. T ABLE 28 shows that 27 percent of households <br />in Centerville that own their home spent more than 30% of their income on housing costs. <br />ABLE 29 shows that 51 percent of households that <br />A similar pattern occurs in rental housing. T <br />rent their home spent more than 30% of their income on rent. <br /> Page 52 <br /> <br /> <br />