Agenda - Council - 06/28/2016 - Laserfiche WebLink

Home

ANOKA COUNTY HOUSING STUDY DEMOGRAPHIC ANALYSIS • As of 2010, the highest percentage of the County's older adults and seniors (age 55+) population was located in the Southern Leg (22.4%), followed by Coon Rapids (19.4%), Blaine, Circle Pines, & Lexington (18.5%), and Andover (7.0%). Numerically, seniors are concentrated in the following submarkets: o Southern Leg (15,077 people age 55+) o Coon Rapids (13,093 people age 55+) o Blaine, Circle Pines, & Lexington (12,473 people age 55+) o Andover (4,691 people age 55+) • Some submarkets have high proportions of older adults and seniors relative to the rest of the population, as quantified by the percentage of the total population that is age 55+. The following communities have the highest percentage of people age 55+: o Southern Leg (28.2%) o Anoka (23.7%) o Linwood & Columbus (22.8%) o Coon Rapids (20.3%) • Conversely, the following communities have the youngest age demographic with the highest percentage of people under the age of 45: o St. Francis (78.0%) o Lino Lakes & Centerville (73.0%) o Andover (69.6%) o Ramsey (67.5%) Tables A-5 through A-17: Household Income by Age of Householder • The overall median household income in Anoka County is estimated at about $74,500 in 2010. The median income peaks in the 45-to-54-year-old age group at $88,215 before declining to $36,295 among the 75+ cohort. • Median incomes among Anoka County submarkets range from $53,940 in Anoka to $101,615 in Andover. The chart on the following page displays median household incomes in the submarkets in comparison to the County overall. • The Depailinent of Housing and Urban Development defines affordable housing cost as less than 30% of a household's adjusted gross income. Maxfield Research Inc. uses a figure of 25% to 30% for younger households and 40% or more for seniors, since seniors generally have lower living expenses and can often sell their homes and use the proceeds toward housing payments. MAXFIELD RESEARCH INC. 10