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DEMOGRAPHIC ANALYSIS <br />• Based on the information that a household can afford a home 3.0 to 3.5 times its annual in- <br />come we estimate that households that fall into the workforce population can afford a home <br />ranging in price from $150,000 to as high as $215,000. Without dual incomes, the average <br />young teacher could afford a home around as high as $112,000, a registered nurse could af- <br />ford a home priced around $160,000, and a police officer or sheriff could afford a home val- <br />ued at $140,000. Most of the other professions could afford a home at $100,000 or rent. <br />Since there is little for -sale housing available for under $150,000, most of these singles <br />would need to rent their housing. <br />• Households who rent their home generally spend 30% of their annual income. Based on this, <br />teachers in the area could afford to rent an apartment for $800, registered nurses afford <br />$1,200, and a police officer could afford $1,000. Most of the other professions could afford <br />rents between $500 and $750. <br />Annual Salary <br />70,000 <br />60,000 - <br />50,000 - <br />40,000 - <br />30,000 - <br />20,000 - <br />10,000 - <br />Chart 4: Select Salaries by Occupation <br />Compared to Median Individual Income <br />Seven County Metro Area <br />Third Quarter 2004 <br />0 <br />• l0th Percentile Income of Occupation <br />❑ Median Income of Occupation <br />�4 0 0 0 q.)�� <br />�,�k0 r�� �o <br />� �o <br />� o°o <br />bb aro <br />0 <br />w <br />�� $� �� ����� C�� <br />o , <br />,off so ko <br />ro <br />'`te <br />Table 10 presents covered employment in Anoka County in 2000 and 2004 (the most recent <br />available data). Covered employment data is calculated as an annual average and reveals the <br />number of jobs in the County, which are covered by unemployment insurance. Most farm jobs, <br />self-employed people, and some other types of jobs are not covered by unemployment insurance <br />MAXFIELD RESEARCH INC. <br />20 <br />