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Economic Analysis 29
<br />Commercial Land Site - SWC of Middle Street and Market Place Drive
<br />Demographics
<br />A demographic summary for the defined area is illustrated as follows:
<br />
<br />As shown above, population within the 3-mile radius of the subject has increased since the 2010,
<br />and this trend is projected to continue at an annual rate of 0.7% over the next five years, which is
<br />consistent with county but trails state growth levels. Median household income within a 3-mile
<br />radius is $66,113 which is above county but below state levels. Overall, demographic trends
<br />within the subject's local area comparable to regional and state trends.
<br />
<br />
<br />SWC Middle St. & Market Place Dr., Little
<br />Canada, MN, 55117, Ramsey 1-Mile Radius 3-Miles Radius 5-Miles Radius 55117
<br />Little Canada
<br />City Ramsey County
<br />Minneapolis-St.
<br />Paul-
<br />Bloomington,
<br />MN-WI MSA Minnesota
<br />Population
<br />2010 Total Population 9,154 68,742 219,594 42,362 9,773 508,640 3,348,859 5,303,925
<br />2019 Total Population 9,751 73,138 232,886 45,014 10,336 541,557 3,661,687 5,715,341
<br />2024 Total Population 10,112 75,852 241,256 46,552 10,688 561,516 3,848,118 5,956,951
<br />Projected Annual Growth % 0.7% 0.7% 0.7% 0.7% 0.7% 0.7% 1.0% 0.8%
<br />Households
<br />2010 Total Households 4,086 28,366 84,131 16,188 4,393 202,691 1,299,635 2,087,227
<br />2019 Total Households 4,324 29,947 88,498 16,918 4,624 215,294 1,413,815 2,239,335
<br />2024 Total Households 4,468 30,988 91,437 17,415 4,769 223,008 1,483,235 2,330,022
<br />Projected Annual Growth % 0.7% 0.7% 0.7% 0.6% 0.6% 0.7% 1.0% 0.8%
<br />Income
<br />2019 Median Household Income $58,848 $66,113 $62,955 $52,084 $57,090 $63,368 $79,087 $69,559
<br />2019 Average Household Income $79,183 $90,299 $86,658 $71,479 $77,802 $88,977 $104,651 $93,505
<br />2019 Per Capita Income $35,955 $36,960 $33,084 $26,874 $34,804 $35,630 $40,480 $36,727
<br />Housing
<br />2019 Owner Occupied Housing Units 61.4% 61.6% 58.5% 52.0% 57.7% 55.7% 67.0% 64.4%
<br />2019 Renter Occupied Housing Units 32.8% 34.8% 36.3% 42.5% 38.3% 38.8% 27.5% 25.1%
<br />2019 Median Home Value $257,066 $263,930 $245,638 $225,296 $260,420 $248,779 $270,991 $240,868
<br />Median Year Structure Built 1976 1973 1968 1966 1978 1964 1978 1976
<br />Miscellaneous Data Items
<br />2019 Bachelor's Degree 24.2% 26.1% 23.8% 17.8% 22.5% 25.7% 27.4% 23.8%
<br />2019 Grad/Professional Degree 15.4% 17.1% 15.6% 11.0% 10.5% 18.3% 15.2% 12.9%
<br />2019 College Graduate % 39.6% 43.2% 39.4% 28.8% 32.9% 44.0% 42.7% 36.7%
<br />2019 Average Household Size 2.24 2.41 2.55 2.64 2.23 2.43 2.54 2.49
<br />2019 Median Age 43.5 39.2 36.1 33.6 40.5 36.3 37.6 38.7
<br />Source: ESRI; Compiled by NKF
<br />Demographic Analysis
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