City Council Agenda and Packet 2023 09 26 SP

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Data Analysis Key Findings Community Demographics Louisville grew at a moderate rate compared to other jurisdictions in Boulder County. ■ The city grew by 13% between 2011-2021, just ahead of Boulder and Superior which are the two slowest growing cities in Boulder County. However, population estimates from the State Department of Local Affairs showed that Louisville's population plateaued and began to decrease between 2018 and 2019 as housing growth slowed. This decrease has been exacerbated with the loss of 550 homes in the Marshall Fire at the end of 2021. ■ Assuming Louisville maintains the current percentage of Boulder County's population (6.3%) as it grows, Louisville is expected to grow by 20% from 2023 to 2047, or by 4,115 residents. Louisville has the highest median age when looking across comparison geographies in Boulder County and is aging faster than the County overall. ■ The median age in Louisville is 43 years old, an increase of 4 years over the last 10 years. Residents 65 and older is the only age bracket that increased over the past decade in Louisville. All other age brackets declined. Louisville is increasingly losing younger residents and families with children. ■ The city experienced a decline in residents under the age of 44, including those under the age of 19. ■ School enrollment has decreased for both elementary and middle schools in Louisville, indicating a decrease in younger families in the area. ■ The number of couple households with children decreased by 3%, while the number of couple households without children increased by 2%. ■ Overall, fewer younger individuals are moving into or staying in Louisville and rising housing costs are likely a major contributing factor. Homeownership rates have fallen across Boulder County. In Louisville, the homeownership rate dropped by 5%, the second highest decrease behind Superior (10%) ■ Homeownership rates for households between the ages of 15-34 decreased by 4% and by 7% for households between the ages 35-64. The number of family homeowner households decreased alongside an increase in family rental households. This could indicate that households who might have previously been able to purchase a home upon forming a larger household (e.g., getting married or having children) or getting older are no longer able to. Renter household trends indicate an inability to live alone and increased barriers to homeownership in Louisville. ECONorthwest 4 11