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Population Growth and Forecast <br />Population growth and household formation are the major factors in understanding housing <br />demand. The rate of population growth and household characteristics heavily influence the <br />demand for specific housing types. <br />Population Growth <br />Louisville is the second smallest of comparison cities on a population basis. As of 2021, <br />Louisville had 20,855 residents, representing 6.3% of Boulder County's overall population. <br />Exhibit 1: Population, Louisville and Comparison Geographies, 2021 <br />Source: Colorado Department of Local Affairs <br />13,053 20,85E <br />Superior Louisville <br />31,035 31,303 <br />Lafayette Erie <br />99,414 106,978 329,793 <br />Longmont Boulder Boulder County <br />Exhibit 2 shows the change in population from 2011 to 2021. Over the time period, Louisville <br />grew by just under 2,500 residents, or 13%. Of comparison cities, Erie grew at the fastest rate <br />(70%), and Superior grew by the slowest (4%). <br />Exhibit 2: Change in Population, Louisville and Comparison Geographies, 2010-2021 <br />Source: Colorado Department of Local Affairs <br />Erie <br />18,432 <br />31,303 <br />12,871 <br />70% <br />Lafayette <br />24,545 <br />31,035 <br />6,490 <br />26% <br />Longmont <br />86,526 <br />99,414 <br />12,888 <br />15% <br />Louisville <br />18,406 <br />20,855 <br />2,449 <br />13% <br />Boulder County <br />295,605 <br />329,793 <br />34,188 <br />12% <br />Boulder <br />97,901 <br />106,978 <br />9,077 <br />9% <br />Superior <br />12,497 <br />13,053 <br />556 <br />4% <br />Note: The Colorado State Demography Office will release 2022 estimates in the coming months which will show a decrease <br />in Louisville's population, likely due to the Marshall Fire. The estimate is expected to show Louisville falling below 20,000 <br />residents. <br />Population Forecast <br />The Colorado Department of Local Affairs does not provide local population forecasts for cities <br />and towns, only for counties. ECONorthwest developed a population forecast based on the <br />Boulder County's population forecast of 389,233 residents. Assuming Louisville maintains the <br />current percentage of Boulder County's population (6.3%) as it grows, Louisville is expected to <br />grow by 20% from 2023 to 2047, a slightly higher rate than the County overall (17%).4 <br />4 Due to data availability (DOLA only calculates forecasts at the county level), ECONorthwest calculated the <br />Louisville's 2047 forecast using 2047 county population estimates and the Louisville's current share of the county <br />population. <br />ECONoahwest 9 <br />16 <br />