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ECONorthwest's population projection for Louisville is show below in Exhibit 3, along with <br />DOLA's population forecast for Boulder County. <br />Exhibit 3: Population Forecast, Louisville and Boulder County, 2023-2047 <br />Source: Colorado Department of Local Affairs, ECONorthwest <br />Louisville 20,499 24,614 4,115 20% <br />Boulder County 331,429 389,233 57,804 17% <br />Demographic Information <br />Demographic information can be an indicator of a city's overall population trends; in this <br />report, ECONorthwest uses 2021 5-year American Community Survey (ACS) data, the most <br />current data available. The analysis also often includes 2011 5-year ACS data to illustrate trends <br />over time. Key findings include: <br />■ Louisville has the highest median age when looking across comparison geographies and <br />is aging faster than the County overall. <br />■ Fewer younger individuals are moving into or staying in Louisville and rising housing <br />costs are likely a major contributing factor. <br />Residents 65 and older is the only age bracket that increased over the past decade in <br />Louisville. All other age brackets declined. Older residents without affordable or <br />suitable options for downsizing or aging in place can contribute to a limited housing <br />stock, as more residents remain in their homes for longer periods of time. This can limit <br />the ability for younger age groups to find suitable or affordable housing options if new <br />opportunities are not created. <br />School enrollment has decreased for both elementary and middle schools in Louisville, <br />also indicating a decrease in younger families in the area. <br />Race and Ethnicity <br />Exhibit 4 shows the change in distribution of residents by race and ethnicity from 2011 to 2021. <br />In both Louisville and Boulder County, the majority of the population is White, with 82% <br />identifying as White in Louisville and 77% in the County overall. However, both jurisdictions <br />became more racially and ethnically diverse between 2011 and 2021. Notably, Louisville saw a <br />4% increase in its Hispanic population over the time period. <br />ECONorthwest 10 <br />17 <br />