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Exhibit 22: Change in Share of Living Arrangement by Tenure by Age of Householder (as a share of <br />overall population), Louisville, 2011-2021 <br />Source: ACS 5-Year Data Tables, 2007-2011, 2017-2021 <br />5% <br />3.9% <br />0% <br />0 <br />- o <br />fl-3. <br />-10% <br />-6.6% <br />Family <br />household <br />2.0% 1.6t,; <br />0-6% 0-5% 0.3�f; <br />-0.9% -1.1% <br />Lives alone Lives with <br />roommates <br />Owner <br />3. Yl� <br />0.7'f; 0.7% 1.5% <br />-2.9% <br />Family Lives alone <br />household <br />i 15 to 34 ■ 35 to 64 k 65 and o ld e r <br />Income Distribution <br />Renter <br />-0.2% -0.1% <br />Lives with <br />roommates <br />Income is an important determinant of housing choice, influencing both the type of housing a <br />household chooses (e.g., single-family detached, duplex, or a larger multifamily property) and <br />household tenure (e.g., rent or own). Key findings include: <br />■ Louisville is one of the highest earning cities in the county and has experienced a 50% <br />increase in median household incomes since 2011. <br />The number of high earning households in Louisville has increased significantly since <br />2011. Louisville experienced a 17% increase in the share of households earning greater <br />than $200,000 annually. The influx of high earning households could be due to the in - <br />migration of wealthier households, or due to wage increases for Louisville residents. <br />High homeowner incomes can contribute to rising home sale prices in a city, <br />contributing to an increasingly competitive housing market. <br />The median income for homeowner households in Louisville is roughly twice the <br />median income for renter households. <br />The reduction in households earning less than $75,000 annually could be caused by <br />lower income households moving out of Louisville as housing and other living costs <br />increase. <br />Median Household Income <br />As shown in Exhibit 23, the median household income for Louisville is just over $125,000 <br />annually.6 Louisville's median income is lower than Erie and Superior, but higher than Boulder, <br />Lafayette, and Longmont. Of comparison cities, Erie has the highest median income, and <br />6 The census defines income as, "income received on a regular basis (exclusive of certain money receipts such as <br />capital gains) before payments for personal income taxes, social security, union dues, Medicare deductions, etc. <br />Therefore, money income does not reflect the fact that some families receive part of their income in the form of <br />noncash benefits, such as food stamps, health benefits, subsidized housing." <br />ECONorthwest <br />21 <br />