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increasingly competitive housing market. Even if renter households have the ability to qualify <br />for a mortgage, they may risk being outbid by wealthier homebuyers who can pay in cash or <br />offer over the asking price. In addition to renters experiencing more instability in where live, <br />homeownership is an important pathway to wealth accumulation and financial stability in the <br />United States. Homeowners may benefit from property appreciation, mortgage interest <br />deductions, and the ability to build equity, while renters miss out on these advantages. <br />Household Wages <br />Exhibit 29 shows the aggregate sources of all income in Louisville and comparison geographies <br />from 2012 to 2021. Sources in income have shifted in Louisville as the share of older adults has <br />increased, reflected in the increase in retirement and social security income in the City. In <br />addition, the share of income from interest, dividends and rent increased, likely a reflection of <br />the increase in older or higher income households that are more likely to earn income through <br />investments. Because the share of these forms of income increased relative to income earned <br />through wages, these findings corroborate other data suggesting a decrease in younger wage <br />earners in the City. These income trends are also true for Lafayette and Boulder; in Denver, the <br />share of wages increased relative to other forms of income. <br />Exhibit 29: Sources of Household Income <br />Source: ACS 5-year, 2011, 2021 <br />Interest/Dividends/Rent <br />Louisville- 0-30+1.2 <br />c <br />o Lafayette- 0 -------- 30+4.8 <br />Cn <br />a <br />!3 Denver - CO-0.3 <br />Boulder- H0+1.7 <br />Other Retirement <br />C* —0-1.3 410+1.3 <br />Ce-----o-o.8 ��+2.5 <br />C*---0-0.6 )D+0.0 <br />ce �-1.1 iD+1.6 <br />Social <br />Security/Public Wages <br />Assistance <br />of Aggregate Household Income <br />Year • 2012 0 2021 <br />Employment and Commuting <br />clli-�-2.4 <br />0l!--�-6.4 <br />•-iD+1.6 <br />Chi•-2A <br />Understanding employment trends and commuting patterns can provide insights on the <br />housing needs of workers today and into the future. Employment plays an important role in <br />where people live, and it can influence where people move. If the data shows that many people <br />are commuting into the city for work, it could indicate that the city does not have enough <br />ECONorthwest <br />25 <br />32 <br />