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Exhibit 22 shows rates of cost <br />burden for both Louisville and <br />Boulder County. Louisville has <br />slightly lower rates of cost <br />burden compared to the <br />County overall; in Boulder <br />County, 57% of renters are <br />cost burdened (versus 41% in <br />Louisville), and 22% of <br />homeowners are cost <br />burdened (versus 16% of <br />homeowners in Louisville). <br />Exhibit 22: Cost Burden Rates, Louisville and Boulder County, <br />2021 <br />Source: ACS 5-Year Data Tables, 2017-2021 <br />60% <br />50% <br />40% 32% <br />30% <br />28% <br />20% <br />10% <br />10% 8% 25% <br />8% 13% 12% <br />0% <br />Owners Renters I Owners Renters <br />Louisville I Boulder County <br />Cost burdened Severely cost burdened <br />Housing Demand and Future Needs <br />The following section details ECONorthwest's calculations of housing need, underproduction, and <br />affordability for Louisville. <br />Population Forecast Assumption <br />As previously discussed, population forecasts are only available at the county -level in Colorado. <br />To forecast future housing needs, an understanding or assumption of how the city could grow is <br />needed to establish a baseline projection. The population forecast provided by ECONorthwest <br />assumes that Louisville will maintain its current share of Boulder County's total population (6.3%) <br />and would therefore increase its population to about 24,614 residents by 2047, adding an <br />additional 4,115 residents. <br />Future Housing Needs <br />A key part of the HNA is to gain an understanding about the extent of total housing needed in <br />Louisville and the quantity of new housing needed for different income levels over the next <br />several decades. <br />Louisville Housing Plan Part 2: Housing Needs and Market Assessment 23 <br />