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Annual Data and Assumptions Report December 2020

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Annual Data and Assumptions Report December 2020 Annual Data and Assumptions Report December 2020 COMMUNITY & STRATEGIC PLANNING DIVISION DEVELOPMENT SERVICES DEPARTMENT 410 E 5TH STREET • LOVELAND, CO • PH. 970-962-2745 • www.CityofLoveland.org/DC Top: Rialto Theater Left: A City with HeART Middle: Downtown Loveland Right: Northern Colorado Regional Airport ANNUAL DATA AND ASSUMPTIONS REPORT 2019 Welcome This report provides general the City to assist in preparing reports, presented in this report. The report will information regarding the City’s feasibility studies, market studies, etc. be updated annually. people, housing, and economy. This It is intended that access to this central information is intended to serve as the source of information will ensure better Data in this report is for 2019 and basis for projections and assumptions consistency in the assumptions and generally does not reflect the in operational and financial plans information included in such reports. economic impacts of the COVID-19 generated by City departments and For example, all documents, plans, web pandemic. 2020 data is presented divisions. We also hope this report pages, and information disseminated where available, but will be covered will provide information for citizens, from City departments should quote more completely in the 2021 report. organizations, and businesses outside population numbers or estimates as REGIONAL CONTEXT 1 ECONOMY 15 Commercial Vacancy Rates.................................15 LOCAL SNAPSHOT 2 Commuting Mode (mode split) ..........................16 Land Area and Annexations ..................................3 Household Income .............................................17 Median Family Income .......................................18 PEOPLE 4 Educational Attainment ......................................18 Population and Housing Estimates and Consumer Price Index.........................................19 Projections ............................................................4 Labor Force & Unemployment Rate ..................19 Population Age Distribution .................................6 Employees by Industry Type ...............................20 Race, Ethnicity and Sex .........................................7 Loveland’s Largest Employers .............................20 Households by Type..............................................7 Sales and Use Tax ................................................21 Residence One Year Ago .......................................8 Property Tax ........................................................21 Disability Status ....................................................8 Sales Tax Rate .....................................................22 Personal Income Tax ..........................................22 HOUSING 9 Centerra Fee District ...........................................22 Housing Tenure .....................................................9 Corporate Income Tax ........................................22 Residential Building Permits ...............................10 Food and Home Consumption Tax Rate .............22 Dwelling Units by Type .......................................11 Average Home Sale Price ....................................12 Residential Inventory ..........................................13 Apartment Vacancy Rate ....................................14 Median Rent .......................................................14 Image: Lake Loveland & Scuplture ANNUAL DATA AND ASSUMPTIONS REPORT 2019 HOW DOES THIS DATA WORK? Loveland is a home rule municipality Since the Census only happens every Certain, more localized data sets, such who has a strong collaborative 10 years, most of the information is as vacancy rates or building permits relationship with the North Front based on the ACS estimates because it can be aggregated on an annual basis. Range Metropolitan Organization is an ongoing survey that provides vital Therefore, these data sets are able to and the State Demographer’s Office. information on a yearly basis. have 2019 year end numbers. These Understanding the numbers in more granular numbers, in turn, are this report is crucial as it provides The challenge with this information used in helping Loveland project how it foundational information regarding being collected, is it must be sorted will budget and where it will see change the City’s demographics. and analyzed prior to distribution, and over the coming years. thus, the actual numbers are based on The majority of the information the most recent ACS 5-year estimates For any additional questions, please contained in this document comes which are from 2014 to 2018. All of the contact: from the U.S. Census Bureau and other short-term forecasts, i.e. 2020 Community & Strategic Planning the American Community Survey and 2021, are calculated on proposed P: 970.962.2745 (ACS) 5 Year Estimates (ACS is projects and other economic factors. E: [email protected] a part of the Census Bureau). REGIONAL CONTEXT Loveland is located in the emerging and dynamic Northern Colorado region. With a population of 77,231 at the end of 2018 within a 35 square mile area, Loveland has enjoyed a steady population growth of approximately two percent annually over many years. The community is located 46 miles north of downtown Denver on the I-25 Corridor. Nestled in a valley at the entrance to the Big Thompson Canyon with a short ride to the Rocky Mountain National Park, Loveland is known as the Gateway to the Rockies. 1 Annual Data and Assumptions Report 2020 LOCAL SNAPSHOT • Incorporated: 1881 • Recreation: • Government Type: Home Rule Municipality 492 acres of park land 30 natural areas/open spaces • County: Larimer 35 city parks and 1 sports complex • Population: 79,150 5,413 acres of preserved open lands 28 miles of recreational trails • Land Area: 35.63 Square Miles Outdoor fitness park • Housing Units: 32,587 3 golf courses and a mini course • Education and Schools: Lake Loveland Swim Beach Thompson R2J School District Senior center & community rec center Aims Community College Outdoor swimming pool Colorado Christian University • Transportation: Nearby colleges include: Northern Colorado Regional Airport Colorado State University (Fort Denver International Airport, DIA (70 Collins), University of North Colorado miles) (Greeley), University of Colorado at City of Loveland Transit (COLT) Boulder FLEX Bus Route • Median Home Sale Price: $409,236 I-25, Hwy 34, Hwy 287 • Median Family Income: $80,724 • Shopping Centers: Downtown Loveland *All data from City of Loveland or ACS 2015-2019 5 Year Summaries Promenade Shops at Centerra City Limits Map Updated: July 2019 NELSON RESERVOIR R D S N C U IN D BR Y L N E COUNTY ROAD 30 LOUDEN DITCH E COUNTY ROAD 30 E 71ST ST 7 1ST ST UNTY ROAD 30 1 W 7 E CO DONATH LAKE D A A O ME R R N I CA Y N F T O R A N K S A S T U N O K KA C L W 69TH CT W 69TH ST N I P N N L A AV AW N N L C KL LOVELAND E T T A C O E AG IND W 67TH CT R DEW TRAVERS STAKES ST W 67TH ST O T TRA H C T C S C R L AN E N T O O C O A H N U U SC D W 66TH ST AG L EN SE D 9 A I 1 S T I D D C A B W 65TH ST E H O D R R CITY LIMITS U Y SE W 65TH ST ED T R WI N STERIA DR A E 3 U L N 1 G O R G U Y I D C I L A T A N Northern Colorado C L W R N R ROCKWELL AVE C O C N D D R G L E I O L R I E PK N Y T E T V T A D S O KIEL I AR LN W N Regional Airport (FML) R O R R K U W D V A G C O T N O N D O C C A R R D N SE G N O M Y B U AN Z A C L A A EA A 1 V EO 64TH ST L W O R C 1 R L AR S E D E O M K C BO U D M R V R A I A A T A N D D V T Y O S E O T T V AT T N T N E A U A D I R S C H A L O C O AN O E A R D L Y H N S C L K I R T A G ME DR MA D T E E E U K H N C E O N L H E C L V E A O O N T T U E R G P E I V R A E L AR BO I T L A I A D Y R O O R S D A C V C T H T R I C D W V A T H N C R E L D T T Y C C A N N E D E A E N W E W T T N H R E E MO E E I H A O W R L C E S R A G S H R S I D E L L D G P K I R E D S R R L A N V C V I S P O R W PPLE D A N RY DR N A A N BER O R O YC N L ME M L R E KN U P G PU K P Windsor N O AS BOEING DR C O A M T S BERRY DR S APPLE DR E 57TH ST W 57TH ST BR E V A E EARHART RD R T R LAZEAR ST FLORISSANT R EARHART RD V ST D D D R A PI E AN S L E A D R H T COL R UMBIN E R E E D V D R N I T T E H G A E V U R N A S E CHIVINGTON ST V R H L A G F Y CHESTNUT DR L N D A B D EA F R JA EY O A R T I IR T N C A M PTARMIGA E E F E M R L T G F S F L B N A D A D U M D R U A M OEHNE ST T U R AROYA ST H A GOLDCO DR N G R D H C G I N VE LN T KAISER L ARENA CIR O TAFT I BOYD LAKE D R D PTA ST E N D FARMS T N RM IG A V U C AN E E PL R C G A T U G L N R E D D R L E L C L U A G L R EA N VONA DR S O S D A T ER P L E T RANCH ACRES DR CES S N T S AR D P R H O AF E L R A W R W C C H L I CORAL BURST DR I L C AND T WETL BA AT AT E I A M C AV N R Y BE BY R A S E O AV G ST R ER D R ST D AP R D E P O D C O ORCHARD DR M T R A R I B I H E E B D A T R O C R S O L A R R N T O S P AL R N IM O R A W B A T A TIMBERLAND I BU C L C RST ST N D U 2N R R W 5 R M O R A A ST E R R D O T C G A T T D A S D F ST E D N Y V FARMLAND V UL R G V R E D E W W 51ST ST A EGNAR ST L ST C D O FALL G I N ST N I N N R MA A O DRYLAND E AR L E E V D ST E A E 50TH ST NATURITA ST ST R V A G C RABA W 50TH ST PPL N A E DR T R S HOMELAND EDGEWOOD DR US W 50TH ST E W 50TH ST IRR ALADAR DR V T ST D C VE DR H U K A A E 48TH ST A M BA L A E E T F N O W 50TH ST HORSESHOE LAKE R A F RADIANT DR P MASSADONA PL E V S E Y E I O U W S E L NTER PARK ST E A WI S T ST Y T BAMA AV L N I A T AL V T L L C BE T S L A L D O I C D E E T I 4 A SU A W O C C SE P S D W 1.
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