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Mr. Eric Zweber <br />WSB & Associates, Inc. <br />Age Distribution <br />December 19, 2017 <br />Page 10 <br />The age distribution of a community's population helps in assessing the type of housing and <br />commercial services needed. For example, younger and older people are more attracted to <br />higher density housing located near urban services and entertainment while middle-aged peo- <br />ple (particularly those with children) traditionally prefer lower -density single-family homes. In <br />terms of retail, younger people typically seek services such as entertainment, electronics, and <br />specialty apparel. Child stores increase in popularity for the 25 to 34 and 35 to 44 age cohorts <br />while home furnishings are more frequently sought by the 45 to 54 and 55 to 64 age groups. <br />Table 3 presents the age distribution of the Market Area population from 2000 to 2022. Infor- <br />mation from 2000 and 2010 is sourced from the U.S. Census. The 2017 estimates and projec- <br />tions for 2022 were calculated by Maxfield Research based on information from local building <br />permits and economic conditions. The following are key trends about the age distribution of <br />the Market Area's population. <br />• In 2017, we estimate that the largest adult cohort by age in Navarre is 45 to 54 totaling <br />63 people (19.4% of the total population), followed by the 55 to 64 age group with 56 <br />people (17.3%). The same trend was found in Orono where the two largest age cohorts <br />are also 45 to 54 (21.0%) and 55 to 64 (17.8%). <br />• The greatest growth is projected to occur among older adults. Aging of baby boomers <br />led to a 51.4% increase (+1,537 people) in the 55 to 64 population between 2000 and <br />2010 in Orono. As this group ages, the 65 to 74 and 75 plus age groups are projected to <br />experience rapid growth from 2017 to 2022, expanding 28.0% and 32.8%, respectively. <br />• A decline in the middle age cohorts is projected between 2017 and 2022 in Orono. The <br />45 to 54 age cohort is expected to decline 5.8%. <br />• The weak growth projected for the middle age population is a result of the compara- <br />tively small number of people who will move into those age cohorts between 2017 and <br />2022, a phenomenon known as the "baby bust." The "baby bust" is often referred to the <br />generation of children born between 1965 and 1980, an era when the United States <br />birthrate dropped sharply. <br />MAXFIELD RESEARCH AND CONSULTING, LLC <br />