Growth slowing in Eagle County, report says
Eagle County, CO Colorado
EAGLE COUNTY, Colorado ” Population growth has slowed in many parts of Eagle County, Colorado so far this decade, but the valley is still growing, says a study released Wednesday by the Eagle County Economic Council.
The county’s population nearly doubled between 1990 to 2000, which breaks down to 10 percent growth a year.
Between 2000 and 2007, the population has only grown about 3 percent a year. While Vail’s population was stable, downvalley towns are still growing rapidly. Eagle grew by 11.8 percent and Gypsum, 7.6 percent. There are also more people per household in downvalley towns.
The study also says the county is getting older. By 2035, people 61 and over will account for 22 percent of the population. In 1990, there were 194 people older than 76 (representing 1 percent of the population) but the state predicts that number will grow to 6,487, or 6 percent of the population.
During the same time period, state demographers predict the “family age group” “people between 26 and 45 ” will decline from 40 percent of the population in 2005 to 24 percent of the population in 2035.
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The aging of population is likely to make it harder for younger workers to find housing, the study says.
In breaking down the cost of living in Eagle County, the study found a single adult would have to make $10.81 an hour or $22,836 to be self-sufficient in Eagle County. A family of two adults, a student and a preschooler has to make $13.44 an hour per adult or $56,762 a year to be self-sufficient, based on a monthly housing cost of just under $1,300.
The study also found that that while the unemployment rate spikes every year at the end of ski season the increase was higher in 2008 and did not fall as low as it usual does at the beginning of ski season.