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COMMUNITY PROFILE T A X D OLLA R S COMMUNITY PROFILE

POPULATION GROWTH

Oswego is located in Kendall County, one of the fastest growing counties in the nation. From 1980 to 2010, Kendall County grew at a compound annual growth rate (CAGR) of approximately four percent and is anticipated to grow at a CAGR of approximately two percent in the future. Growth in population, in addition to broader economic trends, will continue to drive new residential development in Oswego in the future.

Oswego’s population is projected to grow from 11,000 to 15,500 by 2025, and up to 35,000 by 2040. Year

According to census data, Oswego’s population as of 2014 is approximately 33,429. According to the most recent projections provided by CMAP, Oswego is projected to add over 35,000 new residents by 2040, nearly doubling in size.

Oswego Population

2000

13,326

2010

30,355

2014

33,429

2018 [1]

36,507-37,900

2025 [2]

43,944- 48,346

2040 [3]

69,155

Source: US Census, ESRI, CMAP [1] ESRI Estimate [2] SB Friedman Forecast, CAGR ranges from 2.8-3.8% [3] CMAP Estimate

RESIDENTIAL BUILDING PERMITS Single-family

Oswego is estimated to add between 11,082 and 15,483 people between 2014 and 2025. The population is forecasted to grow at a compound annual growth rate (CAGR) of 2.7 percent to 3.6 percent from 2014 to 2025 compared to 7.02 percent from 2000 to 2014.

2011

2012

2013

2014

2015

86

111

214

103

53

Duplex

0

0

0

14

Multi-family

24

0

0

10

Senior

60

3

18

63

19

Total

170

114

232

190

72

Forecasted population growth takes into account a number of growth assumptions including historical population growth, housing starts, household size and vacancy. The household size is anticipated to decrease slightly while vacancy is projected to remain constant. Housing starts are conservatively anticipated to increase from approximately 200 annual starts to approximately 400 to 550 units per year. It is not anticipated that housing starts will reach the frequency achieved during the housing boom, approximately 900 starts annually.

just like you, We have made osWego our home Here is how we are helping the growth in Oswego: • Contributed nearly $200,000 in scholarships to Oswego and Oswego East High Schools since 2007 • Almost $100,000 in athletic donations to both high schools • Financing local business growth • Founder of the Oswego Crosstown Challenge alliedfirst.com | 630-554-8899

Allied First Bank • 3201 Orchard Rd • Oswego IL 60543

WWW.OSWEGOCHAMBER.ORG

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Oswego IL Chamber Profile