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Indian River County ranks fifth in the state in per capita income. Its per capita income in 2008 was $57,107, exceeding the state average of $39,064, according to the U.S. Bureau of Economic Analysis. The Quarterly Census of Employment & Wages reported by the Agency for Workforce Innovation indicates that workers in Indian River County were paid about $8,019 per quarter, on average, for the first quarter of 2010. This equates to an hourly wage of $15.42 and an annual wage of $32,076 based on a 2,080 hour work -year. (Source: 2010 Agency for Workforce Innovation Quarterly Census of Employment & Wages). Recent estimates show that about 10 percent of all Indian River County residents live at or below the poverty level, compared to 12 percent statewide. Over 16 percent of all children (birth to 17 years) are in households at or below the poverty level, compared to 17 percent statewide. The home ownership rate for Indian River County was reported at 78 percent for 2002. Home ownership was highest in Indian River Shores (96%), Orchid (95%), and Sebastian (87%), and lowest in Vero Beach (64%), Fellsmere (71 %), and the unincorporated areas of the county (78%). The median sales price for 2009 in Indian River County for a single family home was $160,500 and the average median sales price for a condominium was $110,000, according to the Shimberg Center for Affordable Housing, Florida Housing Data Clearinghouse. The average rent in 2000 was $615 per month compared to a statewide median rent of $641. With over 15,000 units of new construction projected for the unincorporated areas by 2025, housing in this area is expected to grow at twice the rate of the next highest area, Sebastian, which is projected to add nearly 7,000 units. In 2009, there were an estimated 48,638 homes and 17,967 multi -family units in Indian River County. In 2025 the demand for single-family homes is projected to be 62,597 and for multi -family units to be 17,295. To meet housing demands, the Shimberg Center projects that Indian River County will need 20,328 additional single family homes and 4,498 multi -family units by 2025. Construction reflects these projections. Housing starts in Indian River County totaled 14,089 from 2000 to 2005. Housing starts jumped 28 percent from 2002 to 2003 and jumped another 66 percent from 2004 to 2005. Modest increases were reported for the other years in this time Indian River County Comprehensive Emergency Management Plan Basic Page 53