Demographic data was reviewed for a one mile and five-mile radius from the intersection York Road and Notre Dame Lane. Information sources included Claritas and the 2000 Census. Whenever possible, comparisons were made for 2002 and 2007 in order to provide a base for future financial market projections.
One-mile radius
In 2002 there were 28,984 individuals living in slightly over 10,000 households within a one-mile range of the study area. The majority of individuals, 66 percent, are African American, 33 percent are White and 1.29 are Hispanic or Latino. Over the next five-year period, population decreases, with the exception of the Hispanic and Latino population, which increases from 374 to 403 individuals. Total population decreases 4.35 percent to 27,776 individuals, the African American population decreases three percent to 18,425 individuals and the White population also decreases three percent to 8,015 individuals.
The majority of population, 30 percent or 8,773 individuals is under 18. Ten percent of the population is between 25 and 34, a key demographic group for many advertisers and retailers. Eleven percent of the population is over 65. These numbers remain fairly constant over the next five years
Over 10,000 individuals that are over the age of 25 have received some type of education.26 percent have received their high school diploma, 16 percent have attended college and 29 percent have completed college, professional school or graduate school. These numbers can play a significant role as marketing strategies to attract new businesses are developed. The relatively high educational attainment is supported by strong household incomes. The 2002 median household income was $45,580. This figure is expected to increase over $6,660 by 2007 to $52,215, indicating the potential for significant local spending power within the study area.
The retail trade area has strong homeownership rates. Over 57 percent of all housing units are owner occupied, with an average value of $132,418. Renters paid an average monthly rent of $560. 27 percent of homeowners had no mortgage, while 31 percent paid 20 percent or less of their income for housing costs and 22 percent paid 30 percent or more their income for housing costs.
Five-mile radius
The area within a five-mile radius of York Road and Notre Dame Lane also has the potential to be a strong market, and mirrors many of the trends found within the one-mile radius. The population is largely African American (66 percent), and while clearly a minority, the Hispanic and Latino population is the only group that increases in the fiver period from 2002 to 2007, from 1,097 individuals to 12,785 individuals.
This is a stable trade area, although perhaps not as prosperous. The 2002 median family income was $41,084 and is expected to increased more than $6,000 to $47,149 by 2007. Although educated, fewer individuals (22 percent) completed college or graduate school. High school graduates and those who attended some college represent the same percentages of the population as the one-mile trade area, 26 and 16 percent respectively.
The majority of the population is under 18; they are expected to remain the dominant age group in 2007 although their total population decreases from 166,075 individuals to 156,770 individuals. Individuals in the 25 to 34 age group decreases by over 4,800 individuals from 81,868 to 76,973.
Rates of homeownership and renters are comparable. 45 percent of total housing units were owner occupied, and 41 percent were renter occupied. The average house value was $104,761, while the average monthly rent was $543. 32 percent of the total owner occupied housing units had not mortgage. 30 percent of homeowners paid 20 percent or less of their income towards housing costs, while 20 percent paid 30 percent or more of their income towards housing costs, again comparable to the findings for the one-mile trade area.
Retail Trade Analysis
The complete 
Demographic Analysis