downtown demographics
Surprising Results From New Downtown Living Survey
August 05, 2008 20:07 Filed in: Market
Analysis
The Austin Business Journal is running a survey on
its website that asks online readers the following
question: “Assuming you're not one of the thousands
moving downtown, why don't you want to make downtown
your home?”
While it is not a scientific survey -- to say the least -- the current results do provide some small insights into the obstacles that developers face in luring residents downtown.
As of the time of this posting, the survey had the following results as to why people choose not to live downtown (see the current results here). Survey says:
44% -- Too expensive
19% -- I need a yard
16% -- Other (no additional details)
7% -- Units are too small
6% -- Lack of neighborhood services
5% -- Traffic
4% -- Schools
Here is what is most interesting: the data suggests that 51% of people who don’t want to live downtown (44% who find units too expensive and 7% who find units too small which really means too expensive) would like to live downtown if it was more affordable. Even though just 1% of Austin’s population lives downtown, the idea of downtown living is appealling to a broad segment of the population -- at least the population of Austinites that reads the Austin Business Journal online!
The survey suggests that there are few intractable, structural barriors to downtown population growth. While, the 19% of people who need a yard will likely never move into a condo, they key driver for most people in the survey is affordability. As new projects continue to hit the market, it’s good news that lots of people do want to live downtown!
While it is not a scientific survey -- to say the least -- the current results do provide some small insights into the obstacles that developers face in luring residents downtown.
As of the time of this posting, the survey had the following results as to why people choose not to live downtown (see the current results here). Survey says:
44% -- Too expensive
19% -- I need a yard
16% -- Other (no additional details)
7% -- Units are too small
6% -- Lack of neighborhood services
5% -- Traffic
4% -- Schools
Here is what is most interesting: the data suggests that 51% of people who don’t want to live downtown (44% who find units too expensive and 7% who find units too small which really means too expensive) would like to live downtown if it was more affordable. Even though just 1% of Austin’s population lives downtown, the idea of downtown living is appealling to a broad segment of the population -- at least the population of Austinites that reads the Austin Business Journal online!
The survey suggests that there are few intractable, structural barriors to downtown population growth. While, the 19% of people who need a yard will likely never move into a condo, they key driver for most people in the survey is affordability. As new projects continue to hit the market, it’s good news that lots of people do want to live downtown!
Look! Is that a kid in a downtown condo?
July 08, 2008 21:33 Filed in: Market
Analysis
With the opening of Milago, the Shore, and 360 over
the last year or two, a few more kids have moved into
downtown condos with their parents. This is great
news for downtown diversity, given that -- amazingly
enough -- almost no kids lived downtown prior to the
recent wave of development.
In fact, the 2000 Census numbers are shocking in this regard. According to the government, 3,713 of 3,855 downtown residents (zip code 78701)in 2000 were adults 18 or over. That means that only 142 children representing 3.7% of the population lived downtown. Of this group, 46 were under 5 and the remaining 96 were between 6 and 17.
With only 3.7% of the population under 18, downtown Austin looks very different than the rest of the city where 22.5% of the population is under 18 and also very different from the U.S. at large where 25.7% of the population is under 18.
Why so few kids? There are a few reasons:
- Obviously, families with kids are avoiding living downtown. Downtown demographics show that a very large percentage of the downtown population is under 30 or over 50, and the average household size is an unusually low 1.49 -- significantly below the average family size of 2.59 in New York City. There are many singles downtown, and not that many married couples.
- Large apartments and condos are very expensive. For families who want 3 or more bedrooms, prices start well over $500k.
- The downtown schools are not as good as the top Austin suburban schools - especially in areas of the city with home prices as high as those downtown.
- There are limited amenities for children. Other than the Dell Children’s Museum and a playground at Whole Foods, the lack of kids downtown has meant a lack of parks and playgrounds for kids. For families who want other kids on the block, the lack of kids downtown discourages other families with kids from moving downtown.
As downtown evolves and the population grows, hopefully downtown will become more inclusive of families and children. Otherwise, the downtown population will inevitably be transatory, as young single marry and move back to the suburbs.
In fact, the 2000 Census numbers are shocking in this regard. According to the government, 3,713 of 3,855 downtown residents (zip code 78701)in 2000 were adults 18 or over. That means that only 142 children representing 3.7% of the population lived downtown. Of this group, 46 were under 5 and the remaining 96 were between 6 and 17.
With only 3.7% of the population under 18, downtown Austin looks very different than the rest of the city where 22.5% of the population is under 18 and also very different from the U.S. at large where 25.7% of the population is under 18.
Why so few kids? There are a few reasons:
- Obviously, families with kids are avoiding living downtown. Downtown demographics show that a very large percentage of the downtown population is under 30 or over 50, and the average household size is an unusually low 1.49 -- significantly below the average family size of 2.59 in New York City. There are many singles downtown, and not that many married couples.
- Large apartments and condos are very expensive. For families who want 3 or more bedrooms, prices start well over $500k.
- The downtown schools are not as good as the top Austin suburban schools - especially in areas of the city with home prices as high as those downtown.
- There are limited amenities for children. Other than the Dell Children’s Museum and a playground at Whole Foods, the lack of kids downtown has meant a lack of parks and playgrounds for kids. For families who want other kids on the block, the lack of kids downtown discourages other families with kids from moving downtown.
As downtown evolves and the population grows, hopefully downtown will become more inclusive of families and children. Otherwise, the downtown population will inevitably be transatory, as young single marry and move back to the suburbs.
Do Downtown Residents Work Downtown?
April 14, 2007 17:10 Filed in: Market
Analysis
One of the big questions has always been whether the
people who live downtown also work downtown, making
them less dependent on cars. If so, downtown
residents may need fewer cars and may become a core
constituency for the public transportation system.
With traffic an increasing problem, the more people
who are able to bike or walk to work, the better. The
results look positive.
Demographic analysis reveals the following facts about downtown residents:
- Less dependent on cars (60% drive to work v. 92% across Texas)
- High utilization of public transportation compared to Texans (14% take public transportation to work v. 2% across Texas)
- Crazy high walking / biking (19% bike or walk to work v. 3% across Texas)
- More work at home (7% work at home v. 3% across Texas)
- A quicker commute (16.3 minutes v. 20.8 minutes across Texas)
Demographic analysis reveals the following facts about downtown residents:
- Less dependent on cars (60% drive to work v. 92% across Texas)
- High utilization of public transportation compared to Texans (14% take public transportation to work v. 2% across Texas)
- Crazy high walking / biking (19% bike or walk to work v. 3% across Texas)
- More work at home (7% work at home v. 3% across Texas)
- A quicker commute (16.3 minutes v. 20.8 minutes across Texas)
Who lives downtown?
April 11, 2007 22:08 Filed in: Market
Analysis
If you are thinking of living downtown, who will be
your neighbors? This posting attempts to answer that
question by looking at the most recent census data
for 78701. 78701 is the predominant downtown zip
code: it includes the area between the lake and MLK
blvd and between Lamar and I-35. Virtually every
project covered by AustinTowers is within these
boundaries. The data is very interesting, but be
warned, the downtown market is changing fast and
their is always a lag with demographic information --
so next year's information will be very different as
thousands of new residents continue to migrate
downtown. In 8 years, the downtown population is
expected to grow by a factor of 5.
So who lives downtown?
- 4,322 people
- Not that many people ( just 4,322 at last count)
- Mostly Men (65% men and 35% women)
- Well Educated (52% have college degree v. 26% across Texas)
- Racially Diverse (61% white, 21% Hispanic, 9% African American, 3% Asian)
- Single, No kids (94% of households do not have kids, 22% households are married couples)
- Age groups without Kids (Lots of people 20-40 and over 70, very few people under 20)
- High Income ($55K per capita v. $21K across Texas)
See the full demographic profile here.
So who lives downtown?
- 4,322 people
- Not that many people ( just 4,322 at last count)
- Mostly Men (65% men and 35% women)
- Well Educated (52% have college degree v. 26% across Texas)
- Racially Diverse (61% white, 21% Hispanic, 9% African American, 3% Asian)
- Single, No kids (94% of households do not have kids, 22% households are married couples)
- Age groups without Kids (Lots of people 20-40 and over 70, very few people under 20)
- High Income ($55K per capita v. $21K across Texas)
See the full demographic profile here.
Austin Growth & Migration
February 21, 2007 21:17 Filed in: Market
Analysis
The Statesman ran its annual analysis of migration in
and out of Austin. The summary is that "More people
[are] moving here but not as many as during the
boom".
In the 1990's Austin grew by an incomprehensible 41% as it added more than 190,000 new residents. Growth comes from two source: net migration and organic growth. The net migration is the gain from people moving into the city while organic growth occurs when more people or born than die during the year. The Statesman stats focus only on migration. So what is the bottom line? A net gain of 8,079 households (approximately 19,400 people). Very solid growth but about 30% lower than the peak year, 2000. The counties that saw the most people coming to the region were overwhelmingly in California. Still, Austin population is growing at a very fast rate. Read More...
In the 1990's Austin grew by an incomprehensible 41% as it added more than 190,000 new residents. Growth comes from two source: net migration and organic growth. The net migration is the gain from people moving into the city while organic growth occurs when more people or born than die during the year. The Statesman stats focus only on migration. So what is the bottom line? A net gain of 8,079 households (approximately 19,400 people). Very solid growth but about 30% lower than the peak year, 2000. The counties that saw the most people coming to the region were overwhelmingly in California. Still, Austin population is growing at a very fast rate. Read More...