You might be surprised by what kind of people live in the area immediately surrounding the White Flint Metro station, at least according to a recent market study.
Esri, a large geographic information systems company, found that more than a quarter of the people who live within a one-mile radius of the White Flint Metro are “Metro Renters,” prone to hang out at wine bars, shop at Whole Foods and use Twitter.
The Tapestry Segmentation Area Profile was requested by the Montgomery Business Development Corporation to help a group of residents, property owners and county officials create the soon-to-be launched PikeDistrict.org. The website is meant to help market the White Flint/Pike District, where a slew of mixed-use redevelopment is planned.
Esri uses demographic information in U.S. neighborhoods to categorize people into 67 “distinctive segments based on their socioeconomic and demographic composition — then further classifies the segments into LifeMod and Urbanization Groups.”
Put plainly, the profile shows how many households in an area apply to which group and what preferences those groups have when it comes to housing, restaurants, technology use and other characteristics.
The top five type of White Flint residents, according to the 2014 study, follow below with Esri-provided descriptions:
1. Metro Renters: 27.2 percent of households
Residents in this highly mobile and educated market live alone or with a roommate in older apartment buildings and condos located in the urban core of the city. This is one of the fastest growing segments; the popularity of urban life continues to increase for consumers in their late twenties and thirties. Metro Renters residents income is close to the US average, but they spend a large portion of their wages on rent, clothes, and the latest technology. Computers and cell phones are an integral part of everyday life and are used interchangeably for news, entertainment, shopping, and social media. Metro Renters residents live close to their jobs and usually walk or take a taxi to get around the city.
Market Profile:
• Enjoy wine at bars and restaurants.
• Shop at Trader Joe’s and Whole Foods for groceries; partial to organic foods.
• Own a Mac computer and use it for reading/writing blogs, accessing dating websites, and watching TV programs and movies.
• Favorite websites: Facebook, Twitter, YouTube, and LinkedIn.
• Use a tablet for reading newspapers and magazines.
• Participate in leisure activities including yoga, Pilates, and downhill skiing.
• Shop for clothes at Banana Republic, The Gap, and Nordstrom.
2. Golden Years: 15.2 percent of households
Independent, active seniors nearing the end of their careers or already in retirement best describes Golden Years residents. This market is primarily singles living alone or empty nesters. Those still active in the labor force are employed in professional occupations; however, these consumers are actively pursuing a variety of leisure interests–travel, sports, dining out, museums, and concerts. They are involved, focused on physical fitness, and enjoying their lives. This market is smaller, but growing, and financially secure.
Market Profile:
• Avid readers, they regularly read daily newspapers, particularly the Sunday edition.
• They subscribe to cable TV; news and sports programs are popular as well as on-demand movies.
• They use professional services to maintain their homes inside and out and minimize their chores.
• Leisure time is spent on sports (tennis, golf, boating, and fishing) or simple exercise like walking.
• Good health is a priority; they believe in healthy eating, coupled with vitamins and dietary supplements.
• Active social lives include travel, especially abroad, plus going to concerts and museums.
• Residents maintain actively managed financial portfolios that include a range of instruments such as common stock and certificates of deposit (more than six months).
3. Enterprising Professionals: 14.8 percent of households
Enterprising Professionals residents are well educated and climbing the ladder in STEM (science, technology, engineering, and mathematics) occupations. They change jobs often and therefore choose to live in condos, town homes, or apartments; many still rent their homes. The market is fast-growing, located in lower density neighborhoods of large metro areas. Enterprising Professionals residents are diverse, with Asians making up over one-fifth of the population. This young market makes over one and a half times more income than the US median, supplementing their income with high-risk investments. At home, they enjoy the Internet and TV on high-speed connections with premier channels and services.
Market Profile:
• Buy digital books for tablet reading, along with magazines and newspapers.
• Frequent the dry cleaner.
• Go on business trips, a major part of work.
• Watch movies and TV with video-on-demand and HDTV over a high-speed connection.
• Convenience is key — shop at Amazon.com and pick up drugs at the Target pharmacy.
• Eat out at The Cheesecake Factory and Chick-fi l-A; drop by Starbucks for coffee.
• Leisure activities include gambling, trips to museums and the beach.
• Have health insurance and a 401(k) through work.
4. City Lights: 14.4 percent of households
City Lights, a densely populated urban market, is the epitome of equality. The wide-ranging demographic characteristics of residents mirror their passion for social welfare and equal opportunity. Household types range from single person to married-couple families, with and without children. A blend of owners and renters, single family homes and town homes, midrise and high-rise apartments, these neighborhoods are both racially and ethnically diverse. Many residents have completed some college or a degree, and they earn a good income in professional and service occupations. Willing to commute to their jobs, they work hard and budget well to support their urban lifestyles, laying the foundation for stable financial futures.
Market Profile:
• Price-conscious consumers, they seek out deals on brands they like at warehouse clubs, Walmart, or Target.
• Residents are traditional in many ways. They prefer to bank in person but are increasingly paying their bills online. They rarely carry a credit card balance but occasionally buy on credit.
• Most residents have high-speed Internet access at home and use their computers for basic browsing and some shopping. They find technology cumbersome, preferring to make a phone call rather than text. They aren’t that keen on social media either.
• These are health-conscious consumers, who purchase low-calorie and low-fat food.
• Dreaming of a brighter future, they often try their luck on the lottery.
• Their taste in music is varied, typically classic rock, alternative, or hip hop, and even classical music, listening during their daily commutes.
5. Laptops and Lattes: 11.6 percent of households
Laptops and Lattes residents are predominantly single, well-educated professionals in business, finance, legal, computer, and entertainment occupations. They are affluent and partial to city living–and its amenities. Neighborhoods are densely populated, primarily located in the cities of large metropolitan areas. Many residents walk, bike, or use public transportation to get to work; a number work from home. Although single householders technically outnumber couples, this market includes a higher proportion of partner households, including the highest proportion of same-sex couples. Residents are more interested in the stock market than the housing market. Laptops and Lattes residents are cosmopolitan and connected — technologically savvy consumers. They are active and health conscious, and care about the environment.
Market Profile:
• Support environmental groups, recycle faithfully, and contribute to arts/cultural organizations.
• Invest in mutual funds (bonds) and maintain retirement savings plans.
• Use their laptops, iPads, and mobile phones extensively to stay connected.
• Spend money on nice clothes, dining out, travel, treatments at day spas, and lattes at Starbucks.
• Physical fitness a priority, exercising at a club or other facility on a regular basis.
• Enjoy sports such as jogging/running, biking, tennis, soccer, skiing, yoga, and Pilates, as well as participating in fantasy sports leagues.
• Participate in leisure activities including painting, reading books or the newspaper on their iPad, watching movies rented from Netflix, hiking, backpacking, canoeing/kayaking, as well as going to bars/clubs, the beach, movies, art galleries, museums, the theater, opera, and rock concerts.
• Listen to classic rock, pop/top 40, classical, jazz, reggae, blues, folk, and alternative music.
• Favor organic food, purchasing groceries at higher-end markets
