Neighborhood Research
June 21, 2016
Anthony,
I’ve got several sets of data, so we’ll start broad and drill down.
Savannah, GA:
Population of 145,000 with a median age of 32 years old.
Median Household Income: $43,307
88% of population graduated high school, while 28% graduated college. below the poverty line.
58% of the population have jobs and 22% live below the poverty line.
Drilling down into the Postal Zip Code data we find:
A population of 19,839 spanning 4.8 square miles, which includes 10,551 households. 59% of these households are multi-unit apartments. 68% of the residents here rent and there is a total occupancy rate across all housing of 75%.
Age of this population: 72% are 18-64 years old with a median age of 27. 43% of household types are non-family, with only 21% of residents being married. 89% have high school diplomas and 43% have graduated college.
Per capita income is $28,513 and median household income is $37,326 with 35.6% of people living below the poverty line.
**Note: This postal code includes S.C.A.D. (Savannah College of Art and Design) with an enrollment of 15,000 students. 2,600 of them are post-graduate degree seekers. International students make up 17% of the student body. Average annual cost of tuition is $59,000! So we’re talking some kids with money.
Drilling down into the immediate neighborhood:
We find a population of 1,509 people living within 0.4 square miles. The median age is 27 and 81% of residents are 18-64 years of age. 56% of the population is female. Also only 22% of residents are married and 60% of the 674 households are non-family.
Per capita income is $46,805 and median household income is $60, 313. 14.9% of residents live below the poverty line. The education level of residents shows 98% graduated high school and 76% graduated college. 12% of residents are foreign-born with the majority being either from Asia or Latin America.
75% of housing in this neighborhood are apartments with an occupancy rate of 63%. 67% of residents rent their housing unit.
Geographic mobility, which is a way of measuring how long residents have lived there, shows that 40.1% of residents moved into the area within the last year. Half this number moved in from nearby locales, so it maybe a growing area or due to turnover at the local college.
Work commuting shows that 9% work from home, 33% of residents walk to work, and another 4% bicycle to work.
Other location factors:
Location potential looks good as the bar would be just down the street from a couple of tourist attractions and across a square from where bike tours begin. The address sits between several large 4 star hotels, several B & B’s, cafes and restaurants. It is only a few blocks from River Street, which is a lively night life district.
I’m thinking the target customer would be a 33 year old who works at the nearby college and who lives with their future spouse. They have no children.
Seeing as how there will also be steady tourist trade, this location could have really strong walk-in numbers.
Okay, tell me what I’ve missed.
-Patrick
