Local Economic Area Report - Titusville, Florida › wp-content › uploads › 2019 › 02 ›...

Tammie Watts

LOCAL ECONOMIC AREA REPORT

Mims, Florida

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Copyright 2019 Realtors Property Resource® LLC. All Rights Reserved. Information is not guaranteed. Equal Housing Opportunity.

2/8/2019

Criteria Used for AnalysisIncome:Median Household Income

Age:Median Age

Population Stats:Total Population

Segmentation:1st Dominant Segment

$44,608 50.3 7,298 Senior EscapesTotal dollars:$44,608 out of $2,960

Total years:50.3 out of 7,298.0

Consumer SegmentationLife Mode UrbanizationWhat are thepeople like thatlive in this area?

Senior StylesSenior lifestyles reveal the effects of saving forretirement

Where do peoplelike this usuallylive?

SemiruralSmall town living, families with affordablehomes

Top TapestrySegments Senior Escapes Rooted Rural Southern Satellites

Modest IncomeHomes

HeartlandCommunities

% of Households 1,155 (39.0%) 810 (27.4%) 290 (9.8%) 283 (9.6%) 231 (7.8%)

% of Brevard County 9,120 (3.9%) 790 (0.3%) 3,936 (1.7%) 2,853 (1.2%) 7,683 (3.3%)

Lifestyle Group Senior Styles Rustic Outposts Rustic Outposts Hometown Cozy Country Living

Urbanization Group Semirural Rural Rural Urban Periphery Semirural

Residence Type Single Family, MobileHomes or Seasonal

Single Family orMobile Homes

Single Family orMobile Homes

Single Family Single Family

Household Type Married CouplesWithout Kids

Married Couples Married Couples Singles Married Couples

Average Household Size 2.19 2.47 2.65 2.56 2.38

Median Age 52.6 44.1 39.7 36.1 41.5

Diversity Index 42.5 28.2 38.6 33.3 29.6

Median Household Income $35,000 $38,000 $44,000 $22,000 $39,000

Median Net Worth $84,000 $72,000 $70,000 $13,000 $55,000

Median Home Value $110,000 $104,000 $119,000 – $89,000

Homeownership 76.1 % 80.5 % 78.6 % 46.3 % 79.3 %

Average Monthly Rent – – – $720 –

Employment Retired, Services,Professional orAdministration

Services, Professionalor Administration

Services, Professionalor Administration

Services orAdministration

Services or Professional

Education High School Graduate High School Graduate High School Graduate High School Graduate High School Graduate

Preferred Activities Take guided tours inthe U.S.. Belong toveterans' clubs;member ofAARP/AAA.

Shop with coupons;buy genericproducts. Go hunting,fishing.

Go hunting,fishing. Own a petdog.

Shop at low-costretailers, warehouseclubs. Play basketball.

Go hunting, fishing;ridemotorcycles. Participatein local activities.

Financial Bank in person Pay bills in person Shop at Walmart Pay bills in person Buy insurance fromagent

Media Watch news, sports,CMT, Golf Channel,AMC on TV

Listen to faith-basedradio, gospel music

Listen to countrymusic; watch CMT

Watch BET; listen togospel, R&B radio

Listen to country music;watch CMT

Vehicle Maintain older vehicle Own, maintain cars,ATVs

Own, maintain truck Take publictransportation

Own domestic truck,SUV

Mims, Florida

Copyright 2019 Realtors Property Resource® LLC. All Rights Reserved. Information is not guaranteed. Equal Housing Opportunity. 2/8/2019

Who We AreSenior Escapes neighborhoods areheavily concentrated in the warmer statesof Florida, California and Arizona. Theseareas are highly seasonal, yet owneroccupied. Many homes began asseasonal getaways and now serve asprimary residences. Forty percent aremobile homes; half are single-familydwellings. About half are inunincorporated and more rural areas.Over a quarter of the population are 65-74years old. Most are white and fairlyconservative in their political and religiousviews. Residents enjoy watching TV, goingon cruises, playing Bingo, golfing, boatingand fishing. They are very conscious oftheir health and buy specialty foods anddietary supplements.

Our NeighborhoodNeighborhoods include primary and secondhomes in rural or semi-rural settings.One quarter of all housing units are vacant;many are for seasonal use only.One-third of the households are marriedcouples without children; a third are single-person households.Half the homes are single family; another 40%are mobile homes.Three-quarters of all homes are owneroccupied, and the majority own their homesfree and clear.Still actively driving, most households haveone or two vehicles.

Socioeconomic TraitsLabor force participation is low, but more thanhalf the households are drawing SocialSecurity income.They have conservative political views.They spend majority of their time withspouse/significant other or alone.They are limited by medical conditions but stillenjoy gardening and working on their vehicles.They take good care of vehicles, but haven'tbought a new one in over five years.They only spend within their means, do theirbanking in person, and do not carry a balanceon their credit card.

Market ProfileStock up on good deals, especially high-fiber,low-calorie, low-fat and sugar-free foods.Own 3+ TVs and watch news, sports, CMT, GolfChannel and AMC.Belong to veterans' clubs; maintain AARP andAAA memberships.Get most information from TV and the Sundaynewspaper; struggle with computers and theInternet.Travel in the U.S. via guided tours but weary ofsecurity issues.Frequently dine out at Denny's, Golden Corraland Cracker Barrel

An overview of who makes up this segment across the United States

The demographic segmentation shown here can help you understand the lifestyles and life stages of consumers in a market. Data provider Esri classifiesU.S. residential neighborhoods into 67 unique market segments based on socioeconomic and demographic characteristics. Data Source: Esri 2017. UpdateFrequency: Annually.

This is the

#1dominant segmentfor this area

In this area

39.0%of households fallinto this segment

In the United States


About this segment

Senior Escapes

Mims, Florida


Who We AreRooted Rural is heavily concentrated inthe Appalachian mountain range as wellas in Texas and Arkansas. Employment inthe forestry industry is common, andRooted Rural residents live in many of theheavily forested regions of the country.Nearly 9 of 10 residents are non-Hispanicwhites. This group enjoys time spentoutdoors, hunting, fishing or working intheir gardens. Indoors, they enjoywatching television with a spouse andspending time with their pets. Whenshopping, they look for American-madeand generic products. These communitiesare heavily influenced by religious faith,traditional gender roles and family history.

Our NeighborhoodThis market is dominated by married couples,few with children at home.80% of homes are owner occupied: primarilysingle family (73%) or mobile homes (23%).Nearly one in five housing units are vacant,with a high proportion for seasonal use.Home values are very low--almost half ofowned homes are valued under $100,000.

Socioeconomic TraitsThrifty shoppers that use coupons frequentlyand buy generic goods.Far-right political values on religion andmarriage.Do-it-yourself mentality; grow their ownproduce and work on their cars and ATVs.Pay bills in person and avoid using the Internetfor financial transactions.Often find computers and cell phones toocomplicated and confusing.Clothes a necessity, not a fashion statement;only buy new clothes when old clothes wearout.

Market ProfileThey own a riding lawn mower, as well as agarden tiller, and have vegetable gardens.Only half of the households have a high-speedInternet connection.They use a satellite dish to watch CMT, theHistory Channel and GSN (Game ShowNetwork).Pets are popular--dogs, cats, and birds.Leisure activities include hunting and fishing.They listen to faith-based radio and gospelmusic.Many are on Medicare and frequent theWalmart pharmacy.



This is the


In this area




About this segment

Rooted Rural

Mims, Florida


Who We AreSouthern Satellites is the second largestmarket found in rural settlements, typicallywithin metropolitan areas located primarilyin the South. This market is generally non-diverse, slightly older, settled married-couple families, who own their homes.Almost two-thirds of the homes are single-family structures; a third are mobilehomes. Median household income andhome value are below average. Workersare employed in a variety of industries,such as manufacturing, health care, retailtrade and construction, with higherproportions in mining and agriculture thanthe U.S. Residents enjoy country living,preferring outdoor activities and DIY homeprojects.

Our NeighborhoodAbout 79% of households are owned.Married couples with no children are thedominant household type, with a number ofmulti-generational households.Most are single-family homes (65%), with anumber of mobile homes.Most housing units were built in 1970 or later.Most households own 1 or 2 vehicles, butowning 3+ vehicles is common

Socioeconomic TraitsEducation: almost 40% have a high schooldiploma only; 41% have college education.Unemployment rate is 9.2%, slightly higherthan the U.S. rate.Labor force participation rate is 59.7%, slightlylower than the U.S.These consumers are more concerned aboutcost rather than quality or brand loyalty.They tend to be somewhat late in adapting totechnology.They obtain a disproportionate amount of theirinformation from TV, compared to othermedia.

Market ProfileUsually own a truck; likely to service itthemselves.Frequent the convenience store, usually to fillup a vehicle with gas.Typical household has a satellite dish.Work on home improvement and remodelingprojects.Own a pet, commonly a dog.Participate in fishing and hunting.Prefer to listen to country music and watchCountry Music Television (CMT).Read fishing/hunting and home servicemagazines.Partial to eating at low-cost family restaurantsand drive-ins.Use Walmart for all their shopping needs(groceries, clothing, pharmacy, etc.).



This is the


In this area




About this segment

Southern Satellites

Mims, Florida


Who We AreFamilies in this urban segment may benon-traditional; however, their religiousfaith and family values guide their modestlifestyles. Many residents are primarycaregivers to their elderly family members.Jobs are not always easy to come by, butwages and salary income are still themain sources of income for mosthouseholds. Reliance on Social Securityand public assistance income isnecessary to support single-parent andmulti-generational families. High povertyrates in this market make it difficult tomake ends meet. Nonetheless, rents arerelatively low. Public transportation isavailable, and Medicaid can assistfamilies in need.

Our NeighborhoodHouseholds are single person or single parent(usually female householders).Multigenerational families are also present.Homes are predominantly single family; valuesreflect the age of the housing, built more than60 years ago.Over half of the homes are renter occupied;average rent is lower than the U.S. average.Most households have no vehicle or one car,with a high dependence on publictransportation.

Socioeconomic TraitsAlmost a quarter of adults aged 25 or morehave no high school diploma.Labor force participation is only 50%, withunemployment at more than double the U.S.rate.Income is less than half of the U.S. medianincome; one in three households are inpoverty, dependent on Social Security, publicassistance and Supplemental Security Income.Consumers in this market consider traditionalgender roles and religious faith very important.This market lives for today, choosing to saveonly for a specific purpose.They favor TV as their media of choice andwill purchase a product with a celebrityendorsement.

Market ProfileTo make ends meet, consumers shop atwarehouse clubs and low-cost retailers.Unlikely to own a credit card, they pay theirbills in person.This market supports multigenerationalfamilies; they are often primary caregivers forelderly family members. On average, ModestIncome Homes residents have a higherreliance on Medicaid.For entertainment, they listen to gospel andR&B music and prefer to watch BET.The recreational activity of choice for residentsis basketball.



This is the


In this area




About this segment

Modest Income Homes

Mims, Florida


Who We AreWell settled and close-knit, HeartlandCommunities are semirural andsemiretired. These older householdersare primarily homeowners, and manyhave paid off their mortgages. Theirchildren have moved away, but they haveno plans to leave their homes. Theirhearts are with the country; they embracethe slower pace of life here but activelyparticipate in outdoor activities andcommunity events. Traditional andpatriotic, these residents support theirlocal businesses, always buy American,and favor domestic driving vacations overforeign plane trips.

Our NeighborhoodRural communities or small towns areconcentrated in the Midwest, from olderRustbelt cities to the Great Plains.Distribution of household types is comparableto the U.S., primarily (but not the majority)married couples,more with no children, and a slightly higherproportion of singles that reflects the aging ofthe population.Residents own modest, single-family homesbuilt before 1970.They own one or two vehicles; commutes areshort.

Socioeconomic TraitsRetirees in this market depress the averagelabor force participation rate to less than 60%,but the unemployment rate is comparable tothe U.S.More workers are white collar than blue collar;more skilled than unskilled.The rural economy of this market providesemployment in the manufacturing,construction and agriculture industries.These are budget-savvy consumers; they stickto brands they grew up with and know the priceof goods they purchase. Buying American isimportant.Daily life is busy, but routine. Working on theweekends is not uncommon.Residents trust TV and newspapers more thanany other media.Skeptical about their financial future, they stickto community banks and low-risk investments.

Market ProfileTraditional in their ways, residents of HeartlandCommunities choose to bank and pay theirbills in person and purchase insurance from anagent.Most have high-speed Internet access at homeor on their cell phone but aren't ready to gopaperless.Many residents have paid off their homemortgages but still hold auto loans and studentloans. Non-interest checking accounts arecommon.To support their local community, residentsparticipate in public activities.Home remodeling is not a priority, buthomeowners do tackle necessary maintenancework on their cherished homes. They haveinvested in riding lawn mowers to maintaintheir larger yards.They enjoy country music and watch CMT.Motorcycling, hunting and fishing are popular;walking is the main form of exercise.To get around these semi-rural communities,residents prefer domestic trucks or SUVs.They prefer to travel in the U.S. and favor theconvenience of packaged deals.



This is the


In this area




About this segment

Heartland Communities

Mims, Florida


20172022 (Projected)

Total PopulationThis chart shows the total population inan area, compared with othergeographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2017Update Frequency: Annually


Population DensityThis chart shows the number of peopleper square mile in an area, comparedwith other geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2017Update Frequency: Annually


Population Change Since 2010This chart shows the percentage changein area's population from 2010 to 2017,compared with other geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2017Update Frequency: Annually

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Total Daytime PopulationThis chart shows the number of peoplewho are present in an area during normalbusiness hours, including workers, andcompares that population to othergeographies. Daytime population is incontrast to the "resident" populationpresent during evening and nighttimehours.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2017Update Frequency: Annually

Mims, Florida: Population ComparisonMims

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Daytime Population DensityThis chart shows the number people whoare present in an area during normalbusiness hours, including workers, persquare mile in an area, compared withother geographies. Daytime population isin contrast to the "resident" populationpresent during evening and nighttimehours.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2017Update Frequency: Annually


Average Household SizeThis chart shows the average householdsize in an area, compared with othergeographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2017Update Frequency: Annually


Population Living in FamilyHouseholdsThis chart shows the percentage of anarea’s population that lives in ahousehold with one or more individualsrelated by birth, marriage or adoption,compared with other geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2017Update Frequency: Annually

Women 2017Men 2017Women 2022 (Projected)Men 2022 (Projected)

Female / Male RatioThis chart shows the ratio of females tomales in an area, compared with othergeographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2017Update Frequency: Annually

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Median AgeThis chart shows the median age in anarea, compared with other geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2017Update Frequency: Annually


Population by AgeThis chart breaks down the population ofan area by age group.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2017Update Frequency: Annually

Mims, Florida: Age ComparisonMims

Mims, Florida


MarriedUnmarried

Married / Unmarried AdultsRatioThis chart shows the ratio of married tounmarried adults in an area, comparedwith other geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2017Update Frequency: Annually

MarriedThis chart shows the number of people inan area who are married, compared withother geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2017Update Frequency: Annually

Never MarriedThis chart shows the number of people inan area who have never been married,compared with other geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2017Update Frequency: Annually

WidowedThis chart shows the number of people inan area who are widowed, comparedwith other geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2017Update Frequency: Annually

DivorcedThis chart shows the number of people inan area who are divorced, compared withother geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2017Update Frequency: Annually

Mims, Florida: Marital Status ComparisonMims

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Average Household IncomeThis chart shows the average householdincome in an area, compared with othergeographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2017Update Frequency: Annually


Median Household IncomeThis chart shows the median householdincome in an area, compared with othergeographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2017Update Frequency: Annually


Per Capita IncomeThis chart shows per capita income in anarea, compared with other geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2017Update Frequency: Annually

Average Disposable IncomeThis chart shows the average disposableincome in an area, compared with othergeographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2017Update Frequency: Annually

Mims, Florida: Economic ComparisonMims

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Brevard CountyFloridaUSA

Unemployment RateThis chart shows the unemploymenttrend in an area, compared with othergeographies.Data Source: Bureau of Labor Statisticsvia 3DLUpdate Frequency: Monthly

Employment Count byIndustryThis chart shows industries in an areaand the number of people employed ineach category.Data Source: Bureau of Labor Statisticsvia Esri, 2017Update Frequency: Annually

Mims, Florida


Less than 9th GradeThis chart shows the percentage ofpeople in an area who have less than aninth grade education, compared withother geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2017Update Frequency: Annually

Some High SchoolThis chart shows the percentage ofpeople in an area whose highesteducational achievement is some highschool, without graduating or passing ahigh school GED test, compared withother geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2017Update Frequency: Annually

High School GEDThis chart shows the percentage ofpeople in an area whose highesteducational achievement is passing ahigh school GED test, compared withother geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2017Update Frequency: Annually

High School GraduateThis chart shows the percentage ofpeople in an area whose highesteducational achievement is high school,compared with other geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2017Update Frequency: Annually

Some CollegeThis chart shows the percentage ofpeople in an area whose highesteducational achievement is somecollege, without receiving a degree,compared with other geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2017Update Frequency: Annually

Mims, Florida: Education ComparisonMims

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Associate DegreeThis chart shows the percentage ofpeople in an area whose highesteducational achievement is an associatedegree, compared with othergeographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2017Update Frequency: Annually

Bachelor's DegreeThis chart shows the percentage ofpeople in an area whose highesteducational achievement is a bachelor'sdegree, compared with othergeographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2017Update Frequency: Annually

Grad/Professional DegreeThis chart shows the percentage ofpeople in an area whose highesteducational achievement is a graduateor professional degree, compared withother geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2017Update Frequency: Annually

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Average Commute TimeThis chart shows average commute timesto work, in minutes, by percentage of anarea's population.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2017Update Frequency: Annually

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How People Get to WorkThis chart shows the types oftransportation that residents of the areayou searched use for their commute, bypercentage of an area's population.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2017Update Frequency: Annually

Mims, Florida: Commute Comparison

Mims, Florida


Median Estimated Home ValueThis chart displays property estimates foran area and a subject property, whereone has been selected. Estimated homevalues are generated by a valuationmodel and are not formal appraisals.Data Source: Valuation calculationsbased on public records and MLS sourceswhere licensedUpdate Frequency: Monthly

12-Month Change in MedianEstimated Home ValueThis chart shows the 12-month change inthe estimated value of all homes in thisarea, the county and the state. Estimatedhome values are generated by avaluation model and are not formalappraisals.Data Source: Valuation calculationsbased on public records and MLS sourceswhere licensedUpdate Frequency: Monthly

Mims, Florida: Home Value Comparison

Mims, Florida


Best Retail Businesses: Mims, Florida

This chart shows the types of businesses that consumers are leaving an area to find. The business types represented by blue bars are relatively scarce in the area,so consumers go elsewhere to have their needs met. The beige business types are relatively plentiful in the area, meaning there are existing competitors for thedollars that consumers spend in these categories.Data Source: Retail Marketplace via Esri, 2017Update Frequency: Annually

Mims, Florida


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Realtors Property Resource® is a wholly owned subsidiary of the NationalAssociation REALTORS®.RPR offers comprehensive data – including a nationwide database of 164 millionproperties – as well as powerful analytics and dynamic reports exclusively formembers of the NAR.RPR's focus is giving residential and commercial real estate practitioners,brokers, and MLS and Association staff the tools they need to serve their clients.This report has been provided to you by a member of the NAR.

About RPR's DataRPR generates and compiles real estate and other data from a vast array of sources.The data contained in your report includes some or all of the following:

Listing data from our partner MLSs and CIEs, and related calculations, likeestimated value for a property or median sales price for a local market.Public records data including tax, assessment, and deed information.Foreclosure and distressed data from public records and RealtyTrac.Market conditions and forecasts based on listing and public records data.Census and employment data from the U.S. Census and the U.S. Bureau ofLabor Statistics.Demographics and trends data from Esri. The data in commercial and economicreports includes Tapestry Segmentation, which classifies U.S. residentialneighborhoods into unique market segments based on socioeconomic anddemographic characteristics.Business data including consumer expenditures, commercial market potential,retail marketplace, SIC and NAICS business information, and banking potentialdata from Esri.School data and reviews from Niche.Specialty data sets such as walkability scores, traffic counts and flood zones.

Update FrequencyListings and public records data are updated on a continuous basis.Charts and statistics calculated from listing and public records data are refreshedmonthly.Other data sets range from daily to annual updates.

Learn moreFor more information about RPR, please visit RPR'spublic website: http://blog.narrpr.com

Mims, Florida


Local Economic Area Report - Titusville, Florida › wp-content › uploads › 2019 › 02 ›...

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