TORONTO FINANCIAL DISTRICT BIAtorontofinancialdistrict.com/wp-content/uploads... · Toronto...
Transcript of TORONTO FINANCIAL DISTRICT BIAtorontofinancialdistrict.com/wp-content/uploads... · Toronto...
Toronto Financial District BIA 100 King St. W., Suite 5700, Toronto, ON, M5X 1C7
416.849.3856 | TorontoFinancialDistrict.com Page 1 of 3
TORONTO FINANCIAL DISTRICT BIA
SERVICE AREA DEMOGRAPHICS FROM CENSUS DATA September 10, 2014
BACKGROUND AND OBJECTIVE Attached demographic information was developed by Environics Analytics from Statistics Canada data up to 2013. Prepared for the Toronto Financial District BIA to better understand its market area, this
information may be of use to businesses or organizations also operating in the Financial District. NOTE: Data is limited in that it focuses on census information of the residential population. This
does not accurately reflect the impact of daily commuters who work in the area each day.
SERVICE AREA DEFINITION Data is generated for the service area surrounding the Toronto Financial District BIA’s defined catchment for its special
levy on commercial property taxes. The area is primarily the Spadina-University-Yonge-Jarvis corridors extending from
the waterfront in the south to College Street in the north.
ATTACHED MATERIALS Pg. 2-3 Comparison of key Service Area demographics to Toronto average
Pg. 4-6 Infographics on lifestyle and expenditures of residents within Service Area
Toronto Financial District BIA 100 King St. W., Suite 5700, Toronto, ON, M5X 1C7
416.849.3856 | TorontoFinancialDistrict.com Page 2 of 3
COMPARISON OF SERVICE AREA TO TORONTO AVERAGE
The following charts show the contrast between the demographics of the Financial District service area defined in the map above and the Toronto average defined by the City boundaries.
Trade Area – Area of the Toronto Financial District BIA shown on map
Benchmark – City of Toronto boundaries
Toronto Financial District BIA 100 King St. W., Suite 5700, Toronto, ON, M5X 1C7
416.849.3856 | TorontoFinancialDistrict.com Page 3 of 3
The Financial District BIA service area is home to more than 90,000 residents who spend a total of $5.8 billion in aggregate annually. The area is comprised of apartment renters who are under the age of 45. This area also hosts a total of 440,856 people who work within the service area - that’s more than four times the amount of those who call the Financial District home.
Dollars quoted reflect yearly average household expenditure unless otherwise stated
KEY FACTSPOPULATION
92,236Service Area
AGE
Under the age of 45
67%EDUCATION
University educated
57%income
Average household income
$106,396
97%Live in
apartments
57%Are renters
44%Walk to work
this is more than five
times the average*
$3,676Spent on food
from restaurants
$356Spent on art, antiques and
decorative ware
$290Spent on live
performing arts
$274Spent on womensjewellery
SPEND HIGHLIGHTS
$EXPENDITURE
$5.8 BillionTotal expenditure
$103,882Per householdexpenditure
Top 5 Spend Categories
23% on Shelter$23,613
10% on food$10,835
9% on transportation$9,168
5% on recreation$5,310
5% on clothing$5,086
Sources: PRIZMC2, DemoStats 2014, DaytimePop 2014,HouseholdSpend 2014*compared to Toronto CSD
$1,155Spent on furniture
24% above average
Service Area Demographics
CONFIDENTIAL Prepared by Environics Analytics
$106,396 Slightly above average
University educated
White collar workers
Young singles; .
living alone or with one other
Rent, High-rise
apartments
21% Car
29% Transit
44% Walk
3% Cycle
Index = 43 Index = 80 Index = 603 Index = 145
belong to a visible minority
English
French
Non-Official
The Financial District BIA service area population is comprised of apartment renters under the age of 45. This group of successful young singles and couples are highly educated with 57% of those who live within the service area holding a university degree. They have careers in white collar industries such as management, finance, education, and government positions. Residents within the service area earn a household income that is slightly above average, however their disposable income is understated given the high rates of single earner households. The majority of this group are Canadian born and of Caucasian descent, but there are also sizeable Chinese, South Asian and Black populations.
Multiple Languages
Source: PRIZMC2, DemoStats 2014, DaytimePop 2014 Benchmark: Toronto CSD
Index: <85 86-109 110-120 121-150 151+
Index = 98
1 person hhld: Index = 171; 2 person hhld: Index = 114
Single: Index = 147
Rent: Index = 125; High-rise apartments: Index = 205
Index = 166
Index
152
70
83
51
76
145
123
85
165
169
19.2%
9.9%
7.5%
2.6%
2.3%
2.3%
2.2%
1.6%
1.6%
0.8%
Chinese
South Asian
Black
Filipino
Latin American
Korean
Southeast Asian
West Asian
Arab
Japanese
$1,155 per household
24% above average 42% of household
furnishings and equipment budget
(Compared to 39% in benchmark)
Service Area Expenditure
CONFIDENTIAL Prepared by Environics Analytics
$3,676 per household
45% above average 34% of food budget is allocated to restaurants (Compared to 27% in
benchmark)
Source: HouseholdSpend 2014
$103,882 8% above average
$290 per household 75% above average
11% of recreation budget is allocated to live performing arts
$210 per household 31% above average
8% of recreation budget is allocated to movie theatres
$122 per household 14% above average
5% of their entertainment budget is spent on live sports events
Women’s and Girl’s Clothing
$2,762 per household 12% above average
54% of clothing budget is allocated to women’s and girl’s
clothing
Men’s and Boy’s Clothing
$1,762 per household 9% above average
35% of clothing budget is allocated to men’s and boy’s
clothing
Women’s Jewellery
$274 per household 13% above average
5% of women’s and girl’s clothing budget is allocated to jewellery
$7,083 per household
Average 65% of food budget is
allocated to stores (Compared to 73% in
benchmark)
Benchmark: Toronto CSD
Note: All figures represent annual spend