Trends from Esri’s 2009/2014 Updated Demographics The U.S. Population Is Aging, Changing, and Struggling Highlights n The 2009/2014 demographic updates and projections were produced with proven methodologies. n Esri’s 2009 Updated Demographics reveal some of the key changes that affect us all. n Updated Demographics can be delivered in a wide range of geographies, formats, and variables. Recently updated by Esri’s data development team, the 2009/2014 demographic updates and projections were produced with proven methodologies to provide the highest possible level of accuracy. In the past year, changes in the nation’s economy have become extremely personal. The failure of the subprime mortgage market in 2007 extended its devastating impact in 2008, shaking the very foundations of the U.S. economy and touching every household in the country. Nearly everyone in the United States has been directly affected or knows someone who has been impacted by lifechanging events such as job loss, home foreclosure, reduced retirement savings, and lower home values. As ArcNews goes to press, the economy remains in recession. Esri’s 2009 Updated Demographics reveal some of the key changes. Housing Market The continuing slump in the housing market is now being affected by the economic downturn. Foreclosures rose 81 percent in 2008, with sharp increases since January 2009. Part of this foreclosure increase may be attributed to mortgage holders’ inability to make payments because of job losses. The 2009 median home value is $162,000, 11.3 percent lower than the 2008 figure. The decline in the 2008–2009 median home value has affected more than two-thirds of U.S. counties. Vacant housing units increased by more than 8 percent; the U.S. vacancy rate is now 11.2 percent. The 2009 homeownership rate of 66.2 percent is now slightly less than the rate in 2000. Economic Trends According to the National Bureau of Economic Research, the economy has been in recession since December 2007. The committee determined that the decline in economic activity in 2008 met the standard for a recession. Without seasonal adjustments, the unemployment rate rose to 10.6 percent. In the past year, 5.6 million jobs were lost. The economy continues to slow because of job losses, the drop in housing prices, lack of consumer confidence, and the credit crunch. Income Median household income did not grow in 2008. The U.S. median household income figure stands at $54,700. Thirty-seven percent of U.S. counties are experiencing declines in median household income. This decline will directly affect local consumer buying power, resulting in lower sales tax revenues for area governments. Median net worth declined by 7.6 percent to less than $98,000. Population In most markets, population growth and change slowed pervasively due to decreased in- and out-migration flows. The job market has not yet offered significant employment opportunities for movement, as the sluggish housing market has prevented people from moving to more productive regions. The fastest-growing areas from 2000 2008–2009 change in median home value in the United States by county. ket opportunity right down to the block group level. Banks and financial institutions are using the application to better understand local markets and the needs of their customers. U.S. government funding under the Troubled Asset Relief Program (TARP) has driven many to perform detailed neighborhood analysis around their branches so they can determine which locations are the most viable and where there should be Color-coded maps show intensity of a wide variety of data consolidation. variables, allowing market exploration in a geographic context. New Tools Ensure Accuracy and Ease of Use This release of ArcGIS Business Analyst Online is a leap forward in interacting with the types of geodemographic data that users in any organization need. Enhanced site comparison tools and new reports allow users to quickly gain knowledge of how their markets are performing now and assess future potential. In addition to the inclusion of 2009 demographic data updates and 2014 projections, the application includes new ways to visualize data and download it in a digestible format. Comparing a region or particular set of sites to identify both strong and weak performers can be done with a few mouse clicks, while benchmarking performance against key criteria is easy with workflow and export wizards. Improved support for data interchange with desktop applications, such as Microsoft Office and other common enterprise systems, is also included. Esri has tapped into its wealth of cartographic and charting experience, and ArcGIS Business Analyst Online contains simple menus and control wizards to automatically guide users to their most popular reports and help navigate the first-time user through the analysis process or automate benchmarking conditions through which to compare a firm’s real estate portfolio. Choose Level of Service Thousands of companies and individuals have already integrated ArcGIS Business Analyst into their decision-making processes, making it an important business resource. The application is available in different subscription levels, from onetime-only reports purchased using a credit card to premium subscription packages and specialized development services. Want to try it out? More than 100 variables are available free for guest users at bao.esri.com. For more information on what’s new in ArcGIS Business Analyst Online, visit www.esri.com/ whatsnewinbao. Change in median household income in 2008–2009 for the United States by county. to 2009 are counties that are adjacent to large metropolitan areas: • Flagler County, Florida • Kendall County, Illinois (Chicago metro area) • Rockwall County, Texas (Dallas-Fort Worth metro area) • Pinal County, Arizona (Phoenix metro area) Fastest-growing ZIP Codes are • • • • 89084 (North Las Vegas, Nevada) 89086 (North Las Vegas, Nevada) 89138 (Las Vegas, Nevada) 80238 (Denver, Colorado) 2000, this population has grown at a rate of 3.4 percent annually. The multiracial population is now 9.1 million, approximately 3 percent of the total U.S. population. The annual growth of this population segment is 3.2 percent. Esri’s 2009/2014 Updated Demographics Delivered in a wide range of geographies, formats, and variables, Esri’s Updated Demographics will also be available in ArcGIS Business Analyst Online, ArcGIS Business Analyst (desktop), ArcGIS Business Analyst Server, ArcGIS Online, and Address Coder and as ad hoc data. More Information For more information, visit www.esri.com/ demographicdata. For Additional Information About Esri Products Please call Esri at 1-800-447-9778. Contact your regional office www.esri.com/usa Contact your local Esri reseller www.esri.com/partners Outside the United States, contact your local Esri distributor www.esri.com/distributors Whether we like it or not, we’re all aging. The U.S. median age in 2009 is 36.9 years, an increase of 1.5 years since 2000. Population Diversity The “face” of America continues to change as more people arrive in the United States to seek the American Dream, or are born to those of various races and ethnicities. The most diverse states are California, New Mexico, and Texas, due in large part to the growth of the Hispanic population. The 2009 Hispanic population is 48.7 million or 15.7 percent of the U.S. population. From 2000 to 2009, this population segment has grown more than 3.5 percent annually. The Asian population in 2009 is 13.9 million or 4.5 percent of the U.S. population. Since