commercial trade area report · are popular ways to navigate the city. socioeconomic traits...

Dirk Knudsen Broker / Founder Dirk Knudsen Real Estate

COMMERCIAL TRADE AREA REPORT

Orenco in Hillsboro, OR

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S |R|E |SOregon Real Estate License: 83800083

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M|a|i |n|: | |c |a|l |l |d|i |rk|@|g|m|a|i |l |. |c |o|mO|f f i |c |e|: | |h|t |t |p|: |/ |/ |www. |C|a|l |l |D|i |rk|. |c |o|mDirk Knudsen Real Estate Team6750 | |N|E | |A |L |D|E |R| |S |TH|I |L |L |S |B |O|R|O| |97124

Copyright 2020 Realtors Property Resource® LLC. All Rights Reserved. Information is not guaranteed. Equal Housing Opportunity.

1/20/2020

mailto:[email protected]

http://www.calldirk.com

Criteria Used for AnalysisIncome:Median Household Income

Age:Median Age

Population Stats:Total Population

Segmentation:1st Dominant Segment

$85,867 35.5 16,067 Metro Renters

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

Uptown IndividualsYounger, urban singles on the move

Where do peoplelike this usuallylive?

Principal Urban CentersYoung, mobile, diverse in metros of 2.5 + million people

Top TapestrySegments Metro Renters

EnterprisingProfessionals

Bright YoungProfessionals Soccer Moms

AmericanDreamers

% of Households 3,020 (42.7%) 2,606 (36.8%) 1,046 (14.8%) 287 (4.1%) 114 (1.6%)

% of Hillsboro 4,613 (12.0%) 3,699 (9.6%) 3,317 (8.6%) 4,832 (12.6%) 607 (1.6%)

Lifestyle Group Uptown Individuals Upscale Avenues Middle Ground Family Landscapes Ethnic Enclaves

Urbanization Group Principal UrbanCenters

Suburban Periphery Urban Periphery Suburban Periphery Urban Periphery

Residence Type Multi-Unit Rentals Multi-Units; SingleFamily

Multi-Units; SingleFamily

Single Family Single Family

Household Type Singles Married Couples Married Couples Married Couples Married Couples

Average Household Size 1.66 2.46 2.4 2.96 3.16

Median Age 31.8 34.8 32.2 36.6 31.8

Diversity Index 59.3 71.2 65.4 48.3 83.3

Median Household Income $52,000 $77,000 $50,000 $84,000 $48,000

Median Net Worth $14,000 $78,000 $28,000 $252,000 $53,000

Median Home Value – $295,000 – $226,000 $130,000

Homeownership 20.8 % 52.3 % 44.1 % 85.5 % 65 %

Average Monthly Rent $1,310 – $1,000 – –

Employment Professional orManagement

Professional orManagement

Professional orServices

Professional orManagement

Services orAdministration

Education College Degree College Degree College Degree College Degree High School Graduate

Preferred Activities Prefer environmentallysafe products. Practiceyoga, Pilates; ski.

Gamble; visitmuseums. Buy trendyclothes online.

Go to bars/clubs;attend concerts. Eat atfast food, familyrestaurants.

Go jogging, biking,target shooting. Visittheme parks, zoos.

Own feature-rich cellphones. Pay bills,socialize online.

Financial Spend wages on rent Own 401(k) throughwork

Own U.S. savingsbonds; bank online

Carry high level ofdebt

Spend moneycarefully; buynecessities

Media Active on Facebook,Twitter, YouTube,LinkedIn

Watch movies, TV ondemand; use tablets

Rent DVDs fromRedbox or Netflix

Shop, bank online Listen to urban orHispanic radio

Vehicle Take publictransportation, taxis;walk; bike

Own or lease animported sedan

Own newer cars Own 2+ vehicles(minivans, SUVs)

One or two vehicles


Copyright 2020 Realtors Property Resource® LLC. All Rights Reserved. Information is not guaranteed. Equal Housing Opportunity. 1/20/2020

Who We AreResidents in the highly mobile andeducated Metro Renters market live aloneor with a roommate in older apartmentbuildings and condos located in the urbancore of the city. This is one of the fastest-growing segments; the popularity of urbanlife continues to increase for consumersin their late twenties and thirties.Residents' income is close to the U.S.average, but they spend a large portion oftheir wages on rent, clothes and the latesttechnology. Computers and cell phonesare an integral part of everyday life and areused interchangeably for news,entertainment, shopping and socialmedia. Metro Renters residents live closeto their jobs and usually walk or take a taxito get around the city.

Our NeighborhoodOver half of all households are occupied bysingles, resulting in the smallest averagehousehold size among the markets, 1.66.Neighborhoods feature 20+ unit apartmentbuildings, typically surrounded by offices andbusinesses.Renters occupy close to 80% of all households.Public transportation, taxis, walking and bikingare popular ways to navigate the city.

Socioeconomic TraitsWell-educated consumers, many currentlyenrolled in college.Very interested in the fine arts and strive to besophisticated; value education and creativity.Willing to take risks and work long hours to getto the top of their profession.Become well informed before purchasing thenewest technology.Prefer environmentally safe products.Socializing and social status very important.

Market ProfileEnjoy wine at bars and restaurants.Shop at Trader Joe's and Whole Foods forgroceries; partial to organic foods.Own a Mac computer and use it forreading/writing blogs, accessing datingwebsites, and watching TV programs andmovies.Favorite websites: Facebook, Twitter, YouTubeand LinkedIn.Use a tablet for reading newspapers andmagazines.Participate in leisure activities including yoga,Pilates and downhill skiing.Shop for clothes at Banana Republic, The Gapand Nordstrom.

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 2018. UpdateFrequency: Annually.

This is the

#1dominant segmentfor this area

In this area

42.7%of households fallinto this segment

In the United States


About this segment

Metro Renters



Who We AreEnterprising Professionals residents arewell educated and climbing the ladder inSTEM (science, technology, engineeringand mathematics) occupations. Theychange jobs often and therefore choose tolive in condos, townhomes or apartments;many still rent their homes. The market isfast-growing, located in lower-densityneighborhoods of large metro areas.Enterprising Professionals residents arediverse, with Asians making up over one-fifth of the population. This young marketmakes over one and a half times moreincome than the U.S. median,supplementing their income with high-riskinvestments. At home, they enjoy theInternet and TV on high-speedconnections with premier channels andservices.

Our NeighborhoodAlmost half of households are married couples,and 30% are single-person households.Housing is a mixture of suburban single-familyhomes, row homes, and larger mult-iunitstructures.Close to three quarters of the homes were builtafter 1980; 22% are newer, built after 2000.Renters make up nearly half of all households.

Socioeconomic TraitsMedian household income one and a halftimes that of the U.S.Over half hold a bachelor's degree or higher.Early adopters of new technology in hopes ofimpressing peers with new gadgets.Enjoy talking about and giving advice ontechnology.Half have smartphones and use them for news,accessing search engines and maps.Work long hours in front of a computer.Strive to stay youthful and healthy, eat organicand natural foods, run and do yoga.Buy name brands and trendy clothes online.

Market ProfileBuy digital books for tablet reading, along withmagazines and newspapers.Frequent the dry cleaner.Go on business trips, a major part of work.Watch movies and TV with video-on-demandand HDTV over a high-speed connection.Convenience is key--shop at Amazon.com andpick up drugs at the Target pharmacy.Eat out at The Cheesecake Factory and Chick-fil-A; drop by Starbucks for coffee.Leisure activities include gambling, trips tomuseums and the beach.Have health insurance and a 401(k) throughwork.



This is the


In this area




About this segment

Enterprising Professionals



Who We AreBright Young Professionals is a largemarket, primarily located in urban outskirtsof large metropolitan areas. Thesecommunities are home to young,educated, working professionals. One outof three householders is under the age of35. Slightly more diverse couplesdominate this market, with more rentersthan homeowners. More than two-fifths ofthe households live in single-familyhomes; over a third live in 5+ unitbuildings. Labor force participation is high,generally white-collar work, with a mix offood service and part-time jobs (amongthe college students). Median householdincome, median home value and averagerent are close to the U.S. averages.Residents of this segment are physicallyactive and up on the latest technology.

Our NeighborhoodApproximately 56% of the households rent;44% own their homes.Household type is primarily couples, married(or unmarried), with above averageconcentrations of both single-parent andsingle-person households.Multi-unit buildings or row housing make up55% of the housing stock (row housing,buildings with 5-19 units); 44% built 1980-99.Average rent is slightly higher than the U.S.average.Lower vacancy rate is at 8.9%.

Socioeconomic TraitsEducation completed: 36% with some collegeor an associate's degree, 30% with a bachelor'sdegree or higher. Education in progress is10%.Unemployment rate is lower at 7.1%, and laborforce participation rate of 73% is higher thanthe U.S. rate.These consumers are up on the latesttechnology.They get most of their information from theInternet.Concern about the environment impacts theirpurchasing decisions.

Market ProfileOwn U.S. savings bonds.Own newer computers (desktop, laptop orboth), iPods and 2+ TVs.Go online to do banking, access YouTube orFacebook, visit blogs, and play games.Use cell phones to text, redeem mobilecoupons, listen to music, and check for newsand financial information.Find leisure going to bars/clubs, attendingconcerts, going to the zoo, and renting DVDsfrom Redbox or Netflix.Read sports magazines and participate in avariety of sports, including backpacking,basketball, football, bowling, Pilates, weightlifting and yoga.Eat out often at fast-food and familyrestaurants.



This is the


In this area




About this segment

Bright Young Professionals



Who We AreSoccer Moms is an affluent, family-oriented market with a country flavor.Residents are partial to new housingaway from the bustle of the city but closeenough to commute to professional jobcenters. Life in this suburban wildernessoffsets the hectic pace of two workingparents with growing children. They favortime-saving devices, like banking online orhousekeeping services, and family-oriented pursuits.

Our NeighborhoodSoccer Moms residents prefer the suburbanperiphery of metropolitan areas.Predominantly single family, homes are innewer neighborhoods, 36% built in the 1990s,31% built since 2000.Owner-occupied homes have high rate ofmortgages at 74%, and low rate vacancy at5%.Median home value is $226,000.Most households are married couples withchildren; average household size is 2.96.Most households have 2 or 3 vehicles; longtravel time to work including a disproportionatenumber commuting from a different county

Socioeconomic TraitsEducation: 37.7% college graduates; morethan 70% with some college education.Low unemployment at 5.9%; high labor forceparticipation rate at 72%; 2 out of 3households include 2+ workers.Connected, with a host of wireless devices fromiPods to tablets--anything that enablesconvenience, like banking, paying bills or evenshopping online.Well insured and invested in a range of funds,from savings accounts or bonds to stocks.Carry a higher level of debt, including first andsecond mortgages and auto loans

Market ProfileMost households own at least two vehicles; themost popular types are minivans and SUVs.Family-oriented purchases and activitiesdominate, like 4+ televisions, movie purchasesor rentals, children's apparel and toys, andvisits to theme parks or zoos.Outdoor activities and sports are characteristicof life in the suburban periphery, like bicycling,jogging, golfing, boating, and target shooting.Home maintenance services are frequentlycontracted, but these families also like theirgardens and own the tools for minor upkeep,like riding mowers and tillers.



This is the


In this area




About this segment

Soccer Moms



Who We AreLocated throughout the South and West,most American Dreamers residents owntheir own homes, primarily single-familyhousing--farther out of the city, wherehousing is more affordable. Medianhousehold income is slightly belowaverage. The majority of householdsinclude younger married-couple familieswith children and, frequently,grandparents. Diversity is high; manyresidents are foreign born, of Hispanicorigin. Hard work and sacrifice haveimproved their economic circumstance asthey pursue a better life for themselvesand their family. Spending is focusedmore on the members of the householdthan the home. Entertainment includesmultiple televisions, movie rentals andvideo games at home or visits to themeparks and zoos. This market is connectedand adept at accessing what they wantfrom the Internet.

Our NeighborhoodAmerican Dreamers residents are family-centricand diverse. Most are married couples withchildren of all ages or single parents;multigenerational homes are common.Average household size is higher than U.S.average at 3.16.Residents tend to live further out from urbancenters--more affordable single-family homesand more elbow room.Tenure is slightly above average with 65%owner occupancy; primarily single-familyhomes with more mortgages and slightlyhigher monthly costs.Three quarters of all housing were built since1970.Many neighborhoods are located in the urbanperiphery of the largest metropolitan areasacross the South and West.Most households have one or two vehiclesavailable and a longer commute to work.

Socioeconomic TraitsWhile nearly 16% have earned a collegedegree, the majority, or 63%, hold a highschool diploma only or spent some time at acollege or university.Unemployment is higher at 10.7%; labor forceparticipation is also higher at 67%.Most American Dreamers residents deriveincome from wages or salaries, but the rate ofpoverty is a bit higher in this market.They tend to spend money carefully and focusmore on necessities.They are captivated by new technology,particularly feature-rich smartphones.Connected: They use the Internet primarily forsocializing but also for convenience, likepaying bills online.

Market ProfileWhen dining out, these residents favor fast-food dining places such as Taco Bell orWendy's, as well as family-friendly restaurantslike Olive Garden, Denny's or IHOP.Cell phones are preferred over landlines.Favorite channels include Animal Planet,MTV, Cartoon Network, and Disney, as well asprogramming on Spanish TV.Residents listen to urban or Hispanic radio.During the summer, family outings to themeparks are especially popular.



This is the


In this area




About this segment

American Dreamers



20182023 (Projected)

Total PopulationThis chart shows the total population inan area, compared with othergeographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2018Update 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, 2018Update Frequency: Annually


Population Change Since 2010This chart shows the percentage changein area's population from 2010 to 2018,compared with other geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2018Update Frequency: Annually

Orenco

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, 2018Update Frequency: Annually

Orenco in Hillsboro, OR: Population ComparisonOrenco

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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, 2018Update 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, 2018Update 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, 2018Update Frequency: Annually

Women 2018Men 2018Women 2023 (Projected)Men 2023 (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, 2018Update 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, 2018Update Frequency: Annually


Population by AgeThis chart breaks down the population ofan area by age group.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2018Update Frequency: Annually

Orenco in Hillsboro, OR: Age ComparisonOrenco



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, 2018Update 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, 2018Update 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, 2018Update 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, 2018Update 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, 2018Update Frequency: Annually

Orenco in Hillsboro, OR: Marital Status ComparisonOrenco

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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, 2018Update 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, 2018Update 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, 2018Update 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, 2018Update Frequency: Annually

Orenco in Hillsboro, OR: Economic ComparisonOrenco

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HillsboroWashington CountyOregonUSA

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, 2018Update Frequency: Annually



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, 2018Update 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, 2018Update 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, 2018Update 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, 2018Update 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, 2018Update Frequency: Annually

Orenco in Hillsboro, OR: Education ComparisonOrenco

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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, 2018Update 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, 2018Update 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, 2018Update 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, 2018Update 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, 2018Update Frequency: Annually

Orenco in Hillsboro, OR: Commute Comparison



Best Retail Businesses: Orenco in Hillsboro, OR

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, 2018Update Frequency: Annually



Daily Traffic Counts: Over 100,000 / day50,001 – 100,00030,001 – 50,00015,001 – 30,0006,001 – 15,000Up 6,000 / day

29,0422018 Est. dailytraffic counts

S |t |r |e |e |t |: NE Cornell RdC|r |o |s |s |: NE 61st AveC|r |o |s |s | |D|i |r |: WD|i |s |t |: 0.02 miles

H|i |s |t |o |r |i |c |a |l | |c |o |u |n |t |sYear Count Type

2001 29,388 ADT

1998 25,474 ADT


S |t |r |e |e |t |: NW 229th AveC|r |o |s |s |: NE Brighton DrC|r |o |s |s | |D|i |r |: ND|i |s |t |: 0.02 miles


2007 30,384 AWDT

2001 26,142 ADT

1998 26,205 ADT


S |t |r |e |e |t |: NW Butler RdC|r |o |s |s |: NW 216th AveC|r |o |s |s | |D|i |r |: NED|i |s |t |: 0.12 miles



S |t |r |e |e |t |: NE Butler StC|r |o |s |s |: NE Ronler WayC|r |o |s |s | |D|i |r |: NWD|i |s |t |: 0.04 miles



S |t |r |e |e |t |: NE 231st AveC|r |o |s |s |: Campus StC|r |o |s |s | |D|i |r |: SWD|i |s |t |: 0.04 miles


2015 9,500 AADT

2001 8,489 ADT

1998 7,442 ADT

Traffic Counts

N|O|T|E|: | |D|a|i |l |y | |T|ra|f f i |c | |C|o|u|n|t |s |a|re| |a| |m|i |x |t |u|re| |o|f |a|c |t |u|a|l | |a|n|d| |E|st |i |m|a|t |e|s |( |* |)



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