local economic area report la paz county, arizonahavasurealtors.com › wp-content › uploads ›...

LOCAL ECONOMIC AREA REPORT

La Paz County, Arizona

Presented by

Laura TarinThis report is powered by Realtors Property Resource®, a wholly owned subsidiary of the National Association of

REALTORS®

Copyright 2015 Realtors Property Resource® LLC. All Rights Reserved. Information is not guaranteed. Equal Housing Opportunity.

6/25/2015

Criteria Used for Analysis

Income:Median Household Income

Age:Median Age

Population Stats:Total Population

Segmentation:1st Dominant Segment

$33,131 56.1 20,490 The EldersConsumer SegmentationLife Mode UrbanizationWhat are thepeople like thatlive in this area?

Senior StylesSenior lifestyles reveal the effects of saving forretirement

Where do peoplelike this usuallylive?

Suburban PeripheryAffluence in the suburbs, married couple-families, longercommutes

Top TapestrySegments The Elders Senior Escapes Down the Road Rooted Rural

The GreatOutdoors

% of Households 3,710 (39.8%) 2,224 (23.8%) 870 (9.3%) 758 (8.1%) 524 (5.6%)

% of Arizona 134,368 (5.4%) 138,889 (5.6%) 77,833 (3.2%) 8,255 (0.3%) 36,387 (1.5%)

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

Urbanization Group Suburban Periphery Semirural Semirural Rural Rural

Residence Type Single Family, High-Rise, Mobile Homes orSeasonal

Single Family, MobileHomes or Seasonal

Mobile Homes Single Family or MobileHomes

Single Family

Household Type Married CouplesWithout Kids

Married CouplesWithout Kids

Married Couples Married Couples Married Couples

Average Household Size 1.67 2.19 2.74 2.47 2.43

Median Age 71.8 52.6 34.3 44.1 46.3

Diversity Index 20.3 42.5 70.5 28.2 33.7

Median Household Income $35,000 $35,000 $36,000 $38,000 $53,000

Median Net Worth $194,000 $84,000 $30,000 $72,000 $124,000

Median Home Value $153,000 $110,000 $104,000 $104,000 $189,000

Homeownership 82.1 % 76.1 % 66.4 % 80.5 % 78.1 %

Employment Retired, Services,Professional orAdministration

Retired, Services,Professional orAdministration

Services orAdministration

Services, Professionalor Administration

Professional or Services

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

Preferred Activities Buy clothing, exerciseequipment. Shop byphone or in person.

Take guided tours in theU.S.. Belong toveterans' clubs; memberof AARP/AAA.

Visit chat rooms; playgames online. Gohunting, fishing.

Shop with coupons; buygeneric products. Gohunting, fishing.

Might invest in realestate. Own pet dogs orcats.

Financial Bank in person Bank in person Prefer convenience offrozen meals, fast food

Pay bills in person Belong to AARP,veterans' clubs

Media Watch news, movies,golf, travel, history onTV

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

Watch Animal Planet onsatellite TV

Listen to faith-basedradio, gospel music

Watch CMT, HistoryChannel, Fox News

Vehicle Drive luxury sedansaged 5+ years

Maintain older vehicle Bought used vehicle lastyear

Own, maintain cars,ATVs

Own 4-wheel drivetrucks


Copyright 2015 Realtors Property Resource® LLC. All Rights Reserved. Information is not guaranteed. Equal Housing Opportunity. 6/25/2015

Who We Are

With a median age of 71.8, The Elders isthe oldest market. Residents favorcommunities designed for senior orassisted living, primarily in warmer climateswith seasonal populations. Most of thesehouseholders are homeowners, althoughtheir housing varies from mobile homes tosingle-family residences to high-riseapartments. These seniors are informed,independent and involved.

Our NeighborhoodPredominantly retirees, The Elders has a lowlabor force participation rate of 21.3%.Those who are still in the labor force tend to beself-employed or part-timers, commonly in realestate or the arts.Their income derives primarily from SocialSecurity (80% of the households), retirement, orinvestments (almost half of the households). Lessthan 30% of the households draw wage/salaryincome.Median household income is lower than the U.S.average, but median net worth is much higher.These consumers have definite opinions abouttheir spending, focusing on price, but not at theexpense of quality. They prefer to use couponsand buy American and environmentally safeproducts.Cell phones are common but primarily used tomake/receive calls.

Socioeconomic TraitsSuburban periphery of metropolitan areas,primarily in the warmer climates of Florida orArizona.44% married couples without children; 44%single households; average household size, 1.67.Owner-occupied housing units; median homevalue of $153,000.Housing mix of single-family homes (43%), townhomes and high-density apartment buildings inneighborhoods built from 1970 through 1989.Vacancy rates higher at 24%, due to the numberof seasonal or vacation homes.Almost 60% of the population in group quarterson nursing home facilities.

Market ProfileVehicles are just a means of transportation, buttheir first choice is luxury sedans. Most of theircars are older (5+ years).They are connected via modems (cable or dial-up)on older PCs or notebooks. However, banking iscommonly done in person; shopping is by phoneor in person.Shopping includes apparel and exerciseequipment.They are avid readers, with audio books and e-readers. Newspapers and magazines are staplesfor news and entertainment. Cable TV is also amust, primarily watching news or movie channels,but also golf, travel and history channels.Residents are sociable seniors, partial to avariety of clubs and organizations and generouswith their time and support.

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 Esriclassifies U.S. residential neighborhoods into 67 unique market segments based on socioeconomic and demographic characteristics. Data Source:Esri 2014. Update Frequency: Annually.

This is the

#1dominant segmentfor this area

In this area

39.8%of households fallinto this segment

In the United States


About this segment

The Elders



Who We Are

Senior Escapes neighborhoods are heavilyconcentrated in the warmer states ofFlorida, California and Arizona. Theseareas are highly seasonal, yet owneroccupied. Many homes began as seasonalgetaways and now serve as primaryresidences. Forty percent are mobilehomes; half are single-family dwellings.About half are in unincorporated and morerural areas. Over a quarter of the populationare 65-74 years old. Most are white andfairly conservative in their political andreligious views. Residents enjoy watchingTV, going on cruises, playing Bingo,golfing, boating and fishing. They are veryconscious of their health and buy specialtyfoods and dietary supplements.

Our NeighborhoodNeighborhoods include primary and secondhomes in rural or semi-rural settings.One quarter of all housing units are vacant; manyare for seasonal use only.One-third of the households are married coupleswithout children; a third are single-personhouseholds.Half the homes are single family; another 40%are mobile homes.Three-quarters of all homes are owner occupied,and the majority own their homes free and clear.Still actively driving, most households have one ortwo vehicles.

Socioeconomic TraitsLabor force participation is low, but more than halfthe households are drawing Social Securityincome.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 balance ontheir 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



This is the


In this area




About this segment

Senior Escapes



Who We Are

Down the Road is a mix of low-density,semi-rural neighborhoods in largemetropolitan areas; half are located in theSouth, with the rest chiefly in the West andMidwest. Almost half of householders live inmobile homes; approximately two-fifths livein single-family homes. These are younger,diverse communities, with the highestproportion of American Indians of anysegment. These family-oriented consumersvalue their traditions. Workers are inservice, retail trade, manufacturing andconstruction industries, with higherproportions in agriculture and mining,compared to the U.S. in general. Thismarket has higher unemployment, muchlower median household income and homevalue, and a fifth of households with incomebelow poverty level.

Our NeighborhoodTwo-thirds of households are owned.Family market, primarily married couples orsingle-parent households.Close to half of all households live in mobilehomes.Four-fifths of households were built in 1970 orlater.About 18% of owned homes are valued under$50,000 (more than three times the U.S.percentage).

Socioeconomic TraitsEducation completed: 37% with a high schooldiploma only, 38% with some college educationor a degree.Unemployment rate is 11.6%, higher than theU.S. rate.Labor force participation rate is 59.6%, slightlylower than the U.S.Family-oriented, outgoing consumers; they placeimportance on preserving time-honored customs.They put a premium on convenience rather thanhealth and nutrition.

Market ProfilePurchased a used vehicle in the past year, likelymaintaining the vehicle themselves.Routinely stop by the convenience store topurchase a lottery ticket.Participate in fishing and hunting.Visit chat rooms and play games online.Listen to the radio, especially at work, with apreference for rap, R&B and hip-hop music.Enjoy programs on Animal Planet, typicallywatching via satellite dish.Often prepare quick meals, using packaged orfrozen dinner entrees.Favorite fast food: pizza.Frequent Walmart for all their shopping needs(groceries, clothing, pharmacy, etc.).



This is the


In this area




About this segment

Down the Road



Who We Are

Rooted Rural is heavily concentrated in theAppalachian mountain range as well as inTexas and Arkansas. Employment in theforestry industry is common, and RootedRural residents live in many of the heavilyforested regions of the country. Nearly 9 of10 residents are non-Hispanic whites. Thisgroup enjoys time spent outdoors, hunting,fishing or working in their gardens. Indoors,they enjoy watching television with a spouseand spending time with their pets. Whenshopping, they look for American-made andgeneric products. These communities areheavily influenced by religious faith,traditional gender roles and family history.

Our NeighborhoodThis market is dominated by married couples, fewwith 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 ahigh proportion for seasonal use.Home values are very low--almost half of ownedhomes are valued under $100,000.

Socioeconomic TraitsThrifty shoppers that use coupons frequently andbuy generic goods.Far-right political values on religion and marriage.Do-it-yourself mentality; grow their own produceand work on their cars and ATVs.Pay bills in person and avoid using the Internet forfinancial transactions.Often find computers and cell phones toocomplicated and confusing.Clothes a necessity, not a fashion statement;only buy new clothes when old clothes wear out.

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 Show Network).Pets are popular--dogs, cats, and birds.Leisure activities include hunting and fishing.They listen to faith-based radio and gospel music.Many are on Medicare and frequent the Walmartpharmacy.



This is the


In this area




About this segment

Rooted Rural



Who We Are

Neighborhoods in The Great Outdoorssegment are found in pastoral settingsthroughout the United States. Consumersare educated empty nesters living an activebut modest lifestyle. Their focus is land.They are more likely to invest in real estateor a vacation home than stocks. They areactive gardeners and partial to homegrownand home-cooked meals. Althoughretirement beckons, most of theseresidents still work, with incomes slightlyabove the U.S. level.

Our NeighborhoodMore than 55% of households are married-couplefamilies; 36% are couples with no children livingat home.Average household size is slightly smaller at2.43.Typical of areas with rustic appeal, the housinginventory features single-family homes (76%) andmobile homes (16%); a significant inventory ofseasonal housing is available.Residents live in small towns and ruralcommunities throughout the West, South andNortheast regions of the country.More than half of all homes were constructedbetween 1970 and 2000.Most households have one or two vehicles;average travel time to work is slightly higher (28minutes) despite a disproportionate number thatwork from home.

Socioeconomic TraitsNearly 60% have attended college or hold adegree.Unemployment is lower at 8%, but so is laborforce participation at 60%.Typical of neighborhoods with older residents,income from retirement and Social Security iscommon, but residents also derive income fromself-employment and investments.Residents are very do-it-yourself oriented andcost conscious.Many service their own autos, work on homeimprovement and remodeling projects, andmaintain their own yards.They prefer domestic travel to trips abroad.

Market ProfileSatellite dishes and riding lawn mowers arefamiliar sights in these rural settings, along withmultiple vehicles; four-wheel drive trucks arepopular, too.Residents are members of AARP and veterans'clubs and support various civic causes.Technology is not central in their lives: light useof Internet connectivity for shopping andentertainment.Most households have pets--dogs or cats.Television channels such as CMT, History, andFox News are popular.They enjoy outdoor activities such as hiking,hunting, fishing and boating.



This is the


In this area




About this segment

The Great Outdoors



20142019 (Projected)

Total PopulationThis chart shows the total population in anarea, compared with other geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2014Update Frequency: Annually


Population DensityThis chart shows the number of people persquare mile in an area, compared withother geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2014Update Frequency: Annually


Population Change Since 2000This chart shows the percentage change inarea's population from 2000 to 2014,compared with other geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2014Update 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, 2014Update Frequency: Annually

La Paz County, Arizona: Population Comparison




Population Living in FamilyHouseholdsThis chart shows the percentage of anarea’s population that lives in a householdwith one or more individuals related bybirth, marriage or adoption, compared withother geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2014Update Frequency: Annually

Women 2014Men 2014Women 2019 (Projected)Men 2019 (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, 2014Update Frequency: Annually




Median AgeThis chart shows the median age in anarea, compared with other geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2014Update Frequency: Annually


Population by AgeThis chart breaks down the population of anarea by age group.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2014Update Frequency: Annually

La Paz County, Arizona: Age Comparison



MarriedUnmarried

Married / Unmarried AdultsRatioThis chart shows the ratio of married tounmarried adults in an area, compared withother geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2014Update 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, 2014Update 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, 2014Update Frequency: Annually

WidowedThis chart shows the number of people inan area who are widowed, compared withother geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2014Update 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, 2014Update Frequency: Annually

La Paz County, Arizona: Marital Status Comparison




Average Household IncomeThis chart shows the average householdincome in an area, compared with othergeographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2014Update 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, 2014Update 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, 2014Update 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, 2014Update Frequency: Annually

Unemployment RateThis chart shows the unemployment trendin the area of your search. Theunemployment rate is an important driverbehind the housing market.Data Source: Bureau of Labor Statistics viaEsri, 2014Update Frequency: Annually

La Paz County, Arizona: Economic Comparison



Employment Count byIndustryThis chart shows industries in an area andthe number of people employed in eachcategory.Data Source: Bureau of Labor Statistics viaEsri, 2014Update Frequency: Annually



Less than 9th GradeThis chart shows the percentage of peoplein an area who have less than a ninth gradeeducation, compared with othergeographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2014Update Frequency: Annually

Some High SchoolThis chart shows the percentage of peoplein an area whose highest educationalachievement is some high school, withoutgraduating or passing a high school GEDtest, compared with other geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2014Update Frequency: Annually

High School GEDThis chart shows the percentage of peoplein an area whose highest educationalachievement is passing a high school GEDtest, compared with other geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2014Update Frequency: Annually

High School GraduateThis chart shows the percentage of peoplein an area whose highest educationalachievement is high school, compared withother geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2014Update Frequency: Annually

Some CollegeThis chart shows the percentage of peoplein an area whose highest educationalachievement is some college, withoutreceiving a degree, compared with othergeographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2014Update Frequency: Annually

La Paz County, Arizona: Education Comparison



Associate DegreeThis chart shows the percentage of peoplein an area whose highest educationalachievement is an associate degree,compared with other geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2014Update Frequency: Annually

Bachelor's DegreeThis chart shows the percentage of peoplein an area whose highest educationalachievement is a bachelor's degree,compared with other geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2014Update Frequency: Annually

Grad/Professional DegreeThis chart shows the percentage of peoplein an area whose highest educationalachievement is a graduate or professionaldegree, compared with other geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2014Update Frequency: Annually



Median Estimated Home ValueThis chart displays property estimates foran area and a subject property, where onehas been selected. Estimated home valuesare generated by a valuation model and arenot formal appraisals.Data Source: Valuation calculations basedon public records and MLS sources wherelicensedUpdate 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 a valuationmodel and are not formal appraisals.Data Source: Valuation calculations basedon public records and MLS sources wherelicensedUpdate Frequency: Monthly

La Paz County, Arizona: Home Value Comparison



Best Businesses

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, soconsumers go elsewhere to have their needs met. The orange business types are relatively plentiful in the area, meaning there are existing competitors for the dollars thatconsumers spend in these categories.Data Source: Retail Marketplace via Esri, 2014Update Frequency: Annually

Indexed Values From -100 to 100



RPR compiles the data in this report from a variety of sources:• Census data from the U.S. Census American Community Survey, providedby data partner 3DL• Demographic data known as Tapestry Segmentation, provided by datapartner Esri. Tapestry classifies U.S. residential neighborhoods into uniquemarket segments based on socioeconomic and demographic characteristics.• Valuation calculations are based on public records and MLS sources wherelicensed

• Retail Marketplace data shown in the Best Businesses analysis is providedby data partner Esri. This analysis compares supply and demand for specificretail products. The results are presented as the gap between the two in alocation.

Most data types in this report are refreshed on an annual basis. The U.S.Census source dates are shown with each chart. The Esri Tapestry Segmentdata is 2014. The home valuation information is refreshed monthly.

About RPR

What is RPR?Comprehensive data, powerful analytics and dynamic reports for members of the National Association of REALTORS®

100% Owned by REALTORS®Created by NAR for the sole purpose of providing REALTORS® with the data they need to meet the demands of their clients.

Learn MoreFor more information about RPR and our programming, please visit our public website:http://blog.narrpr.com

About Our Data

Realtors Property Resource® is a wholly owned subsidiary of the National Association ofREALTORS® provided exclusively to its members. This report has been provided to youas a public service by a member of NAR.



local economic area report la paz county, arizonahavasurealtors.com › wp-content › uploads ›...

Documents