Our Research

The City of Columbia and the Greater Maury County area were studied as an integrated geographic market area for purposes of determining and identifying housing trends and market demand housing needs.

The Findings

The findings of our research show an overwhelming demand for maintenance free housing priced from 200 – 275k in the South Columbia market. A summary is as follows:

• Population within a 5 mile radius of 119 Stoneybrook Road is 33,728 persons and will rise to 37,122 by 2011, creating a need to house 3,394 additional people. Stoneybrook is proposed for 322 units, which would accommodate 10.4% of this population increase.
• Median age within a 1 mile radius of Stoneybrook has risen from 41.6 to 45.8 from 2000 – 2006 and will rise to 47.3 by 2011, an increase in median age of 5.7 years.
• Median age within a 5 mile radius has risen from 36.6 in 2000 to 38.0 in 2006 and will rise to 39.0 by 2011, which is an increase of only 2.4 years over the same period.
• This indicates the ageing Columbia population has and will continue to migrate south of town to within 1 mile of Stoneybrook.

This represents a significantly (42%) greater rate of age disparity. This clearly indicates that the aging population is moving south of town at nearly twice the rate of areas north of town.

• Population of people over 55 within 5 miles of Stoneybrook in 2000 represented 23.1% of the total population of the market area of 31,069 which is 7,176 people.
• Population of people over 55 for 2006 is 31.6% of 33,730 which is 10,658 people.
• By 2011 the population of 55 and up within the 5 mile market area will reach 35.2% or 13,067 people.

This clearly indicates an increasing older population, who will desire recreational maintenance free living. Assuming two people per household our proposed development will accommodate only 5% of this market segment.

The market demand jumps even further if we consider the 45 and older population within the 5 mile market area. In 2011, we find that there will be 33.4% of total population, or 19,972 people aged 45 and up.

Conclusions

Many of these people are already potential buyers for the single family attached homes in Stoneybrook, which is designed to offer a high quality, recreational, maintenance free lifestyle to this demographic.

In addition to the above findings, we also believe that this product will attract middle to upper income buyers and consumers. As a result, Columbia will attract investment from commercial interests, to service and support the demographic profiles represented here.

Sources

The sources used in our conclusions include real time market data gathered from local reputable real estate professional brokers, online surveys, the US Bureau of the Census, Maury County records, City of Columbia records, the US Bureau of Labor Statistics, Mediamark Research, Business Analyst Online, and ESRI, a worldwide globally recognized authority for Market research statistics.