Huntsville vs. Memphis vs. Columbus-Population Segments & Income

[Brandon Sturgill]

What's your main driver to invest in one location over another?...here are 3 locations mentioned commonly in the process of selecting an out-of-state market...

Location	Median Income	Median Age	Population
Huntsville, AL.	$54,441	38.7	204,764
Memphis, TN.	$40,845	34.9	655,000
Columbus, OH.	$53,222	33.2	883,857

Location	1st Dominant Segment	Area %	US %	Characteristics
Huntsville, AL.	Exurbanites	10.4%	1.9%	Exurbanites residents are approaching retirement but showing few signs of slowing down. They are active in their communities, generous in their donations, and seasoned travelers. They take advantage of their proximity to large metropolitan centers to support the arts but prefer a more expansive home style in less crowded neighborhoods. They have cultivated a lifestyle that is both affluent and urbane.
Memphis, TN.	Modest Income Homes	18.7%	1.3%	Families in this urban segment may be non-traditional; however, their religious faith and family values guide their modest lifestyles. Many residents are primary caregivers to their elderly family members. Jobs are not always easy to come by, but wages and salary income are still the main sources of income for most households. Reliance on Social Security and public assistance income is necessary to support single-parent and multi-generational families. High poverty rates in this market make it difficult to make ends meet. Nonetheless, rents are relatively low. Public transportation is available, and Medicaid can assist families in need.
Columbus, OH.	Bright Young Professionals	9.7%	2.2%	Bright Young Professionals is a large market, primarily located in urban outskirts of large metropolitan areas. These communities are home to young, educated, working professionals. One out of three householders are under the age of 35. Slightly more diverse couples dominate this market, with more renters than homeowners. More than two-fifths of the households live in single-family homes; over a third live in 5+ unit buildings. Labor force participation is high, generally white-collar work, with a mix of food service and part-time jobs (among the college students). Median household income, median home value and average rent are close to the U.S. averages. Residents of this segment are physically active and up on the latest technology.