WHO ARE WE?
City Lights, a densely populated urban market, is the epitome of equality. The wide-ranging demographic characteristics of residents mirror their passion for social welfare and equal opportunity. Household types range from single person to married-couple families, with and without children. A blend of owners and renters, single- family homes and town homes, midrise and high-rise apartments, these neighborhoods are both racially and ethnically diverse. Many residents have completed some college or a degree, and they earn a good income in professional and service occupations. Willing to commute to their jobs, they work hard and budget well to support their urban lifestyles, laying the foundation for stable financial futures.
• More than half of the homes are single-family residences
• Tenure is 50-50: about half of households are owned and half are rented. Median home value
(Index 185) and average gross rent (Index 129) exceed US values.
• Households include families, both married couples and single parents, as well as singles. The distribution is similar to the US, with slightly more single-person households (Index 109).
• Housing is older in this market: nearly 2 out of 3 homes were built before 1970.
• Most households own one vehicle, but public transportation is still a necessity for daily commutes.
• City Lights residents earn above average incomes, but lag the nation in net worth.
• Labor force participation exceeds the US average (Index 108). Residents work hard in professional and service occupations but also seek to enjoy life.
• These consumers save for the future, often to achieve their dream of home ownership. They often engage in discussion about financial products and services among their peers. They earn dividend incomes from their portfolios but steer away from risky investments.
• These consumers are price savvy but will pay for quality brands they trust.
• Reflecting the diversity of their neighborhoods, residents stand by their belief in equal opportunity.
• Attuned to nature and the environment, and when they can, purchase natural products.