WHO ARE WE?
Hardscrabble Road neighborhoods are in urbanized areas within central cities, with older housing, located chiefly in the Midwest and South. This slightly smaller market is primarily a family market, married couples (with and without children) and single parents. Younger, highly diverse (with higher proportions of black, multiracial, and Hispanic populations), and less educated, they work mainly in service, manufacturing, and retail trade industries. Unemployment is high (almost twice the US rate), and median household income is half the US median. Almost 1 in 3 households have income below the poverty level. 60% of householders are renters, living primarily in single-family homes, with a higher proportion of dwellings in 2–4 unit buildings. This market is struggling to get by.
• Renters: About three-fifths of households.
• Primarily family households, married couples with or without children, single parents (Index 203), and multigenerational households (Index 137).
• Primarily single-family homes (61%), with
a higher proportion of dwellings in 2–4 unit buildings (Index 225).
• Older housing, built before 1960 (59%), with a higher proportion built in the 1940s (Index 215) or earlier (Index 257).
• Almost four-fifths of owned homes valued under $100,000 (more than 3.5 times the US).
• Higher percentage of vacant housing units at 18% (Index 155).
• Most households with 1 or 2 vehicles(71%), but 19% have no vehicle (Index 204).
• Education completed: 38% with a high school diploma only (Index 137); 28% with some college or an associate’s degree (Index 97).
• Unemployment rate is higher at 11.2%, almost twice the US rate.
• Labor force participation rate is lower at 57.1%.
• Wages and salaries are the primary source of income for 70% of households, with contributions from Supplemental Security Income for 12% (Index 232) and public assistance for 7% (Index 254).
• These cost-conscious consumers purchase sale items in bulk and buy generic over name brands.
• They tend to save money for a specific purpose.