WHO ARE WE?
Pacific Heights is one of the smaller markets (with less than 1 percent of households), composed of upscale neighborhoods in the urban periphery of metropolitan areas, along the Pacific Coast in California, in Hawaii, and in the Northeast. This market includes the highest percentage of Asian and multiracial populations; many of them born outside the US. This is a family market, distinguished by married-couple families, with and without children, some in multigenerational households. They own their homes, mainly high-priced single-family homes, with a higher proportion of town houses. Workers are generally employed in white collar occupations such as business, computer, architecture, and engineering roles. Median household income and net worth are much higher than the US. These trendy residents buy nice food and clothing, as well as the latest gadgets. They keep up with family overseas with frequent phone calls and foreign travel.
• These are diverse, densely populated neighborhoods in the urban periphery of metropolitan areas.
• Homes are primarily owner occupied and older, most built 1950–1979 (57%).
• Two-thirds of homes are single family; 14% are townhouses (Index 244).
• Nearly 70% of owned homes are valued at over $500,000 (Index 492).
• Percentage of vacant housing units at 4.1% is one of the lowest (Index 36).
• About 61% of households are composed of married couple families, with or without children under 18 years, with a higher ratio of adult children living at home (Index 157).
• Two-thirds of households own 1 or 2 vehicles, but 28% own 3 or more (Index 141).
• Education completed: Over 67% of residents have some college education; 41% have a bachelor’s degree or higher (Index 131).
• Labor force participation rate is average at 62%; unemployment rate is lower at 4.1%.
• Salaries account for most of the household income among these professionals, but investment income adds to their affluence.
• Financially conservative, these consumers tend to opt for low-risk investments.
• They keep up-to-date with the latest styles and trends, as well as the latest technology.