WHO ARE WE?
Up and Coming Families is a market in transition—residents are younger and more mobile and ethnically diverse than the previous generation. They are ambitious, working hard to get ahead, and willing to take some risks to achieve their goals. The recession has impacted their financial well-being, but they are optimistic. Their homes are new; their families are young. And this is one of the fastest-growing markets in the country.
• New suburban periphery: new families in new housing subdivisions.
• Building began in the housing boom of the 2000s and continues in this fast-growing market.
• Single-family homes with a median value of $194,400 and a lower vacancy rate.
• The price of affordable housing: longer commute times (Index 217).
• Education: 67% have some college education or degree(s).
• Hard-working labor force with a participation rate of 71% (Index 114) and low unemployment at 4.6% (Index 84).
• Most households (61%) have 2 or more workers.
• Careful shoppers, aware of prices, willing to shop around for the best deals and open to influence by others’ opinions.
• Seek the latest and best in technology.
• Young families still feathering the nest and establishing their style.