cleveland_overview_slides

Cleveland Overview - 1Copyright ©2004 by Social Compact

CLEVELAND NEIGHBORHOOD MARKET DCLEVELAND NEIGHBORHOOD MARKET DCLEVELAND NEIGHBORHOOD MARKET DCLEVELAND NEIGHBORHOOD MARKET DRILLRILLRILLRILLDDDDOWNOWNOWNOWN PROFILEPROFILEPROFILEPROFILE

44135

44105

44128

44109

44111

44102 44120

44144

44104

44103

44106

44108

44110

44112

44113

44114

44119

44115

44127

44113

Zip CodeDistrict 1District 2District 3District 4District 5District 6

Legend

ClevelandZipcode Overlay

This map displays the DRILLDOWN market of the city of Cleveland. The study encompassed the entire city, approximately 77 square miles. To better understand each specific area of the study neighborhood as well as the market as a whole, sub-groups of the study area emerge as micro-markets are defined based on similar patterns of household size, income, ethnicity, home values, and delineated by geographical boundaries. Social Compact segments a study area into micro-markets and, in Cleveland, the market was divided into six districts as seen here. Each district is further subdivided by statistical planning areas (or SPAs) as defined by the city of Cleveland.



Cleveland DRILLDOWN MarketNumber of households

The DRILLDOWN shows 211,719 households within the Cleveland Market, 11.1% more households than Census 2000 and 15.8% more than commercial Census Trend Projection 2003. Similarly, the DRILLDOWN found 6.0% more households than Census 1990[1]. Whereas Census 2000 counted a 4.6% decline in households over Census 1990, the DRILLDOWN found the market to be increasing in size, an important point because commercial census trend projections will continue to assume negative change until the findings from the next decennial census are released.

[1] Note: In order to achieve a baseline for evaluation, DRILLDOWN, Census 2000, and Census Trend Projection 2003 variables are compared to Census 1990 numbers. This allows a common, if imperfect, denominator between the three data sets for analysis.

190,638

Census 2000 Census Trend Projection 2003

DRILLDOWN2003

182,898211,719



Cleveland DRILLDOWN MarketPopulation

The DRILLDOWN shows 588,362 people living within the Cleveland Market, 23.8% greater population than Census 2000 and 28.8% larger than commercial Census Trend Projection 2003. Similarly, the DRILLDOWN found 16.4% higher population than Census 1990[1]. Whereas Census 2000 counted a 6.0% decline in population over Census 1990, the DRILLDOWN found the market to be increasing in size, an important point because commercial census trend projections will continue to assume negative change until the findings from the next decennial census are released.

[1] Note: In order to achieve a baseline for evaluation, DRILLDOWN, Census 2000, and Census Trend Projection 2003 variables are compared to Census 1990 numbers. This allows a common, if imperfect, denominator between the three data sets for analysis.

475,165

Census 2000 Census Trend Projection 2003

456,625

588,362

DRILLDOWN2003



Cleveland DRILLDOWN MarketMedian home values

Compared to Census 2000 and Census Trend Projection 2003, the DRILLDOWN found much higher home values. The DRILLDOWN’s $80,000 median home value is 12.5% higher than Census 2000 ($71,100) and 43.9% higher than Census Trend Projection 2003 ($55,608).



Cleveland DRILLDOWN MarketSingle family home salesNumber of single family home sales by group in parenthesis

For the 18-month period from March 2002 through August 2003, over 5,000 single family properties were sold in Cleveland. The median home value of single family homes in Cleveland is $80,000. This chart shows how the median home values are spread over the market. District 1 ($85,000) and District 2 ($86,000) show particularly high median home values. District 3 ($60,000) has the lowest median home value among the six Cleveland districts. District 1 (1,525) experienced the largest number of home sales.



Cleveland DRILLDOWN MarketMedian household income

The DRILLDOWN revealed overall median household income higher than Census 2000 and Census Trend Projection 2003. The DRILLDOWN found median household income at $28,585, 10.2% higher than Census 2000 ($25,928) and 4.4% higher than Census Trend Projection 2003 ($27,368). District 1 ($35,236, DRILLDOWN) boasts the highest median income in the City of Cleveland. District 5 ($21,889, DRILLDOWN) is home to the lowest median income.



Cleveland DRILLDOWN MarketAverage household income

The DRILLDOWN revealed overall average household income higher than Census 2000. The DRILLDOWN found average household income at $35,879, 6.1% higher than Census 2000 ($33,812), but DRILLDOWN figures fell 5.2% short of Census Trend Projection 2003 estimates ($37,831). District 1 ($42,682, DRILLDOWN) boasts the highest average household income in the City of Cleveland. District 3 ($32,416, DRILLDOWN) is home to the lowest average household income.



Cleveland DRILLDOWN MarketCash economy by district (percentage in parenthesis)

The DRILLDOWN is designed to capture cash economies active within study markets. In Cleveland, the DRILLDOWN, based on a number of criteria, determined that there is an active cash economy of nearly $830 million. From a percentage standpoint, District 3 has the most active cash economy, accounting for 14.3% of District 3’s market expenditure capacity. From the perspective of pure dollar figures, District 2 has the highest cash economy at nearly $187 million.



Cleveland DRILLDOWN MarketAggregate expenditure capacity

Viewing the City of Cleveland in the aggregate, the DRILLDOWN ($7.596 billion) found over $1.151 billion more in expenditure capacity than Census 2000 ($6.446 billion). Due in part to the cash economy overlay of nearly $828 million, and the DRILLDOWN’s higher population, the DRILLDOWN estimates that there is at least $1.151 billion dollars more in the market than Census 2000 indicated.

$827,998,510

Census 2000 DRILLDOWN 2003

$6,445,769,089

$6,768,284,383

$7,596,282,893

DRILLDOWN Cash EconomyCensus 2000



Cleveland DRILLDOWN MarketConcentrated expenditure capacity per acre

The DRILLDOWN’s higher concentration of households accounts for a higher expenditure capacity per acre. At $153,866 per acre, inclusive of a cash economy of $16,771 per acre, the DRILLDOWN is 17.9% higher than the Census 2000 figure of $130,562.

$153,866


$130,562$137,094




Cleveland DRILLDOWN MarketConcentrated expenditure capacity per square mile

Concentrated expenditure capacity per square mile is $98,473,981 for the DRILLDOWN, inclusive of a cash economy of $10,773,712 per square mile, and $83,559,361 for Census 2000. The DRILLDOWN found the market’s expenditure capacity to be 17.8% greater than Census 2000 findings indicate. Cleveland’s overall aggregate market income is $7.596 billion.

$98,473,981


$83,559,361$87,740,269




Cleveland DRILLDOWN MarketAggregate expenditure capacity and market retail purchasing power

$883 Million

$4,171 per household

Based on Consumer Expenditure Survey spending patterns, the DRILLDOWN found Cleveland’s market retail purchasing power to be $5.310 billion. Retail sales in the market are $4.427 billion however, leaving a gap of $883 million. This means that $883 million, or $4,171 per household, of retail purchasing potential is leaving the study area market and is being spent elsewhere.

Market Retail Purchasing PowerAggregate Expenditure Capacity

$2,286,481,15130.1% 2002 CES expenditure categories:

Housing, utilities, and taxes

$5,309,801,74269.9% Market Retail Purchasing Power

$7,596,282,893

$882,801,742Retail purchasing potential

$5,309,801,742

$4,427,000,000Cleveland 2003 retail sales



Cleveland DRILLDOWN MarketBusinesses 2003 (436,390 employees)

There are 19,130 businesses employing over 436,000 people scattered throughout the Cleveland DRILLDOWN market. Moreover, some 65.1% of these businesses have overcome the three-year survival hurdle. The aggregate revenue for all businesses is in excess of $63.794 billion.

6,681 in business less than three years (34.9%)

12,449 in business three years or more (65.1%)

19,130 Cleveland businesses = $63,793,850,000

Cleveland Businesses 2003



Cleveland DRILLDOWN MarketOwner occupancy

In an urban area, it is important to look at owner occupancy by building rather than by unit. Unlike suburban neighborhoods, many homes in urban areas are not primarily single-family stock. For example, a resident may own a three-unit building, live in one unit and rent out the other two units, showing owner occupancy of 100% at the building level and 33% at the unit level. The DRILLDOWN looks at owner occupancy at a building level and in doing so reveals more owners in the neighborhood who have a stake in the stability of the market. In Cleveland, looking at owner occupancy at the building level reveals 78.6% owner occupancy versus 51.6% owner occupancy at the unit level.

51.6%

78.6%

City of Cleveland

By Building By Unit



Cleveland DRILLDOWN MarketOwner occupancy

In Cleveland, looking at owner occupancy at the building level reveals 78.6% owner occupancy versus 51.6% owner occupancy at the unit level. Comparing owner occupancy rates in each district reveals that owner occupancy at a building level is highest in Districts 1 (85.5%) and 4 (82.6%) and lowest in Districts 3 (69.8%) and 5 (68.8%).



Cleveland DRILLDOWN MarketTotal reported incidents of crime per 1,000 by district (2003 versus 1997)

In 2003, there were 46.24 total reported incidents of crime per thousand people in the City of Cleveland. A comparison of total reported incidents of crime per thousand people in 2003 reveals criminal activity in Cleveland is lowest in District 1 where there were 31.39 reported incidents of crime per thousand persons. Criminal activity is highest in District 3 at 79.33 reported incidents of crime per thousand persons. Crime declined 39.75% from 1997.



ClevelandSize/Growth

Population

Households

Daytime Population

Median housing sales value

475,165

190,638

Census 2000 DRILLDOWN

588,362

211,719

546,735

$71,100 $80,000



Buying Power

Median household income

Cash economy overlay

Adjusted aggregate household income

$25,928

$6,445,769,089

$28,585

$828 million

$7,596,282,893

Cleveland

DRILLDOWNCensus

2000



Risk/Stability

Change in reported crime (1997 – 2003)

Owner occupied buildings

Owner occupied units

DRILLDOWNNeighborhood

78.6%

51.6%

-39.8%

Cleveland

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