February 4, 2009 Mississippi Lakes Symposium Demographic Overview Sardis Lake, Mississippi.

February 4, 2009

Mississippi Lakes Symposium

Demographic Overview

Sardis Lake, Mississippi

Mississippi Lakes Symposium Slide 2 David Nissenson 571-214-9326

Waterfront Developments


Opportunities and Market Sources

Waterfront Development

Commercial Residential

Primary Residence

Seasonal / Vacation

Residence

Development Uses

Primary Market Sources

Recreation and Entertainment

Resort / HotelRetail

Baby BoomersOther Visitors / Tourists

Area Residents Area ResidentsArea Residents

HH Income > $100,000++

Inter and Intra-regional Migration

Median Home Value + Premium

Your Project


Major Lake Resources in Mississippi

Major Lake / Reservoir Area (sq. mi.)Aberdeen Lake 7.60Arkabutla Lake 10.86Bangs Lake 1.37Bay Springs Lake 7.70Beaverdam Lake 0.65Bee Lake 3.04Columbus Lake 9.45Davis Lake 0.61Dump Lake 1.13Enid Lake 16.52Flint Creek Reservoir 1.05Flower Lake 0.85Grassy Lake 0.91Grenada Lake 25.28Hennington Lake 0.85Horn Lake 1.79Lake Bogue Homo 1.54Lake Bolivar 1.80Lake Mary 6.38Lake Tangipahoa 0.94Lake Washington 4.96Moon Lake 4.18Mossy Lake 0.93Mud Lake 0.63Okatibbee Lake 12.55Ross R. Barnett Reservoir 55.51Sardis Lake 28.46Sky Lake 1.06Source: ESRI Business Analyst; ERA | AECOM; 2009.

Arkabutla

Enid

Grenada

Okatibbee

Ross Barnett

Sardis


National Association of Realtors(Survey of Second Home Owners-2006)

Median age: 55-59 years (45-74 years~70%)

Married couples: 75-83%

Couples w/o children at home: 70-75%

Ethnicity: 85-95% white

Primary residence w/in 300 miles: 60% (25% over 1,000 miles)

Drive to second home: 82%

Detached single-family: 41% (versus 61% for primary)

Value of home less than primary residence: 68%

Purchase new: ~1 out of 4

Owner use (median): 39 days

2004: Good investment choice - 92%; Bad/don’t know – 8%

2005: Good investment choice - 82%; Bad/don’t know – 18%


Demographic OverviewRegional 1/ National

2008 2013 CAGR CAGR CAGRPopulation 2,986,953 3,113,724 0.8% 1.0% 1.2%

Median Age 35.5 36.7 0.7% 0.6% 0.5%45-54 years 421,160 439,035 0.8% 1.0% 1.1%55-64 years 322,591 382,988 3.5% 3.4% 3.7%

Households 1,127,406 1,186,047 1.0% 1.1% 1.3%Household Size 2.56 2.54 -0.2% -0.1% 0.0%Family Size 3.13 3.14 0.1% 0.1% 0.2%

Median Household Income $36,322 $39,949 1.9% 2.8% 3.2%Average Household Income $48,206 $52,394 1.7% 2.7% 3.5%

Households with Income $100,000 - $200,000 77,791 94,884 4.1% 6.1% 6.2%Households with Income Above $200,000 16,911 20,163 3.6% 7.6% 9.6%

Median Home Value $91,128 $95,866 1.0% 1.3% 1.0%Housing Tenure 1,267,587 1,340,205 1.1% 1.1% 1.4%

Owner 818,861 853,711 0.8% 1.0% 1.1%Renter 309,291 332,371 1.4% 1.5% 1.6%Vacant 140,702 154,124 1.8% 0.4% 2.1%

1/ Includes the adjoining states of Alabama, Arkansas, Louisiana and Tennessee.

Source: ESRI Business Analyst 2009.

Mississippi


Proximity Market Areas0 - 60 miles 60 - 120 miles 120 - 180 miles

Population 785,359 1,417,399 5,620,796Median Age 35.4 35.2 35.945-54 years 111,860 194,751 817,830 55-64 years 83,670 152,153 626,754

Households 291,713 537,965 2,163,342Household Size 2.59 2.56 2.54Family Size 3.18 3.15 3.11

Median Household Income $39,374 $34,240 $39,985Average Household Income $53,135 $46,693 $54,060

Households with Income $100,000 - $200,000 24,884 35,252 165,627 Households with Income Above $200,000 5,916 8,180 39,889

Median Home Value $93,768 $82,799 $104,362Housing Tenure

Total Housing Units 325,611 612,323 2,453,760 Owner 211,166 390,018 1,538,063 Renter 80,547 151,631 627,271 Vacant 33,898 70,674 288,425

Owner 65% 64% 63%Renter 25% 25% 26%Vacant 10% 12% 12%

Source: ESRI Business Analyst, 2009.


Second Homes (By Numbers)

Total PercentHancock County 39,008 21,072 2,373 11%Harrison County 184,271 79,636 1,673 2%Wilkinson County 10,131 5,106 941 18%Pearl River County 56,537 20,610 835 4%Lafayette County 42,284 16,587 692 4%Panola County 35,611 13,736 640 5%J ackson County 138,958 51,678 613 1%Tishomingo County 19,401 9,553 527 6%Amite County 13,695 6,446 490 8%Source: ESRI Business Analyst, 2009.

J urisdictionTotal

PopulationTotal Housing

UnitsSecond Homes


Second Homes (By Percent Share)

Total PercentWilkinson County 10,131 5,106 941 18%Hancock County 39,008 21,072 2373 11%Franklin County 8,404 4,119 434 11%Carroll County 10,879 4,888 439 9%Amite County 13,695 6,446 490 8%Benton County 7,984 3,456 234 7%Tishomingo County 19,401 9,553 527 6%Yalobusha County 13,531 6,224 396 6%Panola County 35,611 13,736 640 5%Greene County 13,340 4,947 265 5%Source: ESRI Business Analyst, 2009.

Second HomesTotal Housing Units

Total PopulationJ urisdiction


Characteristics of Successful Waterfront Developments

Physical Attributes Location, location, location Natural land characteristics Shoreline configuration Year-round access and use Climate

Cultural Aspects Authenticity Historic characteristics Symbolic value/meaning Architectural character Landscape character Maintenance Amenities, appropriate and correctly

scaled

Source: New York State DOS Division of Coastal Resources; PPS; ERA|AECOM; 2009.

Economic/Demographic Variables Age distribution Population growth Households Household income Median home value Housing tenure

• Owner Occupied

• Renter Occupied

• Vacant

Scenic Qualities Length and breadth of views Views to site/land Adjacent uses Focal points (clustered experiences)


111 MM U.S. Households12 LifeMode Categories65 Tapestry Segments

57% Ownership Dominant(63 MM Households)

38% Mixed(42 MM Households)

5% Rental Dominant(6 MM Households)

68 % Own Homes 32% Rent Homes

U.S. Household Base


ESRI LifeMode Groups

LifeMode

Tapestry

SegmentsHouseholds

(millions) % U.S.

1. High Society 7 11.7 10.6%

2. Upscale Avenues 7 15.7 14.2%

3. Metropolis 6 5.8 5.2%

4. Solo Acts 5 7.8 7.0%

5. Senior Styles 9 14.1 12.7%

6. Scholars and Patriots 3 1.7 1.5%

7. High Hopes 2 4.7 4.2%

8. Global Roots 8 9.4 8.5%

9. Family Portrait 5 8.6 7.7%

10. Traditional Living 4 10.1 9.1%

11. Factories and Farms 5 11.0 9.9%

12. American Quilt 4 10.4 9.4%

Total 65 111.1 100%


LifeMode Household Changes

2.4%

1.4%

-0.1%

0.8% 0.7%0.7%

0.9% 0.9%

3.0%

0.4%

0.6%

1.7%

-0.5%

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

3.5%

HighSociety

UpscaleAvenues

Metropolis Solo Acts SeniorStyles

Scholarsand

Patriots

HighHopes

GlobalRoots

FamilyPortrait

TraditionalLiving

Factoriesand Farms

AmericanQuilt

Weighted Avg 1.2%


LifeMode Average HH Size

3.0

2.6 2.6

1.9

2.1

2.3

2.4

3.1 3.1

2.52.6 2.6

1.0

1.5

2.0

2.5

3.0

3.5

HighSociety

UpscaleAvenues


Scholarsand

Patriots

HighHopes

GlobalRoots

FamilyPortrait

TraditionalLiving

Factoriesand Farms

AmericanQuilt

Weighted Avg 2.7


LifeMode Median Age

39.7 39.5

34.6 34.5

48.0

23.3

31.630.6 31.1

37.8 38.238.9

20.0

25.0

30.0

35.0

40.0

45.0

50.0

HighSociety

UpscaleAvenues


Scholarsand

Patriots

HighHopes

GlobalRoots

FamilyPortrait

TraditionalLiving

Factoriesand Farms

AmericanQuilt

Weighted Avg 36.9


LifeMode Median HH Income

$110,539

$68,949

$43,080

$55,013

$44,357

$27,807

$43,617

$34,893

$51,266$48,498

$38,971$43,614

$0

$20,000

$40,000

$60,000

$80,000

$100,000

$120,000

HighSociety

UpscaleAvenues


Scholarsand

Patriots

High Hopes GlobalRoots

FamilyPortrait

TraditionalLiving

Factoriesand Farms

AmericanQuilt

Weighted Avg $52,762


LifeMode Median Net Worth

$307,857

$176,048

$75,930

$96,721

$130,131

$18,699

$58,308

$38,337

$116,393

$88,474

$64,671$75,088

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

HighSociety

UpscaleAvenues


Scholarsand

Patriots


FamilyPortrait

TraditionalLiving

Factoriesand Farms

AmericanQuilt



LifeMode Median Home Value

$468,201

$303,458

$206,877

$345,865

$163,450$140,642 $137,261

$227,773

$179,322

$147,494

$95,028

$123,449

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

$450,000

$500,000

HighSociety

UpscaleAvenues


Scholarsand

Patriots


FamilyPortrait

TraditionalLiving

Factoriesand Farms

AmericanQuilt



LifeMode Home Ownership Rate

91.7%

77.3%

54.1%

29.8%

71.4%

20.5%

50.0%

33.4%

75.0%

70.3%

79.0%81.9%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

90.0%

100.0%

HighSociety

UpscaleAvenues


Scholarsand

Patriots


FamilyPortrait

TraditionalLiving

Factoriesand Farms

AmericanQuilt

Weighted Avg 68%


Summary of Characteristics

Lifemode

2000-2006 Annual Pop Change (%)

Avg HH Size

Median Age

Median HH Inc

Median Net Worth

Median Home Value

Home Ownership Rate (%)

L1 High Society 2.4% 3.0 39.7 $110,539 $307,857 $468,201 92%L2 Upscale Avenues 1.4% 2.6 39.5 $68,949 $176,048 $303,458 77%L3 Metropolis -0.1% 2.6 34.6 $43,080 $75,930 $206,877 54%L4 Solo Acts 0.8% 1.9 34.5 $55,013 $96,721 $345,865 30%L5 Senior Styles 0.7% 2.1 48.0 $44,357 $130,131 $163,450 71%L6 Scholars and Patriots 0.7% 2.3 23.3 $27,807 $18,699 $140,642 21%L7 High Hopes 0.9% 2.4 31.6 $43,617 $58,308 $137,261 50%L8 Global Roots 0.9% 3.1 30.6 $34,893 $38,337 $227,773 33%L9 Family Portrait 3.0% 3.1 31.1 $51,266 $116,393 $179,322 75%L10 Traditional Living 0.4% 2.5 37.8 $48,498 $88,474 $147,494 70%L11 Factories and Farms 0.6% 2.6 38.2 $38,971 $64,671 $95,028 79%L12 American Quilt 1.7% 2.6 38.9 $43,614 $75,088 $123,449 82%

1.2% 2.7 36.9 $52,762 $116,266 $243,075 68%Note: Data reflects calculated weighted averages for data provided for Tapestry Segments for each Life Mode.Source: ESRI; Economics Research Associates, August 2007.

Weighted Average


Markets by Locationsegment distribution

Largest Cities Cities Suburban Town/Rural USHouseholds 14,171,110 24,450,471 45,425,598 27,089,713 111,136,892Homeowner Households 5,014,932 14,503,194 33,315,995 22,243,775 75,077,896Homeownership Rate 35% 59% 73% 82% 68%

Income Largest Cities Cities Suburban Town/Rural US< $25,000 30.0% 18.4% 20.9% 26.8% 23.0%$25,000-$49,999 24.7% 24.4% 24.5% 30.7% 26.0%$50,000-$99,999 27.5% 32.0% 32.9% 31.6% 31.7%$100,000-$149,999 10.4% 13.8% 13.7% 8.0% 11.9%$150,000+ 7.5% 11.4% 8.0% 3.0% 7.5%

100.0% 100.0% 100.0% 100.0% 100.0%Home Value< $50,000 4.8% 3.6% 7.5% 18.8% 9.0%$50,000-$89,999 5.7% 6.7% 13.2% 18.8% 12.2%$90,000-$174,999 11.7% 27.1% 31.6% 34.1% 28.7%$175,000-$399,999 35.6% 35.5% 36.2% 23.4% 32.9%$400,000-$499,999 13.2% 6.9% 4.4% 2.0% 5.5%$500,000-$749,999 15.9% 9.0% 4.3% 1.7% 6.1%$750,000-$999,999 6.2% 4.4% 1.5% 0.5% 2.5%$1,000,000+ 7.1% 6.8% 1.4% 0.7% 3.1%

100.0% 100.0% 100.0% 100.0% 100.0%Home Type1 - Detached 25.1% 52.6% 70.6% 69.6% 60.6%1 - Attached 7.9% 6.9% 6.2% 1.4% 5.4%2 to 4 Units 20.7% 8.8% 8.9% 2.9% 8.9%5 to 19 Units 17.7% 15.9% 6.4% 1.7% 8.8%20+ Units 27.8% 14.1% 4.4% 0.8% 8.6%Mobile Home 0.8% 1.7% 3.4% 23.0% 7.5%Boat/RV/Van 0.1% 0.1% 0.1% 0.6% 0.2%

100.0% 100.0% 100.0% 100.0% 100.0%Family CompositionFamily Mix 37.1% 15.0% 8.6% 12.8% 14.7%Married Couple Families 5.0% 24.4% 18.7% 66.3% 29.8%Married Couples w/Kids 0.0% 8.9% 14.0% 0.0% 7.7%Married Couples w/No Kids 0.0% 0.0% 6.8% 6.7% 4.4%MC w/No Kids; Singles 0.0% 0.0% 6.9% 5.0% 4.0%Mixed 14.0% 21.2% 36.7% 9.3% 23.7%Other Family HHs; Singles 5.4% 0.0% 2.6% 0.0% 1.8%Shared; Singles 0.0% 2.1% 0.0% 0.0% 0.5%Single Parent Fams; Singles 5.6% 0.0% 0.0% 0.0% 0.7%Singles; Shared 27.6% 21.4% 2.0% 0.0% 9.1%Singles 5.3% 7.0% 3.6% 0.0% 3.7%

100.0% 100.0% 100.0% 100.0% 100.0%


Markets by Location% of US Total

Largest Cities Cities Suburban Town/Rural USHouseholds 14,171,110 24,450,471 45,425,598 27,089,713 111,136,892Homeowner Households 5,014,932 14,503,194 33,315,995 22,243,775 75,077,896Homeownership Rate 35% 59% 73% 82% 68%

Income Largest Cities Cities Suburban Town/Rural US< $25,000 3.8% 4.1% 8.5% 6.5% 23.0%$25,000-$49,999 3.1% 5.4% 10.0% 7.5% 26.0%$50,000-$99,999 3.5% 7.0% 13.5% 7.7% 31.7%$100,000-$149,999 1.3% 3.0% 5.6% 1.9% 11.9%$150,000+ 1.0% 2.5% 3.3% 0.7% 7.5%

12.8% 22.0% 40.9% 24.4% 100.0%

Home Value Largest Cities Cities Suburban Town/Rural US< $50,000 0.6% 0.8% 3.0% 4.6% 9.0%$50,000-$89,999 0.7% 1.5% 5.4% 4.6% 12.2%$90,000-$174,999 1.5% 6.0% 12.9% 8.3% 28.7%$175,000-$399,999 4.5% 7.8% 14.8% 5.7% 32.9%$400,000-$499,999 1.7% 1.5% 1.8% 0.5% 5.5%$500,000-$749,999 2.0% 2.0% 1.7% 0.4% 6.1%$750,000-$999,999 0.8% 1.0% 0.6% 0.1% 2.5%$1,000,000+ 0.9% 1.5% 0.6% 0.2% 3.1%

12.8% 22.0% 40.9% 24.4% 100.0%

Home Type Largest Cities Cities Suburban Town/Rural US1 - Detached 3.2% 11.6% 28.9% 17.0% 60.6%1 - Attached 1.0% 1.5% 2.5% 0.3% 5.4%2 to 4 Units 2.6% 1.9% 3.6% 0.7% 8.9%5 to 19 Units 2.3% 3.5% 2.6% 0.4% 8.8%20+ Units 3.5% 3.1% 1.8% 0.2% 8.6%Mobile Home 0.1% 0.4% 1.4% 5.6% 7.5%Boat/RV/Van 0.0% 0.0% 0.0% 0.1% 0.2%

12.8% 22.0% 40.9% 24.4% 100.0%

Family Composition Largest Cities Cities Suburban Town/Rural USFamily Mix 4.7% 3.3% 3.5% 3.1% 14.7%Married Couple Families 0.6% 5.4% 7.7% 16.2% 29.8%Married Couples w/Kids 0.0% 2.0% 5.7% 0.0% 7.7%Married Couples w/No Kids 0.0% 0.0% 2.8% 1.6% 4.4%MC w/No Kids; Singles 0.0% 0.0% 2.8% 1.2% 4.0%Mixed 1.8% 4.7% 15.0% 2.3% 23.7%Other Family HHs; Singles 0.7% 0.0% 1.1% 0.0% 1.8%Shared; Singles 0.0% 0.5% 0.0% 0.0% 0.5%Single Parent Fams; Singles 0.7% 0.0% 0.0% 0.0% 0.7%Singles; Shared 3.5% 4.7% 0.8% 0.0% 9.1%Singles 0.7% 1.5% 1.5% 0.0% 3.7%

12.8% 22.0% 40.9% 24.4% 100.0%


10 Largest SegmentsMedian Income $150,000 +

Income Qualified HouseholdsLargest Cities Cities Suburban Town/Rural Total % Total % Group

High Society - 3,995,453 7,466,185 - 11,461,638 56% 98%Upscale Avenues - 1,528,609 2,829,431 - 4,358,040 21% 28%Metropolis - - - - - 0% 0%Solo Acts 1,163,283 - - - 1,163,283 6% 15%Senior Styles - - - - - 0% 0%Scholars and Patriots - - - - - 0% 0%High Hopes - - - - - 0% 0%Global Roots - - - - - 0% 0%Family Portrait - - 3,656,024 - 3,656,024 18% 42%Traditional Living - - - - - 0% 0%Factories and Farms - - - - - 0% 0%American Quilt - - - - - 0% 0%

1,163,283 5,524,062 13,951,640 - 20,638,985 100% 19%Percent Distribution 6% 27% 68% 0% 100%


10 Largest SegmentsMedian Income $100,000 to $149,999


High Society - 1,604,831 7,466,185 - 9,071,016 32% 77%Upscale Avenues - 1,974,932 6,063,068 3,547,328 11,585,328 41% 74%Metropolis - - - - - 0% 0%Solo Acts - - - - - 0% 0%Senior Styles - - - - - 0% 0%Scholars and Patriots - - - - - 0% 0%High Hopes - - - - - 0% 0%Global Roots - - - - - 0% 0%Family Portrait - - 3,656,024 - 3,656,024 13% 42%Traditional Living - - - - - 0% 0%Factories and Farms - - - - - 0% 0%American Quilt - - - 4,135,120 4,135,120 15% 40%

- 3,579,763 17,185,277 7,682,448 28,447,488 100% 26%Percent Distribution 0% 13% 60% 27% 100%


10 Largest Segments Median Income $50,000 to $99,999


High Society - - 3,050,339 - 3,050,339 9% 26%Upscale Avenues - - 6,063,068 3,547,328 9,610,396 30% 61%Metropolis - - - - - 0% 0%Solo Acts - - - - - 0% 0%Senior Styles - - - - - 0% 0%Scholars and Patriots - - - - - 0% 0%High Hopes - 2,686,945 - - 2,686,945 8% 57%Global Roots - - - - - 0% 0%Family Portrait - - 3,656,024 - 3,656,024 11% 42%Traditional Living - - 6,258,491 - 6,258,491 19% 62%Factories and Farms - - - 3,156,113 3,156,113 10% 29%American Quilt - - - 4,135,120 4,135,120 13% 40%

- 2,686,945 19,027,922 10,838,561 32,553,428 100% 29%Percent Distribution 0% 8% 58% 33% 100%


Analysis and Opportunities Strengths

Relatively pristine Large number of waterfront development opportunities. Affordability an option (land price) Warm climate Less risk from natural disasters

Opportunities Vast waterfront areas, including rivers, streams and lakes Optimum size lakes with proximity to economic and urban centers Primary residences – local market conditions Integrated, mixed use waterfront development (at best locations.)

Weaknesses Smaller market Abundant competitive sites across region Lower population growth rates, especially in the target age groups Low average household incomes Limited number of lakes with optimum scale and size High levels of vacant and renter-occupied homes Lacks Unique Selling Proposition (USP) Not widely recognized at the national level Financing (everywhere)


Strategies to Move Forward

Developing a waterfront vision – Generate a sense of community ownership of the

waterfront and defining its future

Establishing partnerships – Strengthen community involvement and ensure the key

players are on board

Taking a look around – Understand your waterfront opportunities, its assets, key

issues and opportunities

Developing a strategy – Pull it all together to fulfill your vision

Taking it one step at a time – Implement your vision


David NissensonConsultant

142 North Abingdon StreetArlington, VA 22203

Email: [email protected]: 571-214-9326

Contact Information


End of Presentation Questions and Answers


High Society 11.7 MM Households

10.6% of all households

Nearly one-quarter of all household income

Professionals and management

Well-educated

High levels of home ownership

Mostly married couples

Affluent neighborhoods

Limited ethnic diversity

Civic responsibilities, exercise, financial planning, travel, Internet or print over TV


Upscale Avenues 15.7 MM households

14.2% of all households

Prosperous through hard work

Well-educated

Home ownership varies by personal taste

Invest in their homes

Savers/investors

Leisure activities include golf and bicycling

Partial to new cars


High Hopes 4.7 MM households

4.2% of all US households

Prefer single-family homes

50% own their homes

Mobile

Younger, college-educated

One-third less than 35 years of age

Mix of married couples, single-parent families, and singles


Family Portrait 8.6 MM households


Fastest growing LifeMode

Families w/ Children

Ethnically diverse

30 percent Hispanic

Single-family homes

Large household size

Visit theme parks and zoos

Own minivans or SUV


Traditional Living 10.1 MM households


Middle America

Higher median age

Live in older, slower growing established neighborhoods

Buy American sedans

Belong to fraternal organizations

Rely on traditional information sources for news (newspapers)

February 4, 2009 Mississippi Lakes Symposium Demographic Overview Sardis Lake, Mississippi.

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Transcript of February 4, 2009 Mississippi Lakes Symposium Demographic Overview Sardis Lake, Mississippi.