Preliminary Market Data

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November 21, 2013
Preliminary Report – Housing Inventory and Demographics
This report summarizes 2010 Census, Summary File 1 data on the following areas:




Primary Study Area: The area bounded by Grand Ave. on the north, 7th St. on the east, Pitkin
Ave. on the south and 1st St. on the west.
Northern Portion: the part of the secondary study area directly north of the primary study area
extending northward to North Ave.
Eastern Portion: the part of the secondary study area extending from North Ave. on the north,
12th St. on the east, Pitkin Ave. on the south and 7th St. on the west.
The entire study area combined.
Since the southern boundary for Census Tracks 2 and 3 is Pitkin Ave., the boundary for the areas extends
one block south of Ute.
Housing Inventory - # of Units, Vacancy Rate and Owner/Renter Mix
As of 2010, a total of 2,043 housing units were located within the entire study area. Only 115 units or
5.6% were within the Primary Study Area. Of the far larger housing inventory in the Secondary Study
About 60% were within the eastern portion and 34% were in the northern portion.
Overall, renter occupied units out number owner occupied units 2 to 1. This is the inverse of the
owner/renter mix city wide where 62.4% were ownership occupied. The vacancy rate was 9% in 2010,
which was higher than the rate for Grand Junction of 7.1%, but not bad considering it was a the depth of
the Recession.
The vacancy rate was highest in the Primary Study Area (14%) as was the percentage of units that were
renter occupied (92%). The vacancy rate and percentage renter occupied were lowest in the eastern
portion of the Secondary Market Area.
Downtown Grand Junction Housing Inventory, 2010
Number
Housing Units
Vacant
Occupied
Owner Occupied
Renter Occupied
Percent
Housing Units
Vacant
Occupied
Owner Occupied
Renter Occupied
Percent of Study Area
Rees Consulting, Inc.
Primary Study
Area
115
16
99
8
91
Eastern
Portion
1,226
100
1,126
337
789
Northern
Portion
702
70
632
243
389
Entire Study
Area
2,043
186
1,857
588
1,269
100%
14%
86%
8%
92%
5.6%
100%
8%
92%
30%
70%
60.0%
100%
10%
90%
38%
62%
34.4%
100%
9%
91%
32%
68%
100.0%
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November 21, 2013
Household Composition
Within the Entire Study Area:
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
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
The majority of residents are singles.
Half are one person households.
Couples without kids and other non-family/roommate households are about equal at 16% each.
Children reside in only 8% of the occupied units.
Within the Primary Study Area:



There are proportionately more 1-person households; one person lives alone in about ¾ of the
occupied housing units;
Roommates live in about 1/3 of the units;
The 2010 Census found no children residing there.
While the composition of households is very similar in the eastern and northern portions of the
Secondary Study Area, the northern portion has slightly fewer single persons living alone (45%
compared with 51% in the northern portion).
Downtown Grand Junction Households, 2010
Household Type
Primary
Study
Area
Eastern
Portion
Northern
Portion
Entire
Study
Area
Number
All Households
1-Person Living Alone
Other Non-Family Households
Couple, No Children
Couple with Children
99
75
32
8
0
1,126
574
165
176
90
632
286
100
105
50
1,857
935
297
289
140
Percent
All Households
1-Person Living Alone
Other Non-Family Households
Couple, No Children
Couple with Children
100%
76%
32%
8%
0%
100%
51%
15%
16%
8%
100%
45%
16%
17%
8%
100%
50%
16%
16%
8%
Population and Age
The Entire Study Area had a population of 3,417 persons in 2010; 147 persons or just over 4% resided
within the Primary Study Area.
The Entire Study Area has attracted a Gen Y population with 24% of the overall population in the 20 to
29 age range. This is likely due to the location of Colorado Mesa University just north of the Secondary
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November 21, 2013
Market Area boundary. Only 20% of the population within the Primary Study Area is within this age
range although this is higher than in the city as a whole (16.6%).
There is one distinct and very relevant difference in the age distribution between the Primary Study
Area and both portions of the Secondary Study Area. In the Primary Study Area, 29% of the population
are in the 50 to 59 age range as compared to 16% in the Secondary Study area and less than 14% city
wide. This is the same age group that was the first to move in significant numbers into downtown
Denver in the late 1980’s and early 90’s. They are typically empty nesters at their income-earning peak
who want low maintenance, market rate housing convenient to work.
The downtown area has not attracted many seniors. Overall, 10% of the population is age 66 or older.
This compares with 15.6% city wide.
Downtown Grand Junction Population by Age, 2010
Age Category
Primary
Study
Area
Eastern
Portion
Northern
Portion
Entire
Study
Area
Number
Under 5 years
5 to 19 years
20 to 29 years
30 to 39 years
40 to 49 years
50 to 59 years
60 to 64 years
25 to 64 years
65 to 74 years
75+ years
85+ years
Total Population
3
8
30
12
24
43
12
107
12
3
0
147
117
291
517
307
229
338
107
1,193
115
89
24
2,110
71
151
299
196
141
193
58
735
53
53
17
1,215
191
450
846
515
394
574
177
2,035
180
145
41
3,472
Under 5 years
5 to 19 years
20 to 29 years
30 to 39 years
40 to 49 years
50 to 59 years
60 to 64 years
25 to 64 years
65 to 74 years
75+ years
85+ years
Total Population
2%
5%
20%
8%
16%
29%
8%
73%
8%
2%
0%
100%
6%
14%
25%
15%
11%
16%
5%
57%
5%
4%
1%
100%
6%
12%
25%
16%
12%
16%
5%
60%
4%
4%
1%
100%
6%
13%
24%
15%
11%
17%
5%
59%
5%
4%
1%
100%
Percent
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November 21, 2013
Race and Ethnicity
The study area as a whole has attracted relatively more persons of Hispanic origin than for Grand
Junction as a whole (17% compared to 14% of the population) yet this is not the case within the Primary
Study area where Hispanics comprise 13% of the population.
Downtown Grand Junction Population by Race/Ethnicity, 2010
Number
Total Population
White
Other Races
Hispanic or Latino
Percent
Total Population
White
Other Races
Hispanic or Latino
Primary
Study
Area
147
129
18
19
100%
88%
12%
13%
Eastern
Portion
Northern
Portion
2,110
1,784
326
350
1,215
1,043
172
213
Entire
Study
Area
3,472
2,956
516
582
100%
85%
15%
17%
100%
86%
14%
18%
100%
85%
15%
17%
Source: 2010 U.S. Census, Summary File 1
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