Population growth percents vs, numbers: when evaluating market potential for rental apartments, think twice about relying too heavily on population growth rates, Often, the number of persons gained is a more accurate assessment.An evaluation of rental apartment markets can be based on population growth rates Growth Rates The compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures. Notes: Remember, historically high growth rates don't always mean a high rate of growth looking into the future. or actual numbers of people added to a market. Percentages and actual numbers tell different stories and it is important to understand what each means to the apartment industry. The U.S. Census Bureau Noun 1. Census Bureau - the bureau of the Commerce Department responsible for taking the census; provides demographic information and analyses about the population of the United States Bureau of the Census recently released lists of the top 100 growing counties--by rate and numerical population change--providing apartment industry professionals with markets to evaluate. Overall, many of the counties on the top percentage growth list are in areas where development consists almost exclusively of single-family homes. For these counties, apartment development is probably somewhere in the more distant future. The top 25 counties in terms of percentage growth during the year period ending July 1, 2004, added 146,658 persons. The top 25 counties in terms of numerical increases added 944,855 persons, a more than 6 to 1 ratio compared to the top 25 counties with growth in terms of percentage. Top 25 Counties By Percent Change Flagler County, Fla., was the fastest-growing county in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. during the year period ending July 1, 2004, rising by 10.1 percent, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. estimates recently released by the U.S. Census Bureau. But take note, Flagler County's growth rate translated into a modest population increase of 6,309 people. This change in population ranked 100th among all counties. While Flagler County has longer-term potential for greater population growth in number of persons--it lies on the northeast Atlantic coast between the Jacksonville and Deltona-Daytona Beach metropolitan statistical area (MSA (Metropolitan Service Area) An urban area with at least 50,000 people plus surrounding counties. There are 306 MSAs and 428 RSAs (rural service areas) in the U.S. MSAs and RSAs are used to allocate cellular licenses. )--it may not seem headed for expansion if looking at growth by percentages (since they can be deceptive in some cases). None of the counties in the top 25 for growth by percentage made the top 25 for growth by numbers of people. For example, Loudoun County, Va., a Washington, D.C., MSA, ranked third in percent growth but placed 27th for growth in the numbers of persons. Loudoun County, located approximately 25 miles west of Washington, D.C., is a principal player in the continuing development of the Washington metro area This article is about the music production team. For the article about population centers, see metropolitan area. Metro Area are a Brooklyn-based dance music production team composed of Morgan Geist and Darshan Jesrani. as it continues fringe expansion. Other examples of urban spread to outlying counties in metro areas among the top 25 counties for population rate growth, include the following MSAs: * Atlanta: Newton (12th), Henry (14th), Forsyth (15th), Paulding (19th) and Barrow (24th) * Orlando, Fla.: Osceola (11th) and Lake (22nd) * Jacksonville, Fla.: St. Johns (9th) * Chicago: Kendall (2nd) The limitation of using the percentage of growth as a principal guide to geographic areas with rental apartment opportunities is shown in the counties that placed 20th and 21st on the growth list: Storey, Nev., and Golden Valley, Mont. These two counties grew 5.8 percent and 5.7 percent, respectively, translating into 205 and 60 persons, respectively. Top 25 Counties By Persons Gained With the addition of 112,233 persons, Maricopa County, Ariz.--the county encompassing Phoenix--led all counties in the growth of the number of persons during the year period ending July 1, 2004. The numerical increase translated into a relatively strong 3.3 percent, but this rate is well below the threshold to make the top 100 list for growth rate. Riverside and Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. counties in California The U.S. state of California is divided into fifty-eight counties. Counties are responsible for all elections, property-tax collection, maintenance of public records such as deeds, and local-level courts within their borders, as well as providing law enforcement (through the county ranked second and third on the numbers of persons added list. They added 89,128 and 77,357 persons, respectively. Four other counties in California were on the top 25 number of persons gained list: San Bernardino San Bernardino, city, United States San Bernardino (săn bûr'nədē`nō), city (1990 pop. 164,164), seat of San Bernardino co., S Calif., at the foot of the San Bernardino Mts.; inc. 1854. (5th), Orange (13th), Sacramento (21st) and Kern (22nd). These California counties added a total of 295,979 persons. Seven counties in Texas were among the top 25 persons gained list: Harris (6th), Tarrant (7th), Collin (9th), Bexar (15th), Hidalgo Hidalgo, state, Mexico Hidalgo (ēthäl`gō), state (1990 pop. 1,888,366), 8,058 sq mi (20,870 sq km), central Mexico. Pachuca de Soto is the capital. (18th), Fort Bend Fort Bend was a blockhouse built in a large bend of the Brazos River in what is now Fort Bend County, Texas to provide protection against Indian raids. It was erected in November 1822 by several members of Stephen F. Austin's Old Three Hundred, including William W. (19th) and Denton (24th). In total they added 205,457 persons. Florida had seven counties on the top 25 persons gained list: Palm Beach (8th), Hillsborough (11th), Miami-Dade (12th), Broward (16th), Orange (7th), Lee (20th) and Pasco (25th). They added a total of 179,317 persons. Robert J. Sheehan, NAA's consulting economist, can be reached at riscmc@comcast.net. |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion