Upper Union Street Demographics

The following statistics are from a 2008 Market Study conducted by River Street Planning & Development based on the 2000 United States Census with updated data for 2008 and projections through 2013 from Claritas.

For more about Upper Union Street and why it is a great place to locate, please see “Why Upper Union Street”. Or, if you’d like more detail from the market study contact us.

 

Table A. Population Growth by Market Area


Population 1 mile 5 mile 10 mile MSA State
2013 Projection 15,568 149,771 335,114
2008 Estimate 15,716 146,393 327,402
2000 Census 14,729 141,012 314,439 875,583 18,976,457
1990 Census 14,956 142,130 304,780 874,304 17,990,455

 Population Growth 1 mile 5 mile 10 mile MSA State
Growth 2008-2013 2.58% 2.31% 2.36%
Growth 2000-2008 3.03% 3.82% 4.12%
Growth 1990-2000 -1.52% -0.79% 3.17% 0.15% 5.48%

Given the variety of products and services offered by Upper Union Street businesses, a conservative estimated is that the prime market area encompasses a service radius of 10 miles. Smaller service areas of 1 mile and 5 miles were also analyzed. The 1 mile market area population (over 15,000) can be considered within walking distance of the Union Street commercial district. The 5 mile market area encompasses the City of Schenectady and portions of Scotia, Niskayuna, Colonie, Clifton Park and other surrounding communities. Population in each of the three service areas has exhibited decent growth since 2000 with projections for continued increases through the next five years. Table A delineates the recent and projected growth of the population in each of the market areas. As the table shows, the 10-Mile Market Area hosts a current population in excess of 327,000 potential consumers for products and services offered by UUBID businesses. This 10 mile market area comprises more than one third of the population of the Capital Region.

 

 

Table B. 2008 Population by Age


  1 mile 5 mile 10 mile
Total Population 15,176 146,393 327,402
Under 15 3,064 20.20% 27,324 18.60% 55,343 16.90%
Age 15 - 17 748 4.93% 6,482 4.43% 14,716 4.33%
Age 18 - 20 529 3.49% 6,317 4.32% 17,591 5.37%
Age 21 - 24 733 4.83% 7,639 5.22% 17,519 5.35%
Age 25 - 34 1,756 11.57% 17,619 12.04% 39,454 12.05%
Age 35 - 44 2,105 13.87% 19,788 13.52% 44,372 13.55%
Age 45 - 49 1,156 7.62% 11,237 7.68% 25,424 7.70%
Age 50 - 54 1,128 7.43% 10,595 7.24% 24,812 7.58%
Age 55 - 59 1,042 6.87% 9,523 6.51% 22,975 7.20%
Age 60 - 64 736 4.85% 7,433 5.08% 17,320 5.29%
Age 65 and Over 2,179 14.36% 22,436 15.33% 48,415 14.79%
2008 Median Age 38.6   39.0   39.4  
2008 Average Age 38.8   39.4   39.7  

Table B shows the age cohort distribution of residents of the 1-mile, 5-mile and 10-mile market areas in 2008. Using these age cohorts as indicators of market orientation, it appears that the largest segment of the UUBID's potential market is Under 15 followed by Age 65 and over and then closely by middle-aged adults (ages 35-44), with young adults (ages 25-34) comprising the fourth largest segment. These indicators suggest that there is a diverse distribution of ages within the populations in the market area giving Union Street businesses a wide range of potential consumers to target.

 

 

Table C. 2008 Population by Sex


  1 mile 5 mile 10 mile
Total Population 15,176 146,393 327,402
Male 7,232 47.7% 70,788 48.4% 158,669 48.5%
Female 7,944 52.3% 75,605 51.6% 168,733 51.5%
Male/Female Ratio 0.91   0.94   0.94  


As in the nation in general, a slight majority (approximately 51%) of the population in each of the designated market areas are comprised of women.

 

 

Table D. 2008 Population by Single Race


  1 mile 5 mile 10 mile
Total Population 15,176 146,393 327,402
White Alone 11,933 78.63% 119,702 81.77% 282,846 86.39%
African American Alone 1,793 11.81% 13,502 9.22% 18,819 5.75%
American Indian and
Alaska Native Alone
35 0.23% 412 0.28% 748 0.23%
Asian Alone 569 3.75% 6,354 4.34% 14,883 4.55%
Native Hawaiian and
Other Pacific Islander
Alone
3 0.02% 55 0.04% 82 0.03%
Some Other Race
Alone
370 2.44% 2,352 1.61% 3,532 1.08%
Two or More Races 473 3.12% 4,016 2.74% 6,492 1.98%

Minority concentrations are greater within the 1 mile service radius than within the 5 and 10 mile market areas. This is a fairly typical distribution pattern that finds higher minority populations in the city and less in the suburban areas surrounding the central cities.

 

 

Table E. 2008 Average, Median and Per capita Income


  1 mile 5 mile 10 mile    
2008 Average Household Income $69,904 $65,438 $74,930
2008 Median Household Income $57,443 $50,261 $60,429
2008 Per Capita Income $28,809 $27,095 $30,402    
2008 Average Family
Household Income
$80,032 $78,505 $89,511    
2008 Median Family
Household Income
$68,946 $65,580 $75,822    
        MSA State
2000 Average Household Income $58,700 $52,961 $60,141    
2000 Median Household Income $48,623 $41,863 $49,126 $43,250 $43,393
2000 Per Capita Income $24,244 $21,954 $24,255 $22,303 $23,389
% Change 2000-2008
Average Income
19.1% 23.6% 24.6%    
% Change 2000-2008
Median Income
18.1% 20.1% 23.0%    
% Change 2000-2008
Per Capita Income
18.8% 23.4% 25.3%    

 

Table F. 2008 Household Income


  1 mile 5 mile 10 mile
Less than
$15,000
550 9% 7,433 12% 11,120 9%
$15,000 -
$24,999
599 10% 6,415 11% 11,172 9%
$25,000 -
$34,999
567 9% 6,758 11% 12,638 10%
$35,000 -
$49,999
953 16% 9,137 15% 19,296 15%
             
$50,000 -
$74,999
1,356 22% 11,578 19% 26,639 20%
$75,000 -
$99,999
966 16% 7,558 13% 19,304 15%
$100,000 -
$149,999
793 13% 7,403 12% 19,959 15%
$150,000 -
$249,999
262 4% 2,534 4% 8,246 6%
$250,000 -
$499,999
82 1% 711 1% 1,791 1%
$500,000
and more
17 0% 200 0% 513 0%
Greater than
$50,000
3,476 57% 29,984 50% 76,453 59%
Greater than
$100,000
1,154 19% 10,848 18% 30,509 23%

Household and Per capita income figures are key indicators of the potential buying power of residents living in the market area. In 2000, Median Household and Per capita income in the 1 mile and 10 mile market areas were higher than the region and the state as a whole. Since 2000, all of the market areas exhibited increases in all income categories.

Approximately 80% of the service area households have annual incomes of $25,000 or more and about 55% of these households earn annual incomes of $50,000 or more. Approximately 20% of these households have annual incomes of $100,000 or more.

 

Traffic Counts


The most current traffic count data for Union Street in the BID area is provided by the Capital District Transportation Committee for 2002.  The annual average daily traffic (AADT) between Brandywine and Balltown Road for 2002 was 10,600. This section of Union Street (Route 146) is classified as a Minor Urban Arterial. State Street (NYS Route 5) is classified as a Principal Urban Arterial. For comparison purposes, the section of State Street between NY 146 (Brandywine Ave) and NY 7 had an AADT of 11,400 in 2005. The section of State Street between NY 146 and Erie Boulevard (Downtown Schenectady) had an AADT of 8,100 in 2003.