NVI Technical College Information

M ARKET A REA O VERVIEW 29

COMPARATIVE DEMOGRAPHIC ANALYSIS FOR PRIMARY MARKET AREA 500 Innovation Drive - 1 mi Radius

500 Innovation Drive - 3 mi Radius

500 Innovation Drive - 5 mi Radius

Totals

Totals

Totals

Description Population

2028 Projection 2023 Estimate

697 718 734 810

6,332 6,561 6,755 7,856 43.92 43.70 2,790 2,885 2,963 3,241

9,223 9,547 9,824

2020 Census 2010 Census

11,198

2023 Est. Median Age 2023 Est. Average Age

43.09 42.60

45.20 44.20

Households

2028 Projection 2023 Estimate

312 320 326 345 2.30

4,054 4,181 4,286 4,640

2020 Census 2010 Census

2023 Est. Average Household Size

2.20

2.20

2023 Est. Households by Household Income (%) Income < $15,000

4.06% 8.13% 8.75% 6.25%

8.91% 11.30% 9.12% 11.68% 21.25% 14.25%

7.58%

Income $15,000 - $24,999 Income $25,000 - $34,999 Income $35,000 - $49,999 Income $50,000 - $74,999 Income $75,000 - $99,999 Income $100,000 - $124,999 Income $125,000 - $149,999 Income $150,000 - $199,999 Income $200,000 - $249,999 Income $250,000 - $499,999

10.09%

8.56%

12.56% 20.21% 14.85% 11.31%

27.19% 15.31%

9.38% 5.31% 9.38% 4.38% 1.25% 0.31%

9.53% 4.58% 5.27% 2.88% 1.00% 0.21%

5.69% 5.21% 2.68% 1.00% 0.21%

Income $500,000+

2023 Est. Average Household Income 2023 Est. Median Household Income

$87,636 $70,682

$73,540 $60,307

$76,554 $63,329

2023 Est. Tenure of Occupied Housing Units (%) Owner Occupied

80.31% 19.69%

68.46% 31.54%

73.64% 26.36%

Renter Occupied

2023 Est. Median All Owner-Occupied Housing Value

$175,441

$134,944

$143,782

Source: 2023 Claritas, Inc.

Growth has been in a steady decline at all radii over the past decade and is projected to continue over the next five years. Within a three-mile radius of the subject, 68.46% of the housing is owner occupied. The median household income within a one-mile radius is $70,682 and $63.329 within a five-mile radius.

F OUR B UILDING I NDUSTRIAL C OMPLEX A PPRAISAL

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