Vacation City: Orlando, Fla.
May 15, 2006-- Casual Living,
Orlando, Fla., home to Mickey Mouse and friends, is far more than the country's playground. In the next five years, the area is projected to be among the fastest growing in the nation, both in population and income.
Statisticians at New York-based Easy Analytic Software Inc., predict that, of the more than 900 metropolitan areas in the nation, Orlando will be No. 28 in terms of population growth from 2005 to 2010. Especially important to folks selling outdoor furniture and grills, Orlando's fastest growing age group is expected to be those between the ages of 25 and 44 years. These are prime buying years for outdoor living products.
Orlando's household income balance also is expected to shift substantially over the next five years. In 2005, those with a median annual household income of under $25,000 made up one-forth of the area's population. That number is projected to decline to just 18% by 2010. In turn, households with median income of at least $75,000 is predicted by EASI to increase to 35% of Orlando households, compared with just 24% in 2005.
In spending on casual living products, Orlando ranks in the upper half of the nation's metropolitan areas, with outdoor furniture expenditures of nearly $17 million in 2005 and more than $20 million on grills. EASI projects spending on grills will increase by 30% in 2010 and by 33% for outdoor furniture.
|total population in millions||1.9||2.1||13%|
|average household size||2.53||2.47|
|total housing units||793,408||915,759||15%|
|median value of owner households||$102,124||$104,458||2%|
Households by Race & Ethnicity
|$25,000 to $34,999||13%||10%|
|$35,000 to $49,999||18%||16%|
|$50,000 to $74,999||20%||21%|
|$75,000 or more||24%||35%|
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