It's Hot: Phoenix, Az.: Phoenix-Scottsdale, Arizona Metropolitan Area
September 15, 2006-- Casual Living,
The Phoenix metro area is hot in more ways than one for casual furniture retailers. Spending on deck/patio/pool furniture is expected to rise nearly 35% in the coming five years, according to statisticians at New York-based Easy Analytic Software Inc., compared with a projected nationwide increase of 23%. Barbecue/grill spending is also anticipated to outpace the national average, 23% to 21%.
Much of the growth may be attributed to a projected 14% population increase in the Phoenix-Mesa-Scottsdale area. Of the more than 900 metropolitan areas in the nation, greater Phoenix will be No. 18 in terms of population growth from 2005 to 2010, EASI predicts. The national growth rate is expected to be 5%.
Especially important to folks selling outdoor furniture and grills, Phoenix's fastest-growing age group is expected to be those between the ages of 25 and 54 years. These are prime buying years for outdoor living products.
Affording outdoor living products shouldn't be a problem for residents — the median projected household income in Phoenix is expected to be $61,148 in 2010 — 5% higher than the national median. The number of affluent residents — those with an annual income of at least $75,000 — is projected to increase by more than two-thirds in Phoenix by 2010, compared with a national rate of about 50%.
For those who enjoy outdoor living in warm, sunny climates, coupled with a variety of things to do and places to see, the greater Phoenix area is a prime destination site. With more than 325 days of annual sunshine and an average high temperature of 85 degrees, the region is ideal for outdoor activities.
|average household size||2.62||2.56|
|total housing units||1,566,718||1,827,354||17%|
|median value of owner households||$122,522||$124,594||2%|
Households by Race & Ethnicity
|$25,000 to $34,999||11%||9%|
|$35,000 to $49,999||16%||13%|
|$50,000 to $74,999||21%||19%|
|$75,000 or more||30%||43%|
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