Home Roofing Contractor Free Roofing Contractor Business Plan 4.2 Population and Household Summary
4.2 Population and Household Summary
Changes in Population:
When we examine the population changes between Kenty county and the rest of the state of Michigan, a very interesting fact emerges. Between 1990 and 2015 Kent county has seen a growth of 27.1% in its population as compared to only 6.7% for the state of Michigan. This clearly indicates that contrary to popular beliefs, folks have been moving into the mid-west inspite of the loss of manufacturing jobs. There are many areas like the greater Detroit area, where folks have simply left over the last 25 to 30 years, but that does not hold true for the rest of the midwest.
Median Age:
The median age of the population of Kent county is 34.7 as compared to 39.3 for the state of Michigan. This of course indicates that the target market of Kent county has a relatively younger population that the rest of the state - good news for a small business like Roofing. A young population with plenty of folks in their prime productive working years is indicative of better buying power that is reflected in a higher need for housing and other services.
Male to Female ratio:
51% of the population for Kent county and the state are women as compared to 49% being men. This presents a good balance between the two sexes and is farily consistent with the ration in the rest of the country.
Civilian Labor Force:
When we compare the changes in the labor force between 1990 and 2015 for Kenty county and the state of Michigan, the differences are quite staggering. We find that the overall civilian labor force has increased 25.6% during that time in Kent county as compared to an increase of only 3.2% statewide. This supports our earlier conclusions that folks have been migrating to different regions of the midwest but not to the large traditional manufacturing centers like Detroit.
Households Income and Poverty:
The average household size in Kent county is 2.62 as compared to 2.52 statewide in Michigan. The medain household income in Kent county is $52,716, about 7% more than the average household income in the state of Michigan which is $49,087. The per capital income for both Kent county and Michigan state is about the same at a little over $26k. The same applies to the overall poverty rate which stands at 15.3% for Kent county and 16.2% for the state of Michigan.
Quick Links:
- Go to the Corresponding Template section for this industry.
- Go to the Corresponding Questionnaire section for this industry.
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