New York Avenue Corridor Strategy Adopted Report New York Avenue Corridor Strategy Adopted Report | Page 44

MARKET CONDITIONS PSYCHOGRAPHIC PROFILE Psychographics is a term used to describe the characteristics of people and neighborhoods which, instead of being purely demographic, speak more to attitudes, interests, opinions and lifestyles. PRIZM (Claritas, Inc.) is a leading sys- tem for characterizing neighborhoods and the local workforce into one of 65 distinct market segments. propensity to spend across select retail catego- ries. Residential developers are also interested in understanding this profile as it tends to sug- gest preferences for certain housing product types. Trade Area psychographics groups are further segregated in Figure 3.14 by “lifestyle.” Life- style groups reflect household affluence, head of householder age, and household composition. As shown, the majority of Trade Area house- Commercial retail developers are interested in holds fall into the “Younger Years” and “Family understanding a community’s psychographic Life” lifestyle groups. profile, as this is Top PRIZM Segments by Lifestage Group  an indication of its resident’s Top PRIZM Segments by Lifestage Group  New York Avenue Trade Area New York Avenue Trade Area Lifestyle Segment Lifestyle Segment New Beginnings New Beginnings Young Influentials Young Influentials City Startups City Startups Boomtown Singles Boomtown Singles Home Sweet Home Home Sweet Home Younger Years Subtotal Younger Years Subtotal Family Thrifts Family Thrifts White Picket Fences White Picket Fences Blue‐Chip Blues Blue‐Chip Blues Upward Bound Upward Bound Kids and Cul‐de‐Sacs Kids and Cul‐de‐Sacs Family Life Subtotal Family Life Subtotal Middleburg Managers Middleburg Managers Sunset City Blues Sunset City Blues Pools and Patios Pools and Patios Second City Elite Second City Elite Old Glories Old Glories Mature Years Subtotal Mature Years Subtotal Total Top Segments Total Top Segments Total Trade Area Total Trade Area Area  Area  Households Households 11,542 11,542 8,364 8,364 8,176 8,176 5,668 5,668 4,448 4,448 38,198 38,198 9,416 9,416 9,062 9,062 5,092 5,092 4,517 4,517 4,123 4,123 32,210 32,210 3,388 3,388 3,122 3,122 2,661 2,661 2,641 2,641 2,565 2,565 14,377 14,377 84,785 84,785 118,004 118,004 State of Texas  % of Total  % of Total  State of Texas  Index=100* Households Households Index=100* 9.8% 9.8% 420 420 7.1% 7.1% 382 382 6.9% 6.9% 503 503 4.8% 4.8% 339 339 3.8% 3.8% 199 199 32.4% 32.4% ‐‐ ‐‐ 8.0% 8.0% 254 254 7.7% 7.7% 306 306 4.3% 4.3% 151 151 3.8% 3.8% 122 122 3.5% 3.5% 112 112 27.3% 27.3% ‐‐ ‐‐ 2.9% 2.9% 169 169 2.6% 2.6% 144 144 2.3% 2.3% 272 272 2.2% 2.2% 172 172 2.2% 2.2% 170 170 12.2% 12.2% ‐‐ ‐‐ 71.8% 71.8% ‐‐ ‐‐ 100.0% 100.0% ‐‐ ‐‐ *  Indicates concentration of this segment relative to U.S. average.  A segment *  Indicates concentration of this segment relative to U.S. average.  A segment    index of 200 would mean that this group contains 2 times the concentration      index of 200 would mean that this group contains 2 times the concentration      of households compared to the average U.S. community.      of households compared to the average U.S. community.   Source:  Claritas, Inc. and Ricker│Cunningham.  Source:  Claritas, Inc. and Ricker│Cunningham.  Figure 3.14 Top Prism Segments by Lifestyle Group ARLINGTON, TEXAS 36