Albany Market Research
Market Research Company Albany
Drive Research is a market research company serving Albany, NY and the Capital District. Our market research company assists businesses and organizations across Upstate New York with its market research needs. Our team focuses on both quantitative and qualitative market research each producing different but valuable feedback and data on markets, products, and services.
Our qualitative market research includes services such as focus groups and in-depth interviews. Qualitative market research is aimed to explore topics. Quality and depth of feedback is the goal of qualitative market research. Qualitative market research projects are broken down into small groups or 1-on-1 discussions with participants using a moderator to guide the market research. Our qualitative market research services in Albany provide you with the exploratory insight your company or organization needs. We've managed and hosted focus groups in the Albany New York area and across the country for our clients.
Drive Research also offers a number of quantitative market research services. Whereas qualitative market research focuses on exploratory feedback, the goal of the quantitative market research is aimed at measuring feedback. Quantitative research is designed to measure and create scientifically reliable feedback to provide your organization with the knowledge, power, and confidence in your decision-making. Some of the best and most comprehensive market research studies start with qualitative market research followed by qualitative.
Our quantitative market research services in Albany include online surveys, phone surveys, and mail surveys. Our market research team separates ourselves from other market research companies in Albany by providing higher quality data and offering interpretation, insight, and recommended actions from the research. While many firms stop with the data, we use it to get started to fuel our recommendations to your organization. It's not the market research which provides your organization value, it's what's done with it.
Questions about how our Albany market research company can help your organization? Contact our team at Drive Research.
Albany Market Data
At Drive Research it is our goal to understand the markets we operate in. We have access to proprietary and syndicated resources which provide our clients with access to rich and in-depth data for markets, consumers, households. The data below is a snapshot of the Albany market including data for the population, households, incomes, housing, and employment.
What counties make up the Albany-Schenectady-Troy designated market area (DMA)?
The DMA is made up of a 14 county market area in the Capital region. These 14 counties include:
The population estimate in this selected geography is 1,397,256. The 2010 Census revealed a population of 1,390,892 and in 2000 it was 1,343,742 representing a 3.5% change. It is projected the population in this area will be 1,425,612 in 2021, representing a change of 2.0% from 2016 estimates. The current population is 49.2% male and 50.8% female. In 2016, the median age of the population in this area was 41.9, compared to the Entire US median age which was 37.7. The population density in the Albany DMA is 135.2 people per square mile.
There are currently 573,317 estimated households in the Albany 14-county market area. The Census revealed household counts of 569,811 in 2010 and 536,668 in 2000, representing a change of 6.2%. In 2010, the average number of years in residence in this geography's population was 15.4. The average household size in this geography was 2.4 people and the average family size was 3.0 people. The average number of vehicles per household in this geography was 1.8.
In 2016, the median household income in the Albany DMA was $58,348, compared to the Entire US median which was $55,159. The Census revealed median household incomes of $52,731 in 2010. It is projected the median household income in this area will be $67,859 in 2021, which would represent a change of 16.3% from the current year. In 2016, the per capita income in this area was $29,102, compared to the Entire US per capita, which was $28,088. The 2016 average household income for this area was $32,076, compared to the Entire US average which was $30,249.
The median housing value in the DMA was $99,570 in 2000; compare this to the Entire US median of $110,813 for the same year. The estimated median housing value in 2016 in this area is $186,424; compare this to the Entire US median of $190,673 for the same year. In 2010 there were 84.3% owner occupied housing units in this area versus 84.3% estimated in 2016. Also in 2010, there were 0.3% renter occupied housing units in this area vs. 0.3% estimated in 2016.
In 2016, there were 1,154,851 people over the age of 16 in the labor force in the Albany DMA. Of these 94.2% were employed, 5.5% were unemployed, 37.9% were not in the labor force and 0.3% were in the Armed Forces. In 2016, Civilian unemployment in this area was 5.5%. In Q4 2016, there were 853,852 employees in this selected area (daytime population) and there were 51,718 establishments. For this area in 2016, white collar workers made up 63.6% of the population, and those employed in blue collar occupations made up 18.2%. Service and Farmworkers made up 18.2% of the population. In 2010, the average time traveled to work was 24 minutes.
Source: Alteryx Analytics, United States Census Bureau, Experian Inc.