Curious about market research in Syracuse, NY? Drive Research has got you covered! In this post we will discuss key market research in Syracuse. Drive Research is a market research company making our team perfect for custom qualitative and quantitative studies. Here’s more about our services offered.
Below is secondary market research about Syracuse, NY and the surrounding Central New York area of Upstate New York. This type of secondary research can be further customized based on the needs of a market research study. Wondering how we compile this data? It’s from a proprietary in-house data system available to clients of our market research company.
Looking for examples of how this data was used in past projects? Check out recent feasibility case studies for condos and land use in Upstate New York. Both of these feasibility projects tested the success of a possible idea and used this type of secondary research.
Learn about some key statistics and market research data in Syracuse, NY below.
Population trends
Based on data from the U.S. Census, Syracuse has seen growth since 2000. Here’s a breakdown. From 2000 to 2010 population grew by 1.6%, from 2010 to 2016 population decreased slightly by 0.1%, and from 2016 to 2021 population is expected to increase 0.9%.
Curious about the raw numbers? In 2000, the population for the Syracuse market area was just over 1 million (1,000,399). In 2010, the Syracuse population grew by roughly 16,000 for a total of 1,015,966. The population remained roughly the same in 2016 with a total of 1,014,830. Estimates for 2021 predict a population increase in the Syracuse market area with a total of 1,023,567.
In regards to population segments for 2016, many were white (86%). Smaller audience segments included black, Hispanic, Native American or Alaska Native, and Asian/Native Hawaiian/Other Pacific Islander.
Gender
The gender representation gap in the Syracuse market area is becoming slightly smaller. In 2000, females represented 51.2% of the population and males represented 48.8%. In 2016, females represented 49.2% of the population and males represented 50.8%. The gap is expected to be slightly smaller in 2021 with a 50.7% female and 49.3% male split in the Syracuse market area.
Age
The Syracuse market area population age has increased from 2000 to 2016, and is estimated to increase further in 2021. In 2000, the median age was 35.7 with roughly 20% of the population being 55 years or older. The median age increased to 38.8 in 2016 with 29% of the population being 55 years or older. The biggest change during this time are baby boomers, increasing the 55 to 64 age group 48% from 2000 to 2016. For 2021, the median age is projected to be 39.5 with over 30% of the population being 55 years or older.
Income
In the Syracuse market area, income increased since 2000 and is expected to increase even further. From 2000 to 2016, income increased by nearly $20,000 (29%). The average household income in 2000 was $50,000 and in 2016 was $70,000. In 2021, the average household income in Syracuse is expected to rise to $79,000.
The percentage of white collar jobs in Syracuse was 63% in 2016 and 37% were blue collar. This is expected to remain steady in 2021.
Syracuse NY income statistics
Housing Units
The amount of occupied housing units is expected to remain steady at 90% in 2021. In 2016, 9 in 10 housing units in the Syracuse market area were occupied, which is the same ratio projected for 2021 even though the number of housing units is expected to increase. The total number of housing units in Syracuse in 2016 was estimated at 442,649 units. In 2021, housing units are expected to increase to 450,959 units (a 1.9% increase).
Educational Attainment
Safe to say education is on the rise in Syracuse, NY. In 2000, 14% of the Syracuse market area had a Bachelor’s degree and 10.7% had a Graduate degree. In 2016, these numbers grew to 15.9% in Syracuse having a Bachelor’s degree and 13.3% having a Graduate degree. Both of these figures are expected to increase in Syracuse in 2021, with 16.1% having Bachelor’s degree and 13.5% having a Graduate degree.
MOSAIC Group
MOSAIC groups represent population segments with specific traits. The top two MOSAIC groups in the Syracuse market area are Autumn Years (30.4% of the Syracuse, NY population) and Blue Sky Boomers (19.2% of the Syracuse, NY population). You may have just realized the names are somewhat foreshadowing of the populations traits.
Those in the Autumn Years group are typically described as mature, retired couples that have spent most of their lives in the same house. The majority are older than 65, married, and feel strong ties to their community. They are less likely to use digital media and internet at home or work. When they do use the internet, it’s typically for information regarding weather, lottery drawings, banking, and gaming.
Blue Sky Boomers are empty-nesters (couples or singles) who settled down in small towns and are gearing up for retirement. Most in this segment are between the ages of 50 and 65, are high school educated, and are among the working class. These individuals use the internet as their personal source for information and often search for subject matters of interest.
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