Market Research Springfield, MA | Key Statistics and Data

January 10, 2018

Interested in business intelligence for your organization? Drive Research is a market research company serving Springfield, MA ready to partner on quantitative and qualitative studies. Our services include Customer Experience (CX), Voice of Employee, focus groups and focus group recruiting, phone interviews, and intercept and online surveys.

 

We work with clients across Upstate New York, New England, and in Massachusetts.

 

In this post we will describe the demographics of Springfield, Chicopee, Westfield, Holyoke, and the surrounding areas in the Springfield/Holyoke DMA. These demographics play an important factor in secondary market research. 


This data is utilized to estimate demand in feasibility studies. Feasibility studies are a type of market research which identify opportunities and barriers to success for a new product, service, location, or business practice. 


Want an example of online survey research in Springfield, MA? Read about a casino brand perception and usage study.


We have sourced these statistics from an in-house data collection system which we use to answer clients’ questions. These demographics can be further customized. Secondary research pairs well with primary research, where we analyze your market with carefully designed surveys, mystery shopping, and interviews.

 

 

 Geographic area of Springfield/Holyoke Designated Market Area (DMA).

 

Population

The population of the Springfield, MA area is steadily growing, according to the 2010 U.S. Census data. In 2000, the population was 680,011 and increased 2% to 692,947 in 2010. Estimates for 2017 place the population at 701,808 and give projections for 706,354 people in 2022.


In 2017, the Springfield population was 78.5% White and 7% Black, with smaller segments of Asian/Native Hawaiian/Pacific Islander, American Indian/Alaskan Native, and other races. Notably, 18.3% of the population was Hispanic in 2017, up from 15.4% in 2010 and 11.1% in 2000. 80.9% of the Hispanic population is Puerto Rican.

 

 

Gender

The gender split was roughly equal in 2017 with 48% Male and 52% Female. More equalizing is predicted in 2022 to 48.1% Male and 51.9% Female.

 

 

Age

Median age has been increasing. In 2000, the median age was 36.5. Then in 2010, the median age increased to 38.8 and 38.9 most recently in 2017. In 2022, the median age is projected to increase still to 39.5.


In 2017, 50.5% of the population around Springfield was between the ages of 25 and 65, 33.7% of the population was between the age of 0 and 24, and 15.8% of the population was over 65. The most prominent age group was ages 55 to 64 and the least represented age groups are those over 84 and under 4 years old.


The ages which saw the greatest change between 2000 and 2010 were those aged 55 to 64, which increased 57.7% and residents aged 35 to 44 which fell by 21.6%. In the future, age groups 65 to 74 and 75 to 84 will increase 18.1% and 19.1%, respectively, in 2022 to make up 15.7% of the population.

 

 

 Massachusetts market research age data.

 

 

Income

The average household income has been growing. In 2000, average household income was $51,346 and in 2010 it was $65,627. Lately, average household income was estimated to be $73,151 in 2017 and is forecasted to be $83,902 in 2022.
 
The proportion of high earners has increased, which affects the average. The segment making $100,000 to $150,000 increased 87.3% from 2000 to 2010 and is forecasted to increase 27.5% in 2022 to be one sixth of all income-earners.

 

The segment making over $150,000 grew 102% from 2000 to 2010 and is forecasted to increase 29.6% in 2022 to be one-tenth of income-earners. In 2017, the median income was $53,488 and is projected to grow in 2022 to $63,232.


The predominant income group in 2017 was the segment making $50,000 to $75,000 (18.2%), followed by those making less than $15,000 (14.4%) and those making $100,000 to $150,000 (13.5%). The ratio of blue and white color jobs is projected to stay the same. Two fifths of the labor force work blue collar jobs and three fifths work white collar jobs.

 

 

Housing Units

The number of housing units hasn’t changed drastically. In 2010, there were 288,537, which decreased 0.6% to 286,814 in 2017. The occupancy rate in 2017 of 94.8% is projected to stay the same in 2022, with an increase of 2% in housing units to 292,669.

 

 

Educational Attainment

Over time, higher education is being better represented in Springfield. The proportion of people with just a high school diploma has decreased from 29.7% in 2010 to 29.2% in 2017. In the same time period, the proportion of people with associates, bachelor’s, and graduate degrees have increased 7.7%, 4.4%, and 9.8%. In 2022, the segment with high school diplomas is projected to hit 29% and the combined segment having bachelor’s and graduate degrees is projected to be 30.6%.

 

 

 Educational attainment data for Springfield, MA.

 

 

MOSAIC Group

MOSAIC groups are particular segments of the population, identified by traits like home life, spending, and hobbies. The dominant MOSAIC group around Springfield is the Autumn Years group. The second most prominent MOSAIC group, with about half the number of households, is the Thriving Boomers group.


Autumn Years is an older segment of lower middle-class retired couples. The majority have grown children and most already have grandchildren. This group is characterized by independence from the Internet and digital devices. For those who do surf the web, many use dial-up connections and perform online banking, play games, check the weather, and research products. You’ll find them living in the same house they’ve lived in for much of their lives and committed to community clubs, unions, and churches/temples.


The Thriving Boomers group includes couples in their 50s and 60s who are beginning to contemplate retirement. Most are empty nesters who have had the same house or have recently moved from suburban areas to smaller houses and condos. This group actively uses the Internet for shopping, telecommuting, trading stocks, following news, and looking up medical information, but will access the Internet from a computer more often than from a cell phone.

 

 

Contact Drive Research

Drive Research is a market research company serving Springfield, MA and New England businesses and organizations. Our market research company is located in Upstate New York but works in adjacent markets in Pennsylvania, Massachusetts, Vermont, and other states across the country.


Have a question? We are always ready to help you find the answers from the right people.
 
Contact us at 315-303-2040 or email us at info@driveresearch.com.