Demographic site analysis
The specific market area we choose for our demographic site analysis is Oklahoma. This paper will give the demographic profile of the population of Oklahoma.
Population
The population of Oklahoma grew from 3,751,351 to 3,956,971 between 2010 and 2019, representing a growth rate of 5.5%. An annual 1.3% rate was the national population growth rate in that decade. Future population projections show that in 2035, the population of Oklahoma will stand at 4,307,600. Since 2000, this represents a 24.8% increment (U.S. Census Bureau, 2020).
Race and ethnicity
Asian or Pacific Islander, Native American, African American, and white are the major classifications of races. Hispanic and not Hispanic are the ethnicities people are categorized by in addition to race. The whites make up the predominant race in Oklahoma at 74%, while the Pacific Islanders are in the minority at 0.2% (U.S. Census Bureau, 2020).
Age Distribution
Current population surveys suggest that 24.1% of the population is aged less than 18 years, and 16.1% are aged 65 or older (U.S. Census Bureau, 2020).
Education
Between 2014 and 2019, 87.8% of Oklahoma’s population had graduated from high school, and those who held bachelor’s degrees or higher were 25.2% of Oklahoma’s population (U.S. Census Bureau, 2020).
Status of income and poverty
Between 2014 and 2019, the median household income was $51,424. During the same period, the persons living in poverty stood at 15.2% of Oklahoma’s population (U.S. Census Bureau, 2020).
References
“U.S. Census Bureau QuickFacts: Oklahoma.” Census Bureau QuickFacts, www.census.gov/quickfacts/fact/table/OK/PST045219.