downtown demographics

Residential Demographics
The 2009 population estimate for the CBID was approximately 23,000. New housing development has produced a 12% increase in the CBID population since 2000. The CBID population is expected to increase to 25,000 by 2014.

The Downtown Core was the fastest growing area of the CBID from 2000 – 2009 with an estimated 19% population increase. The South CBID and the North CBID also experienced significant growth from 2000 – 2009 with an estimated 16% increase in population.

Households with incomes greater than $75,000 per year are the fastest growing income demographic in the CBID. The fastest growing age demographic in the CBID is the 55-64 cohort, which increased 66% between 2000 and 2009. It is estimated that 80% of the Downtown population over age 15 is single, which is defined as never married (44%), divorced (14%), married but spouse absent (12%), or widowed (10%).

The CBID is estimated to be 58% Black, 33% White, 5% Asian or Pacific Islander, and 4% Other. 6% of the population is estimated to be Hispanic.

As of the end of 2009, Downtown has approximately 13,400 housing units, of which 57% are apartments, 18% are single-family homes, 16% are condos, and 10% are public housing units.

The average CBID apartment occupancy rate is 90%.

Office & Employment Demographics
The CBID has 65,000 employees. CBID employment is expected to increase by 7% over the next five years.

3,165 businesses are located within the CBID - 12% of all Memphis MSA businesses.

Downtown's 8.4 million square feet of office space accounts for 23% of the Memphis total.

Class B space dominates the Downtown market, accounting for 3.1 million square feet. There are 2.3 million square feet of Class A space.

The Downtown Core represents 56% of the businesses in the CBID and employs 42% of the individuals in the CBID. The Medical Center contains the largest percentage and number of employees - 29,533 (44%). The number of Medical Center employees is expected to increase to 32,399 by 2012.


Retail Demographics
There are approximately 1 million square feet of existing retail and food & beverage businesses within the CBID.

Total residential expenditures from Downtown's primary, secondary, and tertiary markets are expected to reach $5.5 trillion by 2012.