Welcome to the latest evolution of PropStream's platform…
The introduction of Demographics, a powerful localized insights dataset—achieved through our partnership with Local Logic!
This new upgrade will offer targeted and localized data for the following demographics up to a 1-mile radius of the subject property:
- Housing Type (Percentage of Renters vs Owners)
- Income
- Average Income
- Employment Level Information
- Income Brackets
- Total Population
- Household Composition
- Highest Education Level
- Commute
Although free demographic data exists, it’s frequently outdated and may not directly pertain to a specific property.
However, by leveraging PropStream's robust demographics data, real estate professionals can now equip themselves with invaluable neighborhood insights, transforming them into local experts and revitalizing their lead generation efforts.
Let’s explore demographic data further by defining it, highlighting its importance, and revealing what you can expect from PropStream’s Demographics.
Related: How to Create Personas in Your Real Estate Business (+ A Downloadable Guide)
Table of Contents
See These Demographics Insights in Action: PropStream It!
What Is Demographic Data?
Demographic data encompasses statistical information about populations and their attributes. It serves as the foundation for demographic analysis, which examines population-based factors such as homeowner type, household composition, population by age, etc.
Additionally, demographic analysis often integrates socioeconomic data, including metrics like employment, education, and income.
How Do Real Estate Pros Use Demographic Data?
Real estate professionals often rely on demographic data as a strategic marketing and business tool to assist decision-making and identify optimal approaches for engaging with leads and understanding their behaviors.
By segmenting populations based on demographics, real estate pros can gauge the potential market size and determine if their products or services effectively target key consumer groups. Demographics aid in discerning whether real estate pros are reaching the most impactful consumers, empowering them to make well-informed decisions.
Additionally, utilizing demographic data allows real estate pros to:
- Determine location value drivers (e.g., local amenities, schools, neighborhood, etc.) quickly and accurately, aiding in property comparisons, valuations, and determining investment potential
- Mitigate location risk and anticipate future value
- Match customers with their ideal lifestyle
- Identify areas that you can market to and show customers the potential value your product or service can bring.
- Predict future markets based on demographic factors and their impact on real estate trends.
- Become a local expert with valuable neighborhood insights and generate more leads in viable markets.
PropStream’s Demographic Datasets
Available under the “Property Detail” card, Demographics offer insight into various segments of the local population, including:
Percentage of Owners vs Renters
This information breaks down the percentage of owners and renters in the area into a donut chart.
Why Is This Data Beneficial?
This information can be used to grasp the ratio of homeowners to renters in the vicinity.
For those whose business model caters to either homeowners or renters, this data can serve as a valuable indicator of the neighborhood's investment potential and identify prime areas for targeted marketing efforts.
Type of Housing (%)
This information will break down the percentage of housing types in the local area as a bar chart.
The types of housing include but are not limited to single-detached, semi-detached, Plex, Apartment (small), and Apartment (large).
Why Is This Data Beneficial?
This data informs users about the variety of building types present in local areas.
It may indicate emerging trends in construction types or present opportunities for alternative development ventures.
Pro Tip: Use this data alongside PropStream’s local zoning and subdivision data to uncover trends and hidden opportunities regarding the region's most beneficial housing types!
Average Income & Employment Level
Under the “Average Income” section, users can uncover (average) insight into three local trends:
- Household income
- Individual income
- Employment level (displayed in the donut chart)
Why Is This Data Beneficial?
This information is helpful for real estate professionals to create their personas with the most detail possible, gain insight into the local job market, and determine fair rates for their target renters and/or buyers.
Income Brackets (%)
This information will break down the local population's income into brackets.
Why Is This Data Beneficial?
Real estate pros often develop targeted personas of their clientele to determine leads and find creative ways to market to them.
Income is a vital dataset when developing personas, as income directly influences spending power. This insight allows real estate professionals to determine affordable rental rates and property values for potential residents. Accurately pricing properties is crucial in ensuring consistent demand and lower vacancy rates.
Household Composition
The “Household Composition” donut chart offers insight into the average number of people living at a single property within a specific region.
Why Is This Information Beneficial?
Understanding household composition can help real estate professionals target their marketing efforts depending on the most common type of household and determine the most worthwhile opportunities.
Example: You’re a real estate agent farming your local market, and you discover that 40% of households in your region are comprised of 4 people. This leads you to assume that the region primarily attracts families who may have children. You can use this insight to guide your marketing efforts when advertising a regional listing, highlighting a great school district, local kid-friendly amenities, etc. You can also use this information to help clients find a house that meets their needs and preferences regarding the community they want to be part of.
Total Population by Age
This bar chart provides an easy-to-understand breakdown of the local area’s age ranges in increments, with a total population number above it.
Why Is This Data Beneficial?
Insight into the most common age groups allows real estate pros to target their marketing efforts or property amenities for the most popular ages.
For example, if an investor wants to purchase a rental property or flip a home in a region where residents are primarily 60-79 years old, they may want to prioritize finding ranch-style homes. Additionally, they may wish to include extra amenities for wheelchair accessibility, safety measures (non-slip flooring, well-lit pathways), bathroom modifications, etc., to make their properties appeal to the region’s primary demographic.
Pro Tip: Users can also compare PropStream data to local US Census data to determine notable population growth trends.
Highest Education Level Achieved
For this dataset, users can gain insight into the highest level of education achieved by residents, with exact percentages on display, as well as a comprehensive donut chart.
Why Is This Data Beneficial?
Understanding the local education levels for a region can help you develop your personas while gaining valuable perspective into what residents moving to the region may be interested in, allowing more targeted marketing efforts.
For example, in an area with high levels of education, local amenities that prioritize culture and diversity (e.g., restaurants representing various cultures, museums, festivals, etc.) may be significant selling points.
Commute
Commute data offers insight into the primary ways residents travel (e.g., by car, public transit, foot, bike, etc.).
Why Is This Data Beneficial?
Having a pulse on how residents typically travel can aid your marketing efforts. Here are some use cases:
- Drivers: Highlight a property’s proximity to major highways, making travel by car convenient and quick.
- Walkers & Bikers: Emphasize the region's walkability or infrastructure that supports biking (e.g., crosswalks, bike lanes, major amenities in one central location, eliminating the need for a car).
- Public Transportation: Include the distance from bus stops and subways to spotlight convenient access to public transit.
See These Demographics Insights in Action: PropStream It!
PropStream remains committed to empowering users with unparalleled access to dynamic, current, and detailed information that drives professional decisions and enhances the lead generation process.
With the addition of Demographics, users gain an invaluable edge via an industry-leading tool that adds depth and precision to research endeavors. By harnessing the power of this robust demographic data, users can confidently identify the most promising leads, enabling them to make more informed decisions and scale their businesses to new heights.
Want to see Demographics for yourself? Try PropStream for 7 days free and enjoy 50 complimentary leads!
Frequently Asked Questions (FAQs)
Is demographic information available on the desktop and mobile app?
At this moment, demographic data is only available on the desktop version of PropStream.
Can users download this data?
At this time, it is not possible. This is slated for a future enhancement.
How localized is the data?
It is based on the property’s geo coordinates (up to) a one-mile radius using latitude and longitude.
Will the information be the same with the two properties next to each other?
Potentially. Because there technically is a difference in the geocoordinates, there may be slight variations in the Demographics info, even between neighbors.
How is this data sourced?
This data is based on the American Community Survey, a subset of the US Census. They collect data year-round. This information is an ongoing collection process and is continually updated throughout the year.
What is a “Persona?”
Personas are detailed, semi-fictional representations of your target customer, informed by qualitative and quantitative data about existing customers and market research.
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