In order to analyze the market value of owned homes by Income Quintile we have broken the national population into the following categories:
Here again some fairly expected observations could be seen during our analysis - clearly the income that an individual or household makes largely determines the market value of the home that they will be able to afford. Thus income quintile and housing values have a very high correlation indeed. This fact is clearly borne out by the data which shows that in both 2004 and 2013 the folks with in the higher income quintiles on average lived in homes with higher market values as compared to folks in lower income quintiles. What was surprising was to see the rate of change in the market values of homes in the lower and higher income quintiles - thus in the lowest income quintile we find that over the 10 year period there was a 20% increase in the average market value of a home for folks in the lowest quintile compared to a 17% increase in the market value of homes belonging to folks in the highest income quintiles.
However when one starts looking at pure valuations, the numbers tell a very different story - in 2013 the average home value for someone in the lowest 20% income quintile is $58,467 compared with $347,681 for folks in the highest income quintile. Thus at the very high end of income the value of homes owned are almost six times the value of homes owned by folks in the lowest end of the income spectrum.
For Lights On Electrical, it would of course be more beneficial to have folks in the higher income quintiles living in the target market and this is case for the Cleveland area which is included in the Cuyahoga County target market.
The Foundation Grant Directory is a free listing of sources for grants by state. Why not look if there is some free money out there for your business. Hey - you never know!
The Business Loan Application covers every item you will need in your loan package and tells you how to get approved for business loans.
Fire your loan broker and use our Free Business Loans Bank / Lender Directory to find every bank in the country lending to small businesses.