The owner occupied housing analysis for homes in the target market of Allegheny County and the State of Pennsylvania shows some very interesting results. Of all the owner occupied housing units in Allegheny County, 75% have a market value of less than $200,000. On the other hand this number for the entire state of Pennsylvania stands at 61.2% indicating that Allegheny County has a more economically depressed housing market as compared to the State. This of course makes sense when we impose the population analysis that we looked at earlier. The target market of Allegheny County has been losing people as compared to the State of Pennsylvania. When people leave, the demand for housing goes down and this is what is being reflected in this analysis.
This fact is also confirmed when we look owner occupied homes whose values are between $200k to 500k - here we find that 21.3% of all homes in the target market of Allegheny County fall in this bucket as compared to 33.5% for the entire State of Pennsylvania. This target market tends to be where most landscaping contractors like to focus and there is no doubt that both Frank and Peter will also be looking to establish themselves in this market segment.
However in order to be able to keep a steady stream of revenues both Frank and Peter will have to look into other properties like multi-family homes, small commercial as well as some large office complexes where they may need to team up with another firm to ensure that the job can be done right.
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