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Saratoga Springs, UT

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Saratoga Springs, UT RETAIL PROFILE SARATOGA SPRINGS / UTAH 2018 PREPARED FOR THE CITY OF SARATOGA SPRINGS SARATOGA SPRINGS Retail Profile / 2018 Saratoga Springs is a growing, vibrant community that retailers will want to announce as their new home in the coming years. Located at the crossroads of northwest Utah County on the shores of Utah Lake, Saratoga Springs boasts beautiful lakeshore living, great air quality, superb views, and a central location. Saratoga Springs has seen a 57 percent Mayor growth in population since 2010 as one of the fastest growing cities in Utah. Jim Miller 30,000 people call Saratoga Springs home and as a region, the northern Utah County is home to more than 200,000 residents. Based on this continued growth, Saratoga Springs’ population will increase another 33% in the next 5 years and 66% over the next 10 years. 1 Community Stats Utah Saratoga 10 Min Drive Time 30 Min Drive Time Overview Total Population 2,948,427 30,670 58,763 660,320 The City of Saratoga Springs Annual Growth Rate 1.55% 6.91% %4.01 2.22% is experiencing high levels of population and income growth. Total Households 1,024,047 5,721 14,766 190,134 We have a young, active population Median Household Income $62,518 $80,857 $69,343 $69,479 looking for family-oriented activities and experiences. Median Household Age 30.3 years 20.4 years 21.9 years 26.9 years Employee Population 1,447,260 5,836 7,225 225,869 2 Population Consumer Characteristics > 84 75 - 84 65 - 74 Education City State Housing 55 - 64 45 - 54 No High School Diploma 2.8% 8.3% 35 - 44 25 - 34 High School Graduate 12.9% 22.4% 4,636 Owner 15 - 24 Some College 29.3% 26.9% Occupied 5 - 14 <5 Associate’s Degree 10.0% 10.5% 6000 4500 3000 1500 0 1500 3000 4500 6000 Bachelor's Degree 33.5% 21.7% 1,030 Renter Post-graduate Degree 11.5% 10.2% Occupied Male Female RETAIL PROFILE CITY OF SARATOGA SPRINGS ON THE COVER: Saratoga Springs and Utah Lake Photo credit: Jan Munger Income Demographics 49.1% < $10,000 Female $10,000 - $14,999 $15,000 - $24,999 $25,000 - $34,999 50.8% $35,000 - $49,999 Male $50,000 - $74,999 $75,000 - $99,999 $100,000 - $124,999 20.4 Years - $125,000 - $149,999 Median Age $150,000 - more 0% 5% 10% 15% 20% 25% $80,857 Household Income 3 Consumer Profile Key Features Profile Average Sprawling Families Age Years Persons in Property Type Age of Home Household Household Children Ownership Income Digitally Savvy 31 $75K Family Vacations - to - SINGLE OWNS - to - 5+ FAMILY 0-8 HOME Child-related purchases 35 $99K 4 Spending Leakage Young families are driving our General Merchandise Stores Foodservice & Drinking Places retail growth: Consumers in Saratoga Springs are primarily $50 $50 MM MM young families, looking for family-oriented retailers. With high incomes and rapid population growth, our city is great location for retailers of all sizes. $25 $25 MM MM The Camp Williams, Army National Guard military base is located on the north border of Saratoga Springs next to our growing commercial hub. With more than 2 million Student Soldiers $0 $0 that visit the base each year, Saratoga Springs is Potential Estimated Potential Estimated regularly filled with shoppers and diners from Sales Sales Sales Sales $47,978,698 $20,191,145 $31,434,177 $15,682,597 around the country 2018 EDCUTAH 91 LOGAN CACHE COUNTY BOX ELDER COUNTY 89 RICH COUNTY WEBER COUNTY DAVIS COUNTY 84 Saratoga Springs Details & Map GREAT MORGAN SALT COUNTY TOOELE LAKE COUNTY TopSUMMIT Retailers COUNTY 1 Walmart Supercenter 2 Smith’s Food & Drug 3 Walgreens SALT LAKE CITY 4 Verizon Wireless SALT LAKE 5 O’Reilly Auto part COUNTY 6 Dollar Tree 7 Tractor Supply Co 8 Maurices 9 Sally Beauty 10 AutoZone CAMP WASATCH WILLIAMS COUNTYPublic Transit 4 SARATOGA SPRINGS 5 7 2 FrontRunner Train 6 1 9 Long Distance Commuter TOOELE 3 10 COUNTY 8 UTAH PROVO COUNTY UTAH LAKE SALT LAKE CITY SARATOGA SPRINGS DAVID JOHNSON Economic Development Director 801-766-9793 | [email protected] JUAB COUNTY edcutah.org SANPETE COUNTY CARBON MILLARD.
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