Offered by Jan Hepp-Struck
In this multi-part snapshot into Brighton, I’ve covered demographic make-up by age, employment sector, and ethnicity. So let’s talk a little about the economic composition of the Brighton market area. For the most part, the Brighton area encompasses a nice mix of higher and moderate income ranges, leaving a less dramatic difference between the typical households and the wealthiest.
What does that mean? Relating it to the Denver Metro area where the average income is 35% higher than its median income, the contrasting Brighton area average income is just 16% higher than the median income in the Brighton area market. Further supporting this assertion of middle class to upper-middle class clustering in our area, while the Brighton market area has a smaller percentage of households earning over $150,000 per year than the metro overall, our market area has a considerably higher median income than that of the metro area median. Likewise, on the lower income spectrum, the Brighton area market has just 11% of households earning below $25,000, while the metro area is at 17%.
According to a report by the Leland Consulting Group, “there is no strong rationale for assuming either a dramatic decline or increase in market area household incomes.” Consistent with the current trends in new development and the improving job market in and around Brighton, they cite housing prices reinforcing existing patterns in income distribution looking forward, and project a moderate decrease in low/very low income households, and a corresponding moderate increase in mid-level income brackets. (Sourced from ESRI, US Census/ACS estimates, Leland Consulting Group.)
For proven expertise in establishing your home value and/or searching for a new or existing home, please call Jan at (303) 520-4340.
Click here to view Hepp Realty on The Brighton Buzz Business Directory