5 Fun Tidbits from the Odenton Retail Study

Did you know that Odenton residents spend more on their cars than they do on groceries?

County officials recently commissioned a study of Odenton's retail market. (Credit: Tim Lemke)
County officials recently commissioned a study of Odenton's retail market. (Credit: Tim Lemke)
On Monday, local economic development officials released a study showing great demand for retail in the Odenton area.

(Study: Odenton Can Support Two New Supermarkets, Other Retail)

The report from Valbridge Property Advisors was chock full of interesting pieces of data about Odenton and its residents. Here are five bits of information that we found intriguing. 

Odenton is Growing - 
Odenton's 2012 population was 71,371, or 28.4 percent larger than in 2000. Roughly 268 households will be added each year through 2017. 

People Pay a Lot to Rent Here - It's no secret that the new apartments in Odenton have high rent rates. Data collected in the retail study said rents are averaging $1,557 for one-bedroom units, $1,818 for two-bedroom units and 
$2,102 for three-bedroom units. The report said 29 percent of these residents are coming from out of state, and between 10 and 15 percent earn more than $100,000 annually.

We Love Our Cars - 81 percent of Odenton residents commute to work by themselves in a vehicle. More than 96 percent of households have at least one car. Odenton residents spent $148 million on automotive services in 2012—about $2 million more than what they spent on groceries. 

Odenton Has Retail Spaces, But They are Small and Old - 59 percent of the retail space in Odenton was built before 1990 and 77 percent was built before 2000. The median parcel size is less than one acre. 

"Upgrading older retail properties and assembling some of the smaller land parcels in order to accommodate contemporary retail formats can assist in improving the quality of the OTC retail supply," the study said. 

We Earn a Lot and Spend A Lot - The median annual household income in Odenton is $81,259, or about 15 percent higher than the state average (which is the highest in the nation at $70,000.) But the retail study also said that household spending is about 35 percent higher than the national average. 

Bryant December 09, 2013 at 05:43 PM
Is the study itself public? I'd be interested in reading it.
Tim Lemke (Editor) December 09, 2013 at 09:11 PM
Yes, here's a link to it. Sorry for not including it earlier. https://docs.google.com/file/d/0B43_1wWlKi6jSkR6VmxRU3B3UHc/edit


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