16
urban core of the trade area Demographics at a glance Below is a sampling of the demographics of 3 different geographies: The Greater Mankato Trade Area, MankatoNorth Mankato Metropolitan Statistical Area (MSA), and the City Center. The City Center is located at the center of the trade area and the metropolitan area.
Square mile 2016 Population 2021 Population 2016 Median Age 2016 Total Households 2021 Total Households 2016 Average Household Size 2016 Average Household Income 2021 Average Household Income 2016-2021 Annual Rate 2016 Total Housing Units 2016 Owner Occupied Housing Units 2016 Renter Occupied Housing Units 2016 Vacant Housing Units
Trade Area 6,816 281,412 286,018 38.7 112,520 114,757 2.4 $69,344 $75,612 1.75% 123,677 83,630 28,890 11,157
MSA 1,233 101,456 105,298 32.6 38,840 40,482 2.43 $71,025 $77,190 1.68% 41,625 26,182 12,658 2,785
City Center 1.69 6,997 7,237 28.4 3,259 3,375 2.03 $47,590 $49,422 0.76% 3,561 1,114 2,145 302
The Trade Area represents the retail pull for the entire community. A significant portion of this pull comes from regional destinations like the River Hills Mall or the Verizon Center. The retail businesses in the City Center indirectly benefit from the pull of these regional destinations. The MSA is comprised of Blue Earth and Nicollet Counties. An MSA is often looked at as a standard geography when evaluating demographics of a population. Highlights: • All three geographies show a growing population • City Center is a younger area as compared to the larger areas • City Center households are smaller as compared to the larger areas • City Center is a younger area, compared to the larger areas
A view of Riverfront and North Mankato. Photo by Aerial Imagery Media