Age and Family Structure
This report looks at the Age distribution of the Bakersfield, CA and quantifies the structure in to 9 possible categories. These are based on 2 scales, Dependency and Age Proportion Ratio of the Dependency. Dependency here is the ratio of dependent population, include older dependents over 65 and younger dependents under 15 compared to the 15 to 65 working age population. This measure is often used a way of quantify the amount of strain that the working age population might have in supporting those not working and is sometimes further refined to focus on only those currently working. In this case however we focus only on the age structure. The percentage that the young make up of the dependent population yields the Dependent Age Proportion, with a higher value indicating a younger population.
Market Age Structure Classification: Prospering
The Bakersfield, CA market has a dependency ratio of 53.2 which is considered a Low level of dependency. The proportion of that dependent population that is under 15 is 59% and subsequently this market could be age wise considered Young. These two classifications in mind the Bakersfield, CA market falls in the Prospering Age Structure Classification.
With a Low level of dependency and that dependency skewing younger, markets with this structure are set to prosper. Both in population and economic realms the future of this market is promising and full of opportunity. With this potential growth the housing, infrastructure, and employment needs of this population will be paramount. To keep the market in this structure the market will need to retain its younger population. If that young population becomes too squeezed for potentially limited housing and employment options they may seek opportunity elsewhere. That could lead this market to a Stable structure or a Temporary Prosperity structure that can last only so long. If planned for appropriately this market may be able to continue in a Prospering structure or even shift to a Growing structure.
STI Markets Comparison - Age Chart
The lines on the following chart are the break points used for structure classifications. For dependency on the X axis they are 56 and 61. For the age proportion of younger dependents (out of young <15 and old dependents >65) on the Y axis they are at 55% and 45%.
Figure 17: Age Structure Classification for STI Markets
