Age and Family Structure
This report looks at the Age distribution of the Colorado Springs-Pueblo, CO 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: Aging Rapidly
The Colorado Springs-Pueblo, CO market has a dependency ratio of 59.4 which is considered a Medium level of dependency. The proportion of that dependent population that is under 15 is 45% and subsequently this market could be age wise considered Elderly. These two classifications in mind the Colorado Springs-Pueblo, CO market falls in the Aging Rapidly Age Structure Classification.
With a Medium level of dependency and that dependency skewing older, markets with this structure facing the challenges of a retiring population. Markets with the Aging Rapidly structure are likely seeing a declining population or are become destination retirement communities. This high level of dependent older population may have economic ramifications that could cause more young people to leave the area, further increasing the older dependency. Out migration of retiring population or in migration of younger population would benefit this market. It is likely too late for a higher birth rate to have much of an impact. If this market finds a way to keep its proportion of young people, perhaps by becoming or continuing to be a destination for retirees and with the economic system to facilitate this type of continual older in migration it may continue in this structure for a while. Otherwise if it is able to grow is proportion of young people through economic incentives for in migration it may be able to transition to a Stable structure. The more likely situation is that it shift to Aged structure and continues to decline in population and eventually in economic output.
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
