Introduction
Located in the bustling Houston-Sugar Land-Baytown metropolitan area, Brazos Lakes Center is an eagerly anticipated retail destination set to open soon. Situated at the properties at 6810, 6820, and 6830 Highway 6 in Missouri City, Texas, which is approx. 20 miles of SW Houston.
The center boasts prominent Interstate Highway 6 frontage and is surrounded by a variety of upscale master-planned communities, including Riverstone, Sienna, and Lakes Olympia. As the area’s population continues to grow in diversity and affluence, Brazos Lakes Center presents a prime opportunity for international grocers and other retailers to establish a foothold in this dynamic market.
Executive Summary
Missouri City, Texas 77459 is a growing area with a population of 8,801 within a 1-mile radius, 89,759 within a 3-mile radius, and 200,038 within a 5-mile radius. The median household income is $132,577 within 1 mile, $114,098 within 3 miles, and $105,974 within 5 miles. The unemployment rate is 4.4%, 4.8%, and 4.6%, respectively. The largest income group is $200,000+ with 27.9% within 1 mile, 21.4% within 3 miles, and 19.1% within 5 miles. The smallest income group is $15,000 – $24,999 with 1.2% within 1 mile, 2.3% within 3 miles, and 2.9% within 5 miles. Retail Brand should open their business in this area due to the growing population and high median household income, indicating a potential customer base with disposable income. The low unemployment rate also suggests a stable economic environment for businesses. Additionally, the large percentage of households within the $200,000+ income group presents a significant opportunity for Retail Brand to capture high-end customers.
2017-2020 Race Analysis
Within a 1-mile radius, the majority of the population is Asian alone (42.6%), followed by White alone (38.2%). Black or African American alone make up 10.4% of the population, and Two or more races account for 6.5%.
Within a 3-mile radius, the largest racial group is White alone (34.0%), followed by Asian alone (32.4%) and Black or African American alone (24.0%). Two or more races account for 6.4% of the population.
Within a 5-mile radius, the largest racial group is White alone (34.7%), followed by Black or African American alone (29.4%) and Asian alone (26.2%). Two or more races account for 6.2% of the population.
Overall, Missouri City, Texas, 77459 is a diverse community, with a significant Asian population within a 1-mile radius, and a more balanced racial makeup within larger radii. The proportion of the White alone population increases as we move further away from the central location, while the proportion of the Asian alone population decreases. Black or African American alone make up a significant portion of the population in all three radii.
2017-2020 Population by Age
the population of the area tends to be older as the ring radius increases. For example, in the 1 mile radius, the highest percentage of population is in the age group of 60 to 64 years (9.9%), whereas in the 5 mile radius, the highest percentage is in the age group of 55 to 59 years (7.0%). Additionally, the percentage of the population in the older age groups (65 to 69 years, 70 to 74 years, 75 to 79 years, 80 to 85 years, and 85 years and over) tends to increase as the ring radius increases. This could be an indication that the area within the 5 mile radius is a retirement community or has a higher proportion of older adults.
Employment
The percentage of white-collar employment decreases as the distance from the center of the ring increases.
The 1-mile ring of Brazos Lakes Center has the highest percentage of white-collar jobs at 82.4%, whereas the 5-mile radius has the lowest at 76.3%. Conversely, the percentage of blue-collar employment increases as the distance from the center of the ring increases, with the 1-mile radius having the lowest percentage at 11.2% and the 5-mile ring having the highest percentage at 13.1%.
The unemployment rate remains relatively consistent across the three rings, ranging from 4.4% in the 1-mile ring to 4.8% in the 3-mile radius.
TOTAL HOUSEHOLDS BY INCOME
The area has a relatively affluent population. The median household income in the area ranges from $132,577 in the 1-mile radius to $105,974 in the 5-mile radius. This is well above the national median household income, which was $68,703 in 2019, according to the U.S. Census Bureau.
The median household income is highest in the 1-mile radius at $132,577 and decreases with distance to $105,974 in the 5-mile radius. However, households with incomes of $200,000 or more clustered within 1 mile of the Brazos Lakes Center, decreasing with distance, from 27.9% within 1 mile to 19.1% within 5 miles of the center.
Population over 25 years old by level of education
Across all three distance ranges (1 mile, 3 miles, and 5 miles), the percentage of residents with at least a Bachelor’s, Graduate, or Professional degree is consistently high, ranging from 57% to 63%. Additionally, the percentage of residents without a High School diploma is low, ranging from 5% to 7%.
These trends suggest that the population in the area values education and likely has access to educational opportunities. The high median household income and large percentage of households in the $100,000+ income range also support the idea that residents in the area have the resources to pursue higher education.
Contact
The Brazos Lakes Center is managed by UMRE Real Estate Group, a reputable company with 20+ years of experience in the industry. They offer a wide range of services for commercial and residential properties, including sales, management, and investment solutions. Contact UMRE by filling out the form or calling 713.630.8000.
