 |
This growth in households will result in an increase of nearly 750 people. Population projections indicate that the rate of population and household growth in Clarendon Hills will outpace growth rates in surrounding municipalities. Between 2005 and 2010, the average growth rate in other DuPage County area communities is expected to be less than 2%.In contrast, the projected growth rate in Clarendon Hills during the same time period will be greater than 7%. The net increase in households and in population will likely occur as a result of new multi-family housing development and annexation opportunities.
|
Consumer Expenditures and Sales Potential
While shoppers throughout the Chicagoland area come to Clarendon Hills, the Clarendon Hills’ retail market area is generally defined as the Village of Clarendon Hills, the Village of Hinsdale, and the Village of Westmont. The purchasing power in this area is in excess of $1 billion annually. High expenditure retail categories include auto sales and other transportation related purchases, apparel and footwear, and dining.
Disposable income for goods and services parallel the high income levels within the Village. On an annual basis, Clarendon Hills’ households spend approximately 42% of their incomes in various retail stores that include, but are not limited to, apparel/shoes, household/personal goods, dining, and entertainment. On a per capita basis, the average Clarendon Hills resident spends nearly $3,000 on dining outside of the home, $2,600 on apparel, and $3,300 on entertainment (including travel) on an annual basis.
|