Hello ladies and gentlemen of BP,
I come to you with another question swirling in my mind about real estate investing.
What tools and websites do you all use to get demographics and psychographics in an area or zipcode?
In case you don't know what these are and just want to read along to the responses, I will define each term.
Demographics: This information gives you age, gender, and income level of a group of people. It is useful for telling you what type of people will be renting or buying from you and your finished product.
Psychographics: This will tell you WHY people will rent from you. Geared more toward lifestyles of the demographic and will help an investor avoid the risk of vacancy.
The one I use for demographics is called "city-data.com". However, I'm sure there are much better websites and census data available on the topics.
Can't help you with psycho graphics, never heard of that until now! :)
But as one tool, I have used city-data.com for income maps. It also shows potentially other useful info for people in a given area. But, as I'm sure you know, it's just one tool. I wouldn' t lean heavily on it.
In my experience, it can be very hit or miss. Which is why I would like to see if people have other forms of researching the traits of an area!
The more research and tools we have the more accurate we can all be :)
As you mentioned City-Data is the best I've found, but there is no substitute for being on the ground and getting a general feel for an area. I too have never heard of psychographics before either.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you