Demographics & Housing
Population
According to the 2000 U.S. Census, the total residential population of downtown Augusta is 2,661. This represents a decline from the peak 1990 population of 3,184. Between 1990 and 2000, however, the number of households increased from 1,460 to 1,540, suggesting that downtown is mirroring the trend of other downtowns in attracting more singles and childless couples.
The median age for downtown residents is 43, significantly higher than the Augusta (32.4) and national (35.3%) averages. Median age is reflected in the age distribution of downtown residents. Both the 25-54 and 55+ yrs distributions account for a relatively higher share of the population.
Downtown area residents have seen a substantial increase in average household incomes over the years. Between 1990 and 2000, average household income jumped from $14,367 to $34,808, an increase of 142.2%. In that same period, average household income Augusta-wide increased by 40.8%. Although downtown household income is still approximately $10,000 below the Augusta-wide rate and $20,000 below the national average, the rapid increase in downtown income is projected to continue as more workers choose to the make downtown their place of residence. The distribution of household incomes has also changed in the past decade as the percentage of lower income households has dropped. Between 1990 and 2005, the number of households earning $35,000 or more increased from 7.1% to 21.3%.
The net worth of downtown households varies. As a median, net worth of downtown households is $51,931, lower than the $67,279 Augusta-wide figure and the $107,683 national average. Average net worth, on the other hand, is $459,614, significantly above the Augusta-wide figure of $396,235 and closer to the $518,467 national average. The distribution of net worth is almost evenly split among households below $34,999 and those above $75,000.
Households and Housing
Three of every four downtown residents live in non-family households, a rate 3% higher than in 1990. Approximately 70% of residents are in 1-person households, followed by 2-person (17%) and 3+ person (14%) households.
Rental units dominate the downtown housing market. Approximately 82.1% of all housing is rental, a rate more or less in line with the 81.3% figure reported in 1990. The percentage of rental units is far higher than the Augusta average and over 50% higher than the national average of 30.8%. The housing unit imbalance has prompted many in the development community to advocate for condominium housing to increase ownership rates.
Downtown continues to lead Augusta and the metro area in density. In 2000, 1,069 of downtown’s 1,679 units were in structures containing 20 or more units, an increase of over 21.3% since 1990. In 1990, 54.5% of downtown residents lived in structures with 20+ units. By 2000, that number had risen to 63.6%. By contrast, just over 4.2% of Augusta residents reside in 20+ housing unit structures. Developers are responding to demand by providing more multi-unit housing, particularly rental units atop commercial establishments along Broad and Greene Streets. Population density, combined with recent government and private investment downtown, continues to fuel the growth of commercial establishments.
By any measure, rental housing in downtown Augusta is affordable. In 2000, approximately 90.1% of units rented for $499 or less. At $292, downtown median rents are among the lowest in the nation.
Owner occupied units within downtown account for only 8.1% of the total housing stock but represent diverse price ranges. The value of approximately half the owner units is below $100,000 while the remaining half is above $200,000. The absence of any housing in the $100,000 to $200,000 range points to another demand for specific housing types.
Both median and average downtown home values have risen substantially in the past decade. In 2000, the listed median value of a downtown home was $135,000, an increase of approximately $85,000 over the 1990 rate of $50,000. Similarly, average home values have increased from $108,807 to $160,195 between 1990 and 2000. Median and average home values Augusta-wide were $76,841 and $93,481 in 2000.
Educational Attainment
Education attainment rates among downtown residents continue to rise. In 1990, approximately 52% of residents had not earned a high school diploma. By 2000, this percentage dropped to 40. The percentage of residents earning some college or Associate Degrees climbed from 11.5% to 18.5% while the percentage earning Bachelor’s or Graduate Degrees increased from 14.7% to 17.1%. The percentage of Bachelor’s+ educational attainment is quickly approaching the Augusta-wide rate (18.6%) and national average (24.4%).
Employment
Approximately 799 downtown residents are employed in various sectors. A majority (64.2%) are employed in the service sector, followed by retail trade (12.8%) and manufacturing (7.4%). Slightly over 50% of downtown residents are classified as white-collar workers, encompassing management/business, professional, sales and administrative. Blue-collar workers make up 13.6% of the resident workforce and are represented in construction, production, transportation/moving and installation.
Lamar Building houses many downtown offices
Farmer's Market is a popular downtown draw.
Downtown Residents Employment by Industry |
||||||
Downtown |
1-mile Radius |
3-mile Radius |
||||
| Employed Population Industry | Number of Employees |
% |
Number of Employees |
% |
Number of Employees |
% |
Agriculture/Mining |
0 |
0% |
2 |
0.1% |
55 |
0.3% |
Construction |
19 |
2.4% |
84 |
5.3% |
1,016 |
5.5% |
Manufacturing |
59 |
7.4% |
118 |
7.5% |
1,515 |
8.2% |
Wholesale Trade |
1 |
0.1% |
6 |
0.4% |
296 |
1.6% |
Retail Trade |
102 |
12.8% |
170 |
10.8% |
2,236 |
12.1% |
Transportation/Utilities |
23 |
2.9% |
80 |
5.1% |
1,016 |
5.5% |
Information |
17 |
2.1% |
21 |
1.3% |
296 |
1.6% |
Finance, Insurance & Real Estate |
17 |
2.1% |
24 |
1.5% |
776 |
4.2% |
Services |
513 |
64.2% |
1,000 |
63.4% |
10,569 |
57.2% |
Public Administration |
48 |
6% |
74 |
4.7% |
684 |
3.7% |
Total |
799 |
|
1,580 |
|
18,459 |
|
Source: U.S. Bureau of the Census, 2000 (May not add to 100% due to rounding)
Downtown Residents Employment by Occupation |
||||||
Downtown |
1-mile Radius |
3-mile Radius |
||||
| Employed by Occupation | Number of Employees |
% |
Number of Employees |
% |
Number of Employees |
% |
White Collar |
407 |
51.0% |
659 |
41.8% |
9,868 |
53.4% |
Management/Business |
52 |
6.5% |
72 |
4.6% |
1,515 |
8.2% |
Professional |
174 |
21.8% |
293 |
18.6% |
4,232 |
22.9% |
Sales |
88 |
11% |
110 |
7% |
1,996 |
10.8% |
Administrative Support |
93 |
11.7% |
181 |
11.5% |
2,144 |
11.6% |
Services |
282 |
35.3% |
545 |
34.6% |
4,490 |
24.3% |
Blue Collar |
109 |
13.7% |
374 |
23.7% |
4,121 |
22.3% |
Total |
798 |
|
1,576 |
|
18,479 |
|
Source: U.S. Bureau of the Census, 2000 (May not add to 100% due to rounding)