While most companies want to conduct their research in large cities such as New York, Chicago, Miami, and Los Angeles, smaller, less “sexy” markets are just as capable of providing the insights that lead to successful business decisions. Baltimore City, widely known for The Inner Harbor, crabs, and The Star-Spangled Banner, has become an East Coast Gem with endless experiences to offer its’ visitors. From a research perspective, Baltimore provides access to a diverse and emerging market that wants to have a voice. At Observation Baltimore, the premier focus group facility in Maryland, our goal is to connect you with that voice. Whether you are looking to conduct focus groups with millennials who never drink carbonated beverages or telephone interviews with Oncologists who work at an academic hospital, Baltimore should not be overlooked as a potential market for your next research project.
Below are some key data points (Demographics, Economy & Education, and Housing & Living) that will shed some light on what Baltimore has to offer as a preferred research market.
Demographics:
The Baltimore Metropolitan Statistical Area (MSA) which includes Baltimore City and 6 surrounding counties (Anne Arundel, Baltimore, Carroll, Harford, Howard, and Queen Anne’s) was the 21st most populated MSA in 2016 with just under 2.8 million residents, with roughly 40% being African-American, Asian, or Hispanic.
In 2015, the median age of native-born citizens was 37.2 and 41.8 for foreign-born citizens. El Salvador, India, and the Philippines are the 3 largest countries of origin among immigrants in the Baltimore MSA. In 2015, 95% of residents were US citizens, surpassing the US average of 93%.
Economy & Education:
Baltimore’s economy is driven by the old saying “location, location, location”. With one of the highest concentrations of IT professionals in the US and a substantial federal and military presence, the Baltimore region has become a national epicenter for cyber security. In addition to a strong tech-related workforce, healthcare and education services provide the two highest concentrations of employment in the Baltimore area. In fact, 4 of the top 5 private employers in Baltimore are academic institutions or health systems, including Johns Hopkins University (the nation’s #1 research university) and Johns Hopkins Health System, ranked 1st and 2nd respectively.
With so many thriving companies in the area, quality paying jobs are plenty to be had. As a direct result, the median household income in the Baltimore MSA now exceeds $72,000 annually, exceeding the national average by $16,000. Less than 11% of residents in the Baltimore MSA live below the poverty line, a number that continues to decline annually.
Thanks to a growing workforce within highly skilled industries like Education, Healthcare, and Technology, the demand for an educated workforce is at an all-time high and Baltimore residents are taking notice. Nearly 40% of residents have earned at least a bachelor’s degree (38.6%) and slightly more than 90% are high school graduates (90.4%). As a result, Baltimore ranks 4th nationally among metro areas in the percentage of residents with advanced degrees and 8th in the percentage of residents with bachelor’s degrees.
Housing and Living:
With so many great career opportunities in the area and an excellent earning potential, more and more residents are joining the population of homeowners. Among the 1.04 million households in the area, 65.6% are owner occupied, slightly higher than the national average of 63%. The median home value in the area is now over $290,000 and property taxes average $3k+. Residents in the area are no strangers to traffic. The average commute to work is 29.2 minutes, 4 minutes over the national average. Some residents take the commute to the next level with 3.8% having a commute in excess of 90 minutes, also above the national average.
About Observation Baltimore
At Observation Baltimore, we understand that the success of your research is directly tied to the quality of your participants. Recognized as one of the top Maryland market research facilities, we believe that Experienced Recruiting Makes the Difference. Our experienced recruiting is the foundation of our mission, as well as courteous and proactive hospitality and client services. Just six minutes from BWI Airport and AMTRAK, our Baltimore facility has a great location. Most importantly, we understand market research!
To learn more about Observation Baltimore and how we can help with your next project here in Baltimore, contact us today. Visit www.observationbaltimore.com or call 410-332-0400 and ask for Ryan.