Rural demographics are changing. Does this affect your business?
First, Rex Hammock found the term ‘ruralpolitan’ novel.
Apparently, a ruralpolitan is someone with an above average annual household income who lives on 3 or more acres.
Second, USDA’s Amber Waves profiles changing demographics caused by more retirees and immigrants moving into rural areas. Key points:
- Nonmetro America is less ethnically diverse and older than the rest of the country, though demographic trends indicate some changes lie ahead.
- Nonmetro populations will continue to be older than metro populations because a greater proportion of retirees are moving to nonmetro counties than to metro counties, and because older people account for a larger share of the population in counties that are losing residents.
- Hispanic population growth is counteracting persistent population decline in many rural counties, especially in the Midwestern and Great Plains States.
Another article in the same issue of Amber Waves profiles the effect of the creative class on rural areas. This may be relevant for rural areas struggling to retain young, bright graduates.
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- The best things you can do for local businesses in light of coronavirus - March 27, 2020