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Anatomy of a market: Lexington Park, Md.

By Furniture Today Staff -- Furniture Today, December 25, 2005

Jutting into the Chesapeake Bay about 60 miles southeast of Washington, Lexington Park is home to a lot of District of Columbia commuters who prefer the rural lifestyle, as well as government workers at the nearby Patuxent Naval Air Station.

The area saw a 12% increase in population between 2000 and 2005; another 12% increase in population is projected by 2010.

The community is younger than the nation as a whole, with a median age of 34.1 years. A large portion of the population is in the prime target years for furniture buying, with 30% between 25 and 44, forecast to slip by only a percentage point by 2010. Income levels are promising as well. At $59,372, the median is more than $1,500 above the national median.

In fact, 35% of households are affluent, with annual incomes of $75,000 or more in 2005. And if projections hold true, it's only going to get better — 49% will be in the affluent range by 2010, according to EASI.

Furniture and bedding spending is projected to increase 32% over the five-year period, with desks and home office furniture, infant furniture, dining room, entertainment and kitchen furniture posting the biggest gains. Decorative accessories also will fare well, according to projections, particularly area rugs.

Furniture and accessory spending
	2005 estimated	2010 projected	% Change
All furniture and bedding	$25,561	$33,629	32%
Master bedroom	$2,691	$3,541	32
Youth, other adult bedroom furniture	$1,555	$2,075	33
Kitchen, dinette furniture	$1,113	$1,488	34
Dining room furniture	$1,950	$2,623	35
Entertainment furniture	$1,527	$2,050	34
Curios	$496	$651	31
Cocktail, end, coffee, sofa tables	$1,467	$1,945	33
Desks, other home office furniture	$1,951	$2,655	36
Stationary sofas	$3,297	$4,310	31
Stationary chairs	$413	$537	30
Reclining chairs	$1,130	$1,441	28
Swivel, glider rockers	$482	$606	26
Motion sofas	$1,141	$1,481	30
Sofa-sleepers, futons	$841	$1,046	24
Mattress, boxsprings	$3,386	$4,370	29
Infant furniture	$384	$520	35
Porch, patio, pool, outdoor furniture	$869	$1,150	32
Other misc. furniture	$868	$1,140	31
Area rugs	$2,052	$2,951	44
Lamps	$2,452	$3,275	34
Wall décor	$1,980	$2,678	35
Decorative pillows	$338	$438	30
Grills	$1,055	$1,365	29

Fast facts: Lexington Park, Md.
	2005 estimated	2010 projected	% Change
Spending on furniture and bedding in millions	$25.6	$33.6	32%
Population	96,615	107,742	12
Total Households	35,609	40,777	15
Average household size	2.6	2.6

Population by age
	2005 estimated	2010 projected	% Change
0–5	8,671	9,507	10%
6–11	9,133	9,558	5
12–17	9,307	10,319	11
18–24	9,177	10,754	17
25–34	13,156	14,140	7
35–44	16,207	16,662	3
45–54	13,403	15,759	18
55–64	9,008	11,636	29
65+	8,553	9,407	10

Households by race and ethnicity
	2005 estimated	2010 projected	% Change
White	29,024	32,244	11%
African-American	5,283	6,761	28
Asian	514	669	30
Other	788	1,103	40
Hispanic	616	841	37
White, non-Hispanic households	27,909	30,425	9

Households by race and ethnicity
Households by annual income
	2005 estimated	2010 projected	% Change
Source: Easy Analytic Software and Furniture/Today market research
Less than $15,000	2,949	2,742	-7%
$15,000 – $24,999	2,973	2,347	-21
$25,000 – 34,999	3,302	2,884	-13
$35,000 – $49,999	5,354	4,715	-12
$50,000 – $74,999	8,607	8,073	-6
$75,000 – $99,999	5,864	8,037	37
$100,000 – $124,999	3,309	6,215	88
$125,000 – $149,999	1,586	3,138	98
$150,999 – $199,999	1,020	1,256	23
$200,000+	645	1,370	112

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