As a thriving metropolis, the Gateway City may be experiencing strength in some neighborhoods and market segments. But to be successful, it must be able to assess recent trends and develop a clear-eyed strategy. Here are three key elements to look for in a Gateway City. To begin, determine the city's core demographics. Then, identify its most valuable assets. In this way, it can identify growth opportunities and address any potential challenges.
The Gateway Cities COG has a diverse population. The population is estimated at around two million, and about 63% of the residents are Hispanic or Latino. Non-Hispanic whites make up about 10% of the population, and African-Americans and Asians make up the remaining 10%. The average age of residents in the Gateway Cities COG region is 40 years old, with males being older than women.
The New Hampshire state law defines a Gateway City as a mid-sized city with a median household income and a bachelor's degree rate below the state average. These metrics have helped make Gateway Cities a center of commerce and economic growth for their surrounding areas. But there is much more to the city than metrics. Lawrence's mayor, Daniel Rivera, says Gateway Cities are more than just metrics.
The COVID downturn also may result in a spike in the Gateway City's population. It's possible that workers who lost their jobs have opted to live in areas where rents are cheaper. Or young adults from low-income families may have moved back home as a way to save money. Similarly, the American Community Survey shows occupancy rates had been falling before the pandemic. Regardless of the reasons, the city's demographics are changing.