Two main factors make the Columbia market a promising retail environment: the sizeable population growth, and controls on future retail property development. Columbia is at the heart of a 12 county region that is projected to grow to more than 1 million people by the year 2025, an increase of more than 90 percent from the 2000 population of 521,251 people. At the same time an anti-sprawl movement, combined with uncertainty about the future of the economy have caused a slow down in retail development.
Consequently, the Columbia retail market continues to maintain very high occupancy levels. Containing almost 7.5 million square feet of mall and strip retail space this market had a occupancy rate of 90.5% as of mid-year 2000.
The employment base in Columbia is very stable, with a significant component of jobs connected to the state capitol, the stat’s major university, University of South Carolina, and other colleges, and Fort Jackson, one of the largest army bases in the Southeast. The growing market and additional consumers will increase the need for retail goods in the region, which combined with a diminishing addition of new retail space, will have a positive effect on the retail environment in Columbia.
Columbia’s population is expecting to grow 6.5% annually for the next several years. According to the March 2001 edition of the Shopping Center World Magazine. Richland County is the fastest growing residential area in the region with more than 2000 new homes built annually. The consumption-driven 20-to-40 age group is forecasted to be the highest growth sector of the trade area. In addition to increasing the pool of prime working age people, this group, which traditionally spends proportionally more on clothing, recreational and entertainment goods, will provide a constant demand for Richland Mall retailers.
| 1 Mile | 5 Mile | 10 Mile | Trade Area | |
| Population | 9,220 | 163,183 | 315,730 | 72,793 |
| Households | 4,542 | 75,899 | 136,680 | 34,829 |
| Ave. Household Inc. | $70,184 | $45,505 | $50,724 | $54,648 |
| Median Age | 45 yrs | 37 yrs | 37 yrs | 39 yrs |