Murrieta, the Perfect Location for Retail
Average household incomes in Murrieta are at a healthy $97,200, which exceed the cities of San Diego ($83,100), Tustin ($95,200), Rancho Cucamonga ($96,100), Riverside ($71,400) and neighboring Temecula (95,700). By 2013, Murrieta’s population is projected to exceed 116,000, while average household incomes are projected to exceed $100,000 annually. Murrieta residents have more discretionary income than those living in the cities of San Diego, Tustin, Rancho Cucamonga, Riverside and Temecula. Residents of Murrieta generate higher per capita spending in the department store and general merchandise retail categories than all other communities studied. Murrieta residents outspend their Inland Empire neighbors in almost all other categories and surpass San Diego residents in GAFO (General merchandise, Apparel, household Furnishings and Other shopping center-type merchandise), as well as in food store, and other community-oriented store categories. According to Caltrans, daily north and southbound traffic counts on 1-15 average 135,000 throughout the year, while vehicle volumes on 1-215 account for another 92,000 on an annual average basis.
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Located at the convergence of 1-15 and 1-215, Murrieta offers the ideal Southern California location for retailers. With a population of over 100,000, the City of Murrieta is the fourth most-populous city in Riverside County, though considered by many as a submarket to nearby San Diego. With a location reminiscent of the area around Orange County’s Irvine Spectrum, Murrieta is an underserved retail market and has shown a substantial expenditure leakage from Murrieta to surrounding communities.