Demographic Information

The Town of Paradise is rebuilding at a remarkable rate, with over 350 businesses open as of 12/2021 and operating across a diverse range of industries and interests. With a growing population, affordable housing and building rates, and a welcoming community, it’s an ideal place for new businesses and ventures to become an integral part of the economy.

Current population and demographics

Paradise:

6,000 per 2021 Town of Paradise Commercial Retail Market Analysis
35% growth since the fire, nearly 6% of Town’s pre-fire population
Median Household income $66,245
Median rent $1,079
Median home price $227,200
21% with a Bachelor’s degree or higher

Magalia:

7,795 per 2020 census
Median Household income $50,415

Upper Ridge:

10 mile radius sphere of influence (Forrest Ranch, Concow, Butte Valley, unincorporated county areas)

Building numbers and projections 12, 24, 36 months

November 2021 – 3 years post fire

Single-family homes: 2,006 permit applications received/1,116 homes completed

Multi-family homes: 392 unit applications received/222 units completed

Demographic projections:

14% growth projected annually
Project additional 12,800 residents by 2030 for a total of 18,900 residents
2025 – 14,101
2030 – 18,900

Commercial Retail Market Analysis Data

$82.9 million in retail sales in 2020, $18,000 per capita

Household estimations:

$25,000 spent on retail and services annually in Paradise
$20,000 spent on retail and services annually in the Secondary market area
Existing Town Households anticipated to generate $55.3 million in household spending on retail goods and services annually
Secondary market households are anticipated to generate $88.9 million in household spending on retail annually

A small foothill community separated from the larger City of Chico by a 25-minute drive, Paradise is a Town of businesses made primarily by and for the local population. As such, the economy is dependent on the return of additional housing and repopulating the community. Since the 2018 Camp Fire, Paradise has made significant progress towards this goal.

Socioeconomic

Since 2019, the Town has added approximately 1,600 residents, representing growth of about 780 residents per year, on average.
Between 2019 and 2021, the Town is estimated to have added 613 units, for a total of 2,330 housing units, representing an average, annual growth of about 300 units.

The Town is projected to add about 12,800 residents and nearly 3,530 housing units between 2021 and 2030.

Retail Demand

A recent evaluation indicates Paradise businesses can’t currently meet all the needs of current Town residents.

However, the Town’s population is not yet large enough to attract new retail activity. In addition, infrastructure and safety projects such as the Transportation Master Plan, proposed Town sewer project, additional broadband capacity, etc. may be factors in when new businesses and investors may return.

The primary retail categories in demand include: Food and beverage locations and services, drug stores, specialty stores, book and music stores, hobby stores, second-hand stores, general merchandise stores, and clothing stores.

While a portion of the demand for additional retail space may be captured in the supply of existing vacant retail space, much of the existing vacant space may require redevelopment.

Commercially zoned vacant lots in Town present opportunities for new commercial retail construction, when market demand and financial feasibility can support new commercial building activity.

Economic development areas of focus

Creating a walkable downtown
Meeting construction activity demands with adequate labor force and affordable material prices
Defining Paradise Ridge as an outdoor destination
Attracting demand for office space and remote office professionals

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