While the Northeast region of the U.S. encompasses only nine migeof office furniture states, 56.4 million people live there and purchase furniture and bedding. Those consumers spent a combined $18.9 billion on product in 2016. The region contains the largest metropolitan area in the country; both in terms of population and in furniture sales, New York City. The greater New York major metro is projected to increase furniture sales by 2 1.4% over the next five years.
Three states in the North east are predicted to increase sales faster than office desk the national average of 2 1.1%: New York Massachusetts and Vermont. New York’s furniture and bedding sales are anticipated to grow by 21.5%; Vermont’s sales are expected to grow by 21.4% and Massachusetts by 21.2%.
Ithaca, N.Y., has the highest rate of growth from 2016 to 2021 in the northeast of 22.7% to reach $41.7. The average household living in Ithaca earns $84,464. The second fastest-growing metro area in the Northeast is Watertown-Fort Drum, N.Y., slated to grow 22.6% over the next five years and Vineyard Haven, Mass., with a growth rate of 21.9%. Overall, 16 metro areas in the Northeast are expected to out-pace office partiton the national average of 21.1% sales growth from 2016 to 2021.
The county of Hudson, N.J., is predicted to grow furniture sales by 23.6% to $285 million over the next five years. That makes Hudson the fastest-growing county in the Northeast. Average household incomes within Hudson are $99,872. A total of 673,654 people and just 260,375 house holds live there.