^Nice analysis lsuilike.
Might I suggest one thing though. You use the city populations. That's fine, but the immediate market really includes the metropolitan area, as people live in the surrounding suburbs and could easily get to a game. Likewise you might want to use the median household income for the metro area instead of the city. It would most likely reveal a higher and more representative income for the market. Unless those are State Median Incomes, which may be just as good. You can go to this website to do that:
Here is the table from the Census Bureau for the 2000 populations for Metro areas:
However, Salt Lake City is a odd one, as Ogden is by itself a metro area like SLC, but they are also defined as a Combined Statistical Area. Prior to 2000 they were defined together as one metro area, and the Combined Statistical Area is a way to reflect a greater market. Ogden is only 1/2 hour away, so its definitely within commuting distance. Here is the table for Combined Statistical Areas from the the Census Bureau:
Now for Reno, there are two adjacent metro areas that the Census Bureau doesn't combine. Reno metro is adjacent to Carson City metro. But since they are only 1/2 hour away from each other, they legitimately should be combined as there is no college in Carson City. Also I would estimate the population of the Reno area, to not only include Carson City, but some of the development and communities surrounding Lake Tahoe, which is not in either the Reno or Carson City metro areas. Reno-Sparks metro has ~342,000 + Carson City metro has ~52,000. This makes ~394,000. I would estimate it to be nearly ~500,000 with all the Tahoe Area surrounding it. It may be a little less than that, but essentially its ~500,000.
For Fort Collins-Loveland metro, which has ~252,000, I would say that CSU is also a Denver team, and is only 50 miles north from Denver. So I would give it a special regional megalopolis (Front Range Megalopolis) population of ~3.5 million, which reflects the continuous adjacent metro areas of Denver-Aurora, Ft. Collins, Boulder, Greeley, Colorado Springs, and Pueblo. Not all of the 3.5 million is entirely devoted to CSU, but its a statewide team and that is essentially its sub-state regional market population while 252,000 is its immediate market population and its statewide pop is 4.5 million. All of these figures describes its market population.
For Albuquerque, you might throw in Sante Fe, which is 65 miles to the north. But its a little too far, but you could include it. Albuquerque's metro is ~730,000, and with Sante Fe (65 miles to the north), you get =~900,000. But I would just stick with Albuquerque metro for immediate pop.
For Hawaii, the metro area for Honolulu is the island of Oahu -- which is Honolulu County. It has a population of ~877,000
So to cap, here is the pops for markets for these 4 schools:
Utah: SLC-Ogden = ~1.5 million, 2.4 million state
Colorado State: Ft. Collins-Loveland = ~252,000, with 3.5 million in Front Range Megalopolis, and 4.5 million statewide.
Nevada: Reno-Sparks = ~342,000, with Carson City and Tahoe Region thrown in its ~500,000, with 2.2 million statewide.
New Mexico: Albuquerque =~730,000, with Sante Fe = ~900,000, and 1.9 million statewide.
Hawaii: Honolulu metro (Island of Oahu -- Honolulu County) =~877,000 and a statewide pop of 1.3 million.
Again, the state population is important as these teams are all statewide teams, although Nevada may be all of Nevada outside of Las Vegas which is UNLV's territory. But still including the state's entire population is important, as its a better academic school to UNLV and may have some relevance in Las Vegas.