If immigration continues at its current pace, the minority population is likely to reach 35 percent by 2020, with the Hispanic population holding the highest percentage. These minority populations generally have a younger mean age than the white population. As a result, minority household growth among 35 to 64-year-olds should remain strong in 2010-2020. In contrast, the number of white middle-aged households will start to decline after 2010 as the baby boomer generation turns over 65 (Joint Center for Housing Studies of Harvard University: The State of the Nation’s Housing 2008). The number and share of white households under the age of 35 will also fall after 2015 as the children of the baby-bust generation begin to reach household-forming ages. White household growth in the next decade will be almost entirely among older couples without minor children and among older singles (usually widowed or divorced) (Joint Center for Housing Studies of Harvard University: The State of the Nation’s Housing 2008).
Minority household growth will occur across the broader spectrum of household types. With their higher birth rates and lower average ages, minorities will continue to post net increases in married couple households. Furthermore, the number of minorities living alone is projected to increase across all age groups, even outpacing the strong growth among white single person households (Joint Center for Housing Studies of Harvard University: The State of the Nation’s Housing 2008).
As the population of minorities and immigrants grow, the demand for affordable housing will increase (Joint Center for Housing Studies of Harvard University: The State of the Nation’s Housing 2008). Despite having lower average incomes and wealth, minority and foreign born households constitute a significant and growing fraction of homeowners with high incomes, particularly in the western region of the U.S.