The new demographics of housing

Abstract

During the 1990s, minorities played an increasing role in population growth throughout the United States. Fueled by international migration and by high natural increase, Asians and Hispanics have joined with blacks to greatly elevate minority contributions to population and household growth at almost every geographic level. In addition to racial and ethnic turnover, households have been changing compositionally because of the aging of the population and because of the increase in the number of unmarried adults.

This article surveys these and other demographic changes and examines their implications for household growth and housing consumption. A clearer understanding of both white and minority roles in owner and renter housing trends is developed through tracking changing consumption patterns. Distinct patterns of cohort turnover have taken place in different vintage housing stock. These trends, which have led to large net gains for minorities, are expected to continue over the next decade and beyond.