Tuesday, October 24, 2006

Census Report

The U.S. Census reported last week that the nation's population reached 300 million. This milestone occurred 39 years after the 200 million mark was reached on Nov. 20, 1967.
The Census Bureau's estimate was based on the fact that the United States registers one birth every seven seconds and one death every 13 seconds, while net international migration is expected to add one person every 31 seconds. The result is an increase in the total population of one person every 11 seconds.
This rapid increase will result in the formation of more households and more potential homebuyers, not only because of the growing population, but because household size is shrinking, and more people are buying homes.
· The population is living longer. In 1915, life expectancy was 54.5 years; in 1967, it was 70.5 years. By 2006, life expectancy was 77.8 years. The median age of the population was 24.1 years in 1915. By 1967, the median age was 29.5 years, and today, the median age is 36.2 years.
· The population is also delaying marriage, which is contributing to higher numbers of households: In 1915, the median age for men and women respectively to marry was 25.1 and 21.6 years. People married much younger in 1967, 23.1 and 20.6 years respectively. By 2006, the trend had reversed. Men married at 27.1 years and women at 25.8 years.
· In 1915, when the U.S. population reached one hundred million, households were occupied by 4.5 people. By 1967, households contained 3.3 people. Today, 2.6 people occupy homes that have doubled in square footage since 1950.
· Only 45.9 percent of the population owned their own homes in 1915, while 63.6 percent owned their own homes by 1967. In 2006, a record 68.9 percent own their own homes and many own more than one.
According to projections compiled in 1996 by the Census Bureau, the number of households in the U.S. is expected to reach 115 million by 2010. Families with children under the age of 18 are on the decrease, down to 48 percent. By 2010, 3 out of 5 families will have no children under the age of 18, an increase of 28 percent. One quarter of households are maintained by those who live alone, and will increase to 31 million by 2010.
The Census expects approximately 12 million households to be added to the current number between 2000 and 2010.


Post a Comment

<< Home