RealPage: The size of the average U.S. household is growing

Mortgage & Real Estate

For the first time since 1850, the average size of the U.S. household is on the rise, RealPage says.

It’s not just the kids or Millennials, either. Households are growing and becoming multi-generational.

Over the last century-and-a-half, household sizes have actually been shrinking, according to the data from the Census Bureau. But that trend reversed recently.

In 2010, the average number of habitants in a house was 2.58, but in 2018, it was 2.63.

According to the Census Bureau, the population within a household has grown 6% since 2010 and household formation has grown 4%.

About 20% of households today are a multi-generation home, up from 12% of households in 1980. During the previous economic downturn, many households most likely added or retained an extra adult, RealPage said.

These extra adults are often a parent or child of the primary occupant or a roommate or boarder who cuts down on the cost of living. This makes up 20% of households in 2019, up from 17% in 2007.

Despite these numbers, RealPage says that single-occupant apartment households still outnumber multi-occupant units.

Of those multi-occupant apartment households, RealPage found that roommates by necessity, young couples/roommates by choice, families, and established married couples are the four commonalities.
The post RealPage: The size of the average U.S. household is growing appeared first on HousingWire.