According to Nielsen/AHAA, the 15 million Upscale Latinos in this country are a powerful population segment that is injecting $500 Billion into the U.S. Economy every year. The population is expected to grow to an estimated 35 million by 2050 according to their 2014 study “the upscale Latino 2.0”.
But who are they?
Here is some interesting data from Diaz & Co. about Upscale Latinos:
- Upscale Hispanic households are growing 7 times faster than upscale non-Hispanic households
- 75% of Hispanics in $50-100K households are under the age of 45
- 39% of Upscale Hispanics are white collar workers
- 60% have strong ties to Latino culture
- There are four million Hispanic households with incomes between $50,000 and $100,000.
Why is this group important to the housing market?
According to NAHREP, in 2014, household formations in the Hispanic community grew by 320,000, accounting for 40 percent of the total U.S. Household formation growth in that year alone.
If Upscale Hispanic households are growing seven times faster, 75% of them are under the age of 45 and there are 4 million of them, they are definitely the group to watch as the next wave of homebuyers.
If you are an upscale Latino and is considering buying a home, meet with a local real estate professional today and get a step closer to your dream house!