Hispanics represent almost 18% of the population in the United States, and that number is expected to continue growing in the coming decades, despite slowing down due to immigration and reduced birth rates. According to a recent report by Nielsen, it is expected that the Hispanic population will reach 24% by 2040 and 29% by 2060. It is also reported that Hispanics are “projected to account for a full 65% of the nation’s population growth over the next 45 years.” What this means is that the Hispanic population will more than double, and will reach over 119 million people, by 2060.
Here are two statistics about household growth among Hispanics:
Hispanics will drive U.S housing demand, accounting for 5.7 million more Hispanic households in 2024 than in 2014, representing 36% of the total household formation growth (15.9 million) projected through 2024.
Hispanics will account for 52% of new homeowners between 2010 and 2030.
These projections are only to 2030, but you don’t have to wait until then to become a homeowner.
If you are a Hispanic who is thinking about buying a home, you are not alone! Call your local real estate professional and see the options available to you in your marketplace.