Married couples with children no longer dominate the housing market
Posted on Monday, October 1, 2012 at 3:32:15 PM
Once upon a time, married couples with children made up the majority of homeowners in the United States. However, times are changing as many young adults are now waiting longer to marry and giving birth to more children outside of marriage, according to a new report from the Population Reference Bureau.
"Married-couple families with children - once the predominant household structure - now are even outnumbered by one-person households," said Linda A. Jacobsen, vice president of Domestic Programs at PRB and co-author of the report.
The study found that by 2012, only 46 percent of young adults between the ages of 25 to 34 were married - down from 55 percent in 2000. In addition, the median age for someone getting married for the first time has risen to 28.1 for men and 26.5 for women. Meanwhile, 41 percent of all births in 2010 were to unmarried parents - up from 33 percent in 2000.
As housing and living trends continue to move away from the nuclear-family model, unmarried couples or single parents will purchase more homes. Potential homebuyers can consult the experts from Home Loan Investment Bank about the residential financing options that best fit their needs.