Trend 1: Fewer Americans believe home ownership is essential in being part of the middle class.
Trend 2: People want to live in walkable neighborhoods with close access to work, retail, entertainment, recreation, restaurants, schools, and transit.
Trend 3: Household sizes are getting smaller.
Trend 4: Generation Y are willing to live in smaller homes, in return for shorter commutes and walking & biking distance to major amenities.
A 2009 American Housing Survey conducted by the US Department of Housing and Urban Development shows the median square foot per person is much less than the median square foot of a home.
Given that the average household sizes are declining, it is appropriate to consider what sort of housing to design for the future.
Trend 5: Multifamily housing is booming across the US.
The chart below shows the percentage of multifamily housing units being constructed compared to the overall housing being built across the United States.
Overall, existing data and trends show demographic shifts of families, household sizes, and urban lifestyle preferences. As the real estate market changes, these trends call for diversified housing choices which meet the needs for the future generations of Americans.
- Ten Principles for a New Era for Multifamily Housing: Michelle Mcdoungh Winters, Urban Land Institute http://www.slideshare.net/ULITerwilligerCenter/10-principles-rental-era-final-compressed
- Public Says A Secure Job is The Ticket to the Middle Class - Pew Research Center: http://www.pewsocialtrends.org/2012/08/31/public-says-a-secure-job-is-the-ticket-to-the-middle-class/
- Examples of Urban Infill - Build LLC http://blog.buildllc.com/2012/11/examples-of-urban-infill/
- The Future of Urban Housing: City Lab http://www.citylab.com/housing/2012/04/future-urban-housing/1672/
- Why Transit Oriented Development and Why Now?: Reconnecting America http://www.reconnectingamerica.org/assets/Uploads/tod101full.pdf
- What’s Next? New Urban Land Institute Report Explores How Fundamental Societal Change Could Dramatically Affect Urban Land Use Through the End of the Decade: Urban Land Institute - http://uli.org/press-release/whats-next-new-urban-land-institute-report-explores-how-fundamental-societal-change-could-dramatically-affect-urban-land-use-through-the-end-of-the-decade/
- Dream Home for the New Era: Compact, connected & mortgage-free?: Placemakers http://www.placemakers.com/2012/02/27/dream-home-for-the-new-era/
- America’s Families and Living Arrangements, 2012: US Census http://www.census.gov/prod/2013pubs/p20-570.pdf
- Single-family homes are going out of style. Thanks, millennials! : Vox. http://www.vox.com/xpress/2014/10/19/6996017/single-family-homes-are-going-out-of-style-thanks-millennials
- Young Couples Seek Townhouses and Condos with an Urban Feel: San Jose Mercury. http://www.mercurynews.com/bay-area-news/ci_24715446/young-couples-seek-townhouses-and-condos-an-urban
- The Geography of Home Size and Occupancy: Robert Dietz, Ph.D. and Natalia Siniavskaia, Ph.D. Economics & Housing Policy http://www.nahb.org/generic.aspx?genericContentID=171558&channelID=311