According to the National Association of Home Builders, an examination of county-level permit data and demographic data shows that single-family house construction would be concentrated in counties where baby boomers make up the majority of the population in the first quarter of 2023.
The Census Bureau gives county level population age estimates at 5-year intervals, according to NAHB’s Eye on Housing blog. For example, 0-4, 5-9, 10-14, and 85+. We may use these estimations to divide county populations into six unique generations and discover which generation has the largest population share in each county. Generation Alpha (Ages 0-9), Generation Z (10-24), Millennials (25-39), Generation X (40-54), Baby Boomers (55-74), and the Silent Generation (75+) are the generations studied.
According to Census data, the Baby Boomer generation constitutes the majority of the population in 2,605 counties. Interestingly, in 335 counties, Gen Z already has the largest share of the population, while millennials have the majority share in 179. Gen X, an often-overlooked generational cohort, constitutes the majority of the population in only 24 counties. The quiet generation and Gen Alpha account for the vast majority of no counties.
Since 2016, single-family home construction has been concentrated in places where the Baby Boomer generation is the largest present generation. The table below shows the single-family home building market share by dominant generation by county from 2016.
Amazing Builder Partners
