laurie volk -- the implications of changing demographics on urbanism in new england
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New New England
The implications of changing demographics on urbanism
in New England
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LowerNew England
More Ethnically DiverseYoungerHigher Percentage of 1- and 2-Person HouseholdsLower Percentage of Homeownership
ConnecticutRhode IslandMassachusetts
Less Ethnically DiverseOlderLower Percentage of 1- and 2-Person HouseholdsHigher Percentage of Homeownership
MaineNew HampshireVermont
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UpperNew England
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Maine
Lower Educational AttainmentLower Median IncomeLower Median Housing Value
ZIMMERMAN/VOLK ASSOCIATES, INC.Connec&cut Rhode Island Massachuse2s New Hampshire Vermont Maine
Younger Singles & Couples
Tradi&onal & Non-‐Tradi&onal Families
Empty-‐Nesters & Re&rees
65%60%
40% 40%
46% 48%
35%
26%
36%
29%
23%
17%
25%
18%17%
23%24%28%
in a marketdominated by singles and couples.
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Nation’s housing stockis designed for families
Nationally,nearly two-thirds
of all homebuyers aresingles or couples.
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8 - 12 percent of home purchasesmade by single
men.
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16 - 24 percent of home purchases
made by single women.
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35 - 37 percent of home purchasesmade by traditional and non-traditional families
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The Great Convergence: 2004 to 2024
35
36
37
38
39
40
41
42
43
44
45
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Millions
20 to 29
50 to 59 Basic demographic support for walkable neighborhoods
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Mostly single.Highly social.
Ethnically and culturally diverse.Early/unsettled careers.
More likely to be renters.Very mobile.
Green.
The Millennials
Women earn 57% of bachelor’s degrees.
63% of master’s degrees.53% of doctorates.
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Impact on Age-Related Economic Activities Birth Years: 1977-1996
Ages Today: 20-39
Entered Kindergarten: 1982-2001 Elementary schoolsEnter High School: 1991-2010 High schools
Enter College: 1995-2014 Dormitories Enter Job Market?: 1997-2021 Apartments/condos
Married with Children??: 2003-2036 Detached Houses??Empty nesting: 2024-2060 Apts./Condos/TH/Detached
Retirement: 2047-2066 Apartments/Condos; CCRCs, etc.Death: 2057-2086 Mortuaries, crematoria, cemeteries
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Millennials loaded with student debt.$1,300,000,000,000
11.5% delinquent or in default.
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Long-term slow growth economy,due to lower spending on stuff?
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Boomers trying to get rid of stuff.
Millennials don’t even want stuff.
Millennials can’t afford stuff.
ZIMMERMAN/VOLK ASSOCIATES, INC.Connec&cut Rhode Island Massachuse2s New Hampshire Vermont Maine
Younger Singles & Couples
Tradi&onal & Non-‐Tradi&onal Families
Empty-‐Nesters & Re&rees
65%60%
40% 40%
46% 48%
35%
26%
36%
29%
23%
17%
25%
18%17%
23%24%28%
New Haven Connec&cut Providence Rhode Island Somerville Massachuse2s
Younger Singles & Couples
Tradi&onal & Non-‐Tradi&onal Families
Empty-‐Nesters & Re&rees 86%
4%
40% 40%46%
10%
35%
26%
36%
73%
7%
20%25%
13%12%
75%
24%28%