Summary
U.S. households are getting smaller because the population is getting older, and fewer babies are being born. This change affects the housing market since people want different types of homes now, often smaller ones. Some cities have seen bigger reductions in household size than others, while a few have experienced slight increases.
Key Facts
- The average U.S. household size decreased from 2.65 people in 2014 to 2.50 people in 2024.
- Cities like Lake Havasu City, Arizona, and Hilton Head Island, South Carolina, saw household sizes shrink significantly.
- A drop below two people per household shows more people are living alone.
- Aging and more older Americans are key reasons for smaller households.
- The demand for smaller homes might be rising due to these trends.
- A few places, like Anniston, Alabama, saw household size increases, possibly due to shared living arrangements for financial reasons.
