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The Urban Land Institute (ULI) recently released its report, Home in America: Immigrants and Housing Demand. The research report analyzes housing demand trends for immigrant populations, a demographic that has accounted for about 28% of household growth in the United States in the last 20 years.
The report looks to the growth of immigrant populations in all metropolitan regions, and notes that settling patterns of foreign-born populations have changed from previous generations. While trends vary among populations, the report finds increased interest in the suburbs for immigrants, who seek detached, single-family homes. To support its findings, ULI looked to five metropolitan areas as case studies. Overall, income and employment opportunities were driving factors in where foreign-born populations decided to live.
Assuming there is no major change in immigration patterns for the United States, ULI projects that immigrant populations will continue to be key drivers in housing demand and growth. Given the preference for single-family homes among this demographic, this demand is expected to be particularly strong in single-family homeownership. Nevertheless, immigrant populations are still projected to be a driving force in increased demand for townhouses, condominiums, and multifamily rental apartments in both the suburbs and cities.
Click here to read the full report.