Impact of Immigration on Housing

According to recently published research by the Joint Center for Housing Studies at Harvard University, minority growth in the United States continues to drive demand for housing as close to 1.5 million immigrants move into the country each year. The annual “State of the Nation’s Housing” report shows that in New York, New Jersey, California and Florida, the foreign-born made up 20 percent of home buyers and 25 percent of renters between 2000 and 2005.

Looking forward, the Harvard research predicts that minorities will account for 68 percent of overall new households between 2005 and 2015, with Hispanics representing 35 percent of that growth. As a result, Hispanics will be a major target market for starter, move-up and entry-level apartment homes.

For morning information about “The State of the Nation’s Housing 2007,” click here.

Weichert News - 6/22/2007
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