The Future of Household Formation and Homeownership in Delaware

Forecasting State Homeownership Trends

Trends in household formation and homeownership have important implications for states’ housing markets and broader economies. They also reveal who has benefited from homeownership and who has been shut out of this critical wealth-building tool. To better understand the past and future of household formation and homeownership in Delaware, we look at trends by age, race, and ethnicity. Our projections, using data from decennial censuses and the American Community Survey, show what will happen over the next two decades if current policies stay the same. For more details on the methodology, see our report.

Household Formation

We look at changes in the number of households (defined as one or more people who live in a housing unit) for four racial and ethnic groups: Hispanic, non-Hispanic white, non-Hispanic Black, and people of other races, which includes Asians, American Indians, Alaska Natives, Native Hawaiians, other Pacific Islanders, and multiracial people (all of whom are non-Hispanic). We also examine household formation trends for people younger than 65 and people ages 65 and older.

Number of Households and Household Growth

Number of Households in Delaware, by Race or Ethnicity
 
  1990 2000 2010 2020 2030 2040
Total 246,856 298,872 342,280 377,733 415,159 436,616
White 202,742 228,789 242,940 248,747 257,628 252,184
Black 36,715 51,555 66,530 82,328 96,475 107,837
Hispanic 4,215 9,359 18,190 26,225 34,908 44,631
Other 3,184 9,169 14,620 20,433 26,149 31,964
  Household Growth: Delaware Household Growth: Nationwide
2010–2020 2020–2030 2030–2040 2010–2020 2020–2030 2030–2040
Total 10.4% 9.9% 5.2% 5.9% 6.4% 5.4%
White 2.4% 3.6% −2.1% 0.1% 0.5% −1.3%
Black 23.7% 17.2% 11.8% 9.9% 10.1% 8.8%
Hispanic 44.2% 33.1% 27.9% 22.1% 19.2% 17.3%
Other 39.8% 28.0% 22.2% 20.9% 20.0% 18.4%

Sources: Decennial censuses, the American Community Survey, and Urban Institute projections.
Notes: Values for 2020, 2030, and 2040 are projected values. The “Other” category includes Asians, American Indians, Alaska Natives, Native Hawaiians, other Pacific Islanders, and multiracial people.

Number of Households in Delaware, by Age


 

Number of Households in Delaware, by Age, Race, and Ethnicity
 
  Younger than 65 65 and older
White Black Hispanic Other White Black Hispanic Other
1990 156,825 31,396 3,953 3,002 45,917 5,319 262 182
2000 170,954 43,650 8,768 8,465 57,835 7,905 591 704
2010 174,690 55,530 17,000 12,900 68,250 11,000 1,190 1,720
2020 156,193 64,254 24,193 16,745 92,554 18,074 2,032 3,688
2030 132,730 65,889 30,294 20,099 124,897 30,586 4,614 6,050
2040 119,561 71,079 35,209 23,589 132,623 36,757 9,421 8,375
Number of Households in the United States, by Age, Race, and Ethnicity
 
  Younger than 65 65 and older
White Black Hispanic Other White Black Hispanic Other
2000 60,344,232 9,972,344 8,293,773 4,728,999 18,748,904 1,835,658 928,629 627,564
2020 55,784,880 11,872,258 14,733,722 7,456,779 26,591,297 3,379,648 2,550,232 1,616,708
2040 48,524,107 13,051,680 19,825,205 10,817,807 33,236,589 5,553,598 6,026,735 3,088,951

Sources: Decennial censuses, the American Community Survey, and Urban Institute projections.
Notes: Values for 2020 and 2040 are projected values. The “Other” category includes Asians, American Indians, Alaska Natives, Native Hawaiians, other Pacific Islanders, and multiracial people.

Household Racial and Ethnic Composition, by Age, in Delaware, and Nationwide

Sources: Decennial censuses, the American Community Survey, and Urban Institute projections.
Notes: Values for 2020, 2030, and 2040 are projected values. The “Other” category includes Asians, American Indians, Alaska Natives, Native Hawaiians, other Pacific Islanders, and multiracial people.

Homeownership

We look at changes in homeownership for four racial and ethnic groups: Hispanic, non-Hispanic white, non-Hispanic Black, and people of other races, which includes Asians, American Indians, Alaska Natives, Native Hawaiians, other Pacific Islanders, and multiracial people (all of whom are non-Hispanic). We also examine trends in the number of homeowners and renters younger than 65 and people 65 and older.

Delaware Homeownership Rates, by Race or Ethnicity
 
  1990 2000 2010 2020 2030 2040
Total 70.3% 72.3% 72.0% 72.3% 72.6% 72.2%
White 74.9% 79.2% 80.2% 82.4% 82.5% 81.8%
Black 49.1% 50.8% 52.4% 51.4% 56.7% 62.0%
Hispanic 41.6% 42.0% 46.1% 53.3% 56.2% 56.4%
Other 59.5% 54.1% 58.7% 57.9% 55.7% 53.8%
National Homeownership Rates, by Race or Ethnicity
 
  1990 2000 2010 2020 2030 2040
Total 65.3% 66.2% 65.1% 64.7% 63.6% 62.2%
White 70.1% 72.4% 72.2% 73.0% 72.5% 71.4%
Black 45.2% 46.3% 44.3% 41.9% 41.1% 40.6%
Hispanic 43.3% 45.7% 47.3% 49.0% 50.2% 51.3%
Other 53.7% 53.0% 56.3% 58.1% 57.9% 57.4%

Sources: Decennial censuses, the American Community Survey, and Urban Institute projections.
Notes: Values for 2020, 2030, and 2040 are projected values. The “Other” category includes Asians, American Indians, Alaska Natives, Native Hawaiians, other Pacific Islanders, and multiracial people.

Homeowners and Renters, by Age, in Delaware and Nationwide

Delaware Homeownership Rates, by Age
 
  1990 2000 2010 2020 2030 2040
Younger than 65 67.8% 81.4% 82.0% 75.4% 65.0% 57.3%
65 and older 80.1% 82.5% 83.1% 84.7% 83.0% 81.0%
National Homeownership Rates, by Age
 
  1990 2000 2010 2020 2030 2040
Younger than 65 62.3% 63.0% 61.6% 59.5% 57.5% 56.5%
65 and older 75.8% 78.1% 77.5% 78.4% 76.0% 73.0%

Sources: Decennial censuses, the American Community Survey, and Urban Institute projections.
Note: Values for 2020, 2030, and 2040 are projected values.

Millions of Owners and Renters in Delaware and Nationwide, by Age

Sources: Decennial censuses, the American Community Survey, and Urban Institute projections.
Note: Values for 2020, 2030, and 2040 are projected values.