The Future of Household Formation and Homeownership in West Virginia

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 West Virginia, 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 West Virginia, by Race or Ethnicity
 
  1990 2000 2010 2020 2030 2040
Total 687,061 736,521 763,830 729,759 686,710 624,475
White 661,430 700,838 721,630 681,457 632,602 564,429
Black 20,465 21,657 23,590 23,403 23,090 22,061
Hispanic 2,148 4,107 6,050 9,637 13,225 17,231
Other 3,018 9,919 12,560 15,263 17,793 20,754
  Household Growth: West Virginia Household Growth: Nationwide
2010–2020 2020–2030 2030–2040 2010–2020 2020–2030 2030–2040
Total −4.5% −5.9% −9.1% 5.9% 6.4% 5.4%
White −5.6% −7.2% −10.8% 0.1% 0.5% −1.3%
Black −0.8% −1.3% −4.5% 9.9% 10.1% 8.8%
Hispanic 59.3% 37.2% 30.3% 22.1% 19.2% 17.3%
Other 21.5% 16.6% 16.6% 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 West Virginia, by Age


 

Number of Households in West Virginia, by Age, Race, and Ethnicity
 
  Younger than 65 65 and older
White Black Hispanic Other White Black Hispanic Other
1990 483,241 13,685 1,744 2,821 178,189 6,780 404 197
2000 518,057 16,349 3,561 8,421 182,781 5,308 546 1,498
2010 528,280 19,030 5,090 10,240 193,350 4,560 960 2,320
2020 448,593 17,025 8,178 11,260 232,864 6,378 1,458 4,003
2030 379,187 14,924 11,077 12,762 253,415 8,166 2,148 5,031
2040 324,650 14,993 14,144 15,391 239,780 7,069 3,087 5,363
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 West Virginia, 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.

West Virginia Homeownership Rates, by Race or Ethnicity
 
  1990 2000 2010 2020 2030 2040
Total 74.1% 75.1% 73.4% 74.2% 72.5% 70.4%
White 74.9% 76.3% 74.8% 76.0% 74.7% 73.2%
Black 54.5% 50.0% 46.4% 42.3% 40.4% 38.6%
Hispanic 72.5% 55.1% 52.9% 52.7% 48.9% 45.4%
Other 47.5% 55.3% 54.3% 56.4% 52.9% 49.2%
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 West Virginia and Nationwide

West Virginia Homeownership Rates, by Age
 
  1990 2000 2010 2020 2030 2040
Younger than 65 71.2% 72.0% 69.8% 67.9% 66.1% 63.9%
65 and older 82.1% 84.2% 83.6% 86.8% 82.4% 79.8%
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 West Virginia 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.