Statistics of Hispanic Renters
Based on U.S. Census figures, the Hispanic community in the United
States is the fastest growing demographic group in the country.
Between 1990 and 2003, the Hispanic population grew 61 percent from 21.9 million to 35.3 million.
According to the US Census Bureau, by the year 2050 the Hispanic population of the US will nearly triple: “The Hispanic population will jump from 35.6 to 102.6 million, or from 12.6 percent to 24.4 percent of the (American) population. Latino purchasing power has increased from $223 billion in 1990 to $490.7 billion in 2002 and is projected to grow to $1.1 Trillion by 2009” - Selig Center for Economic Growth, University of GA
The gross domestic product of U.S. Hispanics will be the ninth-largest economy in the world by 2010. Did you know that 54 percent are renters?
The following are interesting rental statistics:
· Latinos make up nearly 13% of the total US population.
· The purchasing power of Hispanics has increased by 118 % in the last 10 years
· In 2002, 2.9 million banking customers were Hispanics
· Over 2 Million LA Hispanics use credit cards – up from 1.7 Million four years ago.
· 67% - the percentage of Hispanic families consisting of a married couple.
· 44% - the percentage of Hispanic families consisting of a married couple with children under 18.
· 65% - the percentage of Hispanic children that live with both parents.
· 11% - the percentage of Hispanic population underage 5, as of July 1, 2004. Hispanics had a higher concentration of preschoolers among their population than any other race or ethnic group.
· 2.53- the average household size of renter-occupied units
· More than half of Hispanic households have two or more earners