Once accounted for 75% of U.S. households in 1960, the number of married couples is now less than 50%, according to a report by Chris Porter of John Burns Real Estate Consulting. This figure corresponds to the increase of non-family households, which skyrocketed from 7.9 million half a century ago to 39.2 million today.
To the extent that the downsizing trend will affect the future housing market, “[f]amily households are more likely to stretch for size over location. Non-family households are more likely to value location—proximity to work, entertainment, etc.—and then size. They are less willing to commute than a family household,” writes Porter.
Olick elaborates, “With fewer large family households and less desire for a big space, smaller, full-service rental apartments are more desirable to a growing segment of the population.
Read more at Planetizen
