NewsLocal News

Actions

New report suggests Baltimore metro area has 19th smallest younger population in USA

baltimore
Posted at 9:31 AM, Dec 17, 2020
and last updated 2020-12-17 14:02:44-05

BALTIMORE — A new report suggests the Baltimore metro area has the 19th smallest younger population in the country.

Researchers with Porch ranked the metropolitan areas by their population of people under age 35.

The report also compares home ownership rates for that age range with the total population in each area.

In the Baltimore-Columbia-Towson area, the report found 44.8 percent of the population is under 35 years old.

The home ownership rate for those under 35 is 39.9 percent, compared to the 66.4 percent home ownership rate for all households there.

That's good enough for seventh highest in the nation.

Nationwide, the report found those 65 years and older are projected to outnumber children by 2030. One contributing factor noted was lower reproduction rates among younger people.

People under 35 account for only 45.4% of the population, according to Porch, which they claim is nearly 10 percentage points lower than three decades prior.

The lower home ownership rate for the younger generation can be attributed in part to their preference of living in high-cost cities tied in with student loan debt.

Below is a breakdown of where we here in the Baltimore metro area stand , according to Porch.

  • Percentage of the population under 35: 44.8%
  • Population under 35: 1,253,945
  • Total population: 2,800,053
  • Home ownership rate for households under 35: 39.9%
  • Home ownership rate for all households: 66.4%

Now compare that with the rest of the United States.

  • Percentage of the population under 35: 45.4%
  • Population under 35: 148,919,424
  • Total population: 328,239,523
  • Home ownership rate for households under 35: 34.1%
  • Home ownership rate for all households: 64.1%