Housing's Primary Marketing Targets

The U.S. population is projected to increase by almost 42 percent between 2010 and 2050. Three major demographic segments will lead the way as prime targets for builders. Women, Baby Boomers and Immigrants.

Women are the fastest growing buyer segment, according to Metropolitan Research. With more women working and thanks to the economy, bringing home the bacon, builders need to tap into the diverse wants of the female customer. And just what are those needs? Enhanced security, natural lighting, large closets, spa-like bathrooms as well as low maintenance yards and materials.

As America becomes more gray, the Baby Boomer segment will be more inclined to downsize and seek smaller households than they previously owned. The single story home with generous storage, a large kitchen and open floor plan are some of the most requested variables according to ProMatura reseach.

The Census Bureau expects the Hispanic population to neary triple to 132.8 million by 2050, which will represent 30 percent of the total population. Asians are expected to increase to 40.6 million from 15.5 million today. Those two demographics favor some of the same trends. Extended families mean larger homes, prefer to be close to their religious affiliations and tend to share the same types of employment, such as medicine and technology.

Meeting the housing needs for the U.S. population is going to provide opportunities for builders to keep up with a country that is growing, getting older and becoming more diverse. Builders should consider these important demographics when looking to the future.