Take a Second Look at Who Youre Marketing To

first_img Diversity 2017-06-22 Brianna Gilpin in Daily Dose, Data, Featured, News June 22, 2017 510 Views Sharecenter_img The U.S. is becoming more diverse year after year, however according to Trulia research, where you live has a big impact on whether you’ve noticed. Changing data could mean a change in what demographic metros should be marketing to.Based on the U.S. Census Bureau’s 2016 population estimates by race, age, and sex, Trulia studied what the 0.7 percent increase in population between 2015 and 2016 consisted of. They found that non-Hispanic white population growth is continuing to slow—only making up 0.2 percent of all population growth and being the smallest portion in the census’ population estimates history. By contrast, Hispanics made up 50.7 percent of the growth, Asians 23.4 percent, Blacks 15.8 percent, and those that identify as two or more races 8.6 percent.According to the 2016 State of Hispanic Homeownership Report, between 2010 and 2016, Hispanics accounted for 76.4 percent of the growth in the U.S. labor force or three out of every four new workers added to the U.S. economy. Since 2010, Hispanics have achieved a net gain of 1,103,000 homeowners, going from 6,198,000 in 2010 to 7,301,000 in 2016. In contrast, there were 2,270,000 fewer non-Hispanic White homeowners during the same period.Trulia reported that no metro saw an increase in the proportion of people under the age of 20 between 2015 and 2016 and only five saw an increase or had an unchanged proportion of 25 to 64 year olds. All saw an increase in the share of population 65 years of age or more and nationally. This share went from 14.9 percent to 15.2 percent.Of the biggest 100 metros, San Francisco and San Jose, California are the only ones that experienced a decline in their populations identifying as Hispanic, falling 0.3 percent and 0.1 percent respectively.The most rapid change was seen in Fort Lauderdale, Florida; Las Vegas, Nevada; and Orlando, Florida. St. Louis was the most unchanged metro and the second slowest changing since 2000, behind Pittsburg, Pennsylvania.Trulia reported the current national racial population breakdown as 76.9 percent white, 13.3 percent black, 1.3 percent American Indian and Alaska Native, 5.7 percent Asian, 0.2 percent Native Hawaiian and Other Pacific Islander, and 2.6 percent as two or more races.Of the 100 largest metro areas, 26 were majority minority, in which national minorities made up a majority of the local population. This is unchanged from 2015, but up from a 14 majority-minority in 2000. Take a Second Look at Who You’re Marketing Tolast_img