By: Hemanth Ramesh December, 17, 2019
According to Gavop’s analysis of data published by the Census Bureau, the number of Hispanic households has seen the most significant increase in percentage among all ethnic minorities. For the first time in history, the number of Hispanic households crossed the number of black households in the country. In 2019, the number of Hispanic households stood at 17.8 million, while the number of black households stood at 17.2 million.
The percentage of Hispanic householders who owned their homes was also higher than the percentage of black householders who owned their homes in 2019, according to the Census Bureau. The Hispanic population in the U.S. stood at 58.9 million in 2018, which accounted for 18.1% of the total U.S. population.
In 2018, Hispanics formed 485,000 new households, which accounted for 32.4 of the total household formations in the U.S. 48% of the total Hispanic households consisted of families with married couples. The second-highest category was that of individuals living alone, with 19% of the Hispanic population in 2019. The percentage of single mothers with at least one child stood at 13%. Single fathers were the smallest percentage among all categories, at 2%.
The percentage of other family/nonfamily occupancy and cohabiting stood at 11% and 8%, respectively, among the Hispanic community. Hispanic homeownership has increased along with the community’s gains in income and education. The median annual income of Hispanic households rose by 3.7% in 2018 compared to a 1.8% rise in income for all other communities. Over the last five years, the income of Hispanic households rose by a massive 20.7%. Between 2016 and 2017, the Hispanic population rose by 1.5 million, which accounted for over half of the population growth in the U.S.
At 3.7 individuals per household, Hispanic households are larger than the average U.S. household, with an average of 3.0 individuals per house. From 2008, the Hispanic community has also seen a massive 62.7% total U.S. homeownership gains.
Hemanth Ramesh works as a writer for Gavop. He has previously written content for film promotions, start-ups, advertising agencies and event management firms. Hemanth Ramesh completed his MA in Journalism and Mass Communication from The English and Foreign Languages University. His other passion includes script writing.