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Kentucky Population Growth Does It Matter to Real Estate? Michael Price Kentucky State Data Center University of Louisville 2013 Real Estate Economic Forecast.

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Presentation on theme: "Kentucky Population Growth Does It Matter to Real Estate? Michael Price Kentucky State Data Center University of Louisville 2013 Real Estate Economic Forecast."— Presentation transcript:

1 Kentucky Population Growth Does It Matter to Real Estate? Michael Price Kentucky State Data Center University of Louisville 2013 Real Estate Economic Forecast The Olmsted Louisville, Kentucky February 7, 2013

2 Population (in households) Households Housing Units Household Size Occupancy-Vacancy Kentucky State Data Center

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4 Kentucky Trends 1960-2010 Kentucky State Data Center Housing Units Households

5 Kentucky Trends 1960-2010 Percent Change

6 Kentucky Decennial Growth Rates 1960’s 1970’s 1980’s 1990’s 2000’s Kentucky State Data Center

7 Kentucky Vacancy Rates (Percent of total housing units not occupied ) Kentucky State Data Center

8 Source: William H. Frey New Sunbelt Melting Pot Heartland States America’s New Regions

9 The New Sunbelt Melting Pot America The Heartland Diversity states Slow growth states Migration growth states America’s New Demographic Regions

10 Source: William Frey. Colorado Georgia ImmigrationDomestic MigrationNatural Increase New Sunbelt New Sunbelt: Examples

11 Source: William Frey. California New York ImmigrationDomestic MigrationNatural Increase Melting Pot: Examples Melting Pot

12 Source: William Frey & Michael Price Pennsylvania ImmigrationDomestic MigrationNatural Increase Heartland: Examples Heartland Kentucky

13 Population Growth Rates 2000-2010 Percent Change

14 Population Growth 2000-2010

15 Jefferson (47,492) Fayette (35,291) Boone (32,820) Warren (21,270) Oldham (14,138) Kentucky County Population Growth 2000-2010 Kentucky State Data Center

16 Core Based Statistical Areas (CBSA) CBSA’s are defined by counties. Metropolitan Statistical Areas are based on Urbanized Areas of 50,000 or more and are comprised of the host county plus neighboring counties linked by commuting. Micropolitan Statistical Areas are based on Urban Clusters of 10,000-49,999. They are made up of the host county and neighboring counties linked by commuting Combined Statistical Areas are comprised of two or more contiguous Metropolitan Statistical Areas and/or Micropolitan Statistical Areas. Kentucky State Data Center

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18 Total Population Distribution 2010 Kentucky State Data Center

19 Population Growth 2000-2010 Kentucky State Data Center

20 Kentucky Population Growth 2000-2010 Kentucky State Data Center

21 Per 1,000 person Kentucky Components of Change 2000-2010

22 Population Growth in Kentucky Metro Areas 2000-2010 Kentucky State Data Center I-65 I-75 Corridor

23 Population Growth in Kentucky Metro Areas Percent Change 2000-2010 Kentucky State Data Center I-65 I-75 Corridor

24 Population Growth in Kentucky Micro Areas 2000-2010 Kentucky State Data Center

25 Kentucky Components of Population Growth by Race and Hispanic Origin: 2000-2010

26 Because household size is stabilizing, population growth is critical to the demand for housing. Kentucky’s metro and micro areas in I- 65 I-75 Corridor have robust population growth, fueled by in-migration, especially by minorities.

27 Kentucky State Data Center http://ksdc.louisville.edu/ (502) 852-7990


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