TheMReport

MReport February 2020

TheMReport β€” News and strategies for the evolving mortgage marketplace.

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32 | M R EP O RT O R I G I NAT I O N S E R V I C I N G DATA G O V E R N M E N T S E C O N DA R Y M A R K E T THE LATEST ORIGINATION One-Person Households on the Rise The change represents a "major lifestyle shift." T he number of single- person households in 2018 rose in 83 of the 200 largest U.S. cities when compared to 2008, according to a report by Point2Homes. Fifteen large cities have a share of single-person households greater than 40% and 98 cities had a share between 30% and 40%. Also, the share of unrelated people living in the same home rose 14% nationally and has more than doubled in Mesquite, Texas; Miramar, Florida; Sunnyvale, California; Midland, Texas; Columbus, Georgia; and McAllen, Texas. "One reason for the rise in one- person households is the major lifestyle shift of younger genera- tions, who now focus on their education, career, and personal goals, eschewing more traditional paths, like marriage and family formation," the report states. North Las Vegas, Nevada, was home to the largest increase in the share of single-person households from 2008 to 2018 at 43.3%. North Las Vegas 23.5% of single-person households. The report states that the U.S. Census Bureau has identi- fied North Las Vegas as one of the fastest-growing regions in the country, seeing an influx of high-tech businesses move into the area. New Orleans, Louisiana, has the highest share of single-person households at 49.4%. The share of single-person homes in 2008 was 40.6%. Santa Ana, California, was home to the lowest share of single-person households in 2018 at 14.6%β€”relatively unchanged from 2008's 13.6%. Mesquite reported a 256% increase in the share of unrelated people living together from 2008 to 2018, growing from 0.6% to 2.2%. Miramar was closed behind with a 226.2% increase over that same time span. Tempe, Arizona, was home to the highest share of unrelated people living together in 2018 at 15.9%. Tallahassee, Florida, came in at No. 2 at 14.4%. "The increasing number of un- related people choosing to share a home suggests that more residents are opting to live together rather than increasing their commute time or moving out of the city where they currently work and live," the report states.

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