According to a recent analysis done by the National Association of Realtors (NAR), there are now more households with pets in America than with children.
According to the NAR data, although the number of households with children declined over the past two decades, the NAR found that the number of households with pets increased.
NAR analysis of U.S. Census data shows that the number families with children younger than 18 living in their homes has decreased over the past decade. It dropped from 48% in 2002, to 40% in 2022.
According to the NAR, the decline in the number families with children can be attributed mainly to a general decline in birth rates. The exception being last year, which saw an increase in birth rates and children from Baby Boomer households moving away from their parents’ homes.
However, pet ownership soared during the COVID-19 pandemic. This was likely due to more Americans adopting pets. According to the analysis, cats and dogs are the most popular pets.
Pets as a consideration in home buying
The analysis shows that a large number of homebuyers consider their pets when deciding on where to buy a house.
According to the NAR’s 2022 profile, 19% of all homebuyers have considered their pets when making their decision on a neighborhood. About 14% of married couples surveyed said they considered their pets when choosing a neighborhood. 32% of unmarried couples said they did.
Unmarried home buyers comprise 16% and 25% of single men, respectively.
According to the NAR analysis, those who considered their pets in their neighborhood choice were also more likely do so for other features such as outdoor spaces, walkability, and convenience to parks or recreation areas.
40% of buyers said they valued their pets as part of their neighborhood selections, 24% prioritized walkability, and 33% prioritized proximity to parks and recreation areas.
Only one-fourth of buyers who didn’t consider their pets when choosing neighborhoods prioritized acreage. According to the analysis, 14% prioritized walkingability, while 15% prioritized access to parks and recreation areas.