by Calculated Risk on 11/09/2023 03:07:00 PM

I'll have much more on these projections - and the implications for housing - soon (I'm sure housing economist Tom Lawler will comment!)

From Census: U.S. Population Projected to Begin Declining in Second Half of Century

The U.S. population is projected to reach a high of nearly 370 million in 2080 before edging downward to 366 million in 2100. By 2100, the total U.S. resident population is only projected to increase 9.7% from 2022, according to the latest U.S. Census Bureau population projections released today. The projections provide possible scenarios of population change for the nation through the end of the century.
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“In an ever-changing world, understanding population dynamics is crucial for shaping policies and planning resources,” stated Sandra Johnson, a demographer at the Census Bureau.

“The U.S. has experienced notable shifts in the components of population change over the last five years,” she explained. “Some of these, like the increases in mortality caused by the COVID-19 pandemic, are expected to be short-term while others, including the declines in fertility that have persisted for decades, are likely to continue into the future. Incorporating additional years of data on births, deaths and international migration into our projections process resulted in a slower pace of population growth through 2060 than was previously projected.”

Projections illustrate possible courses of population change based on assumptions about future births, deaths and net international migration. The 2023 projections include a main series (also known as the middle series) considered the most likely outcome of four assumptions, and three alternative immigration scenarios that show how the population might change under high, low and zero immigration assumptions.

Click on graph for larger image.

This graph shows the projected US population for the four series.

From Census:

By 2100, the total population in the middle series is projected to reach 366 million compared to the projection for the high-immigration scenario, which puts the population at 435 million. The population for the middle series increases to a peak at 370 million in 2080 and then begins to decline, dropping to 366 million in 2100. The high-immigration scenario increases every year and is projected to reach 435 million by 2100.

The low-immigration scenario is projected to peak at around 346 million in 2043 and decline thereafter, dropping to 319 million in 2100.

Though largely illustrative, the zero-immigration scenario projects that population declines would start in 2024 in the complete absence of foreign-born immigration. The population in this scenario is projected to be 226 million in 2100, roughly 107 million lower than the 2022 estimate.