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2000 to 19.6% in 2009 and the number of Latino19 renters has increased from 1.9 million in 1980 to 7.0 million in 2009. Demographics will also play a role. Growth in young adult households will increase demand for moderately priced rentals, in part because the oldest echo boomers reached their late -20s in 2010. Meanwhile, growth among those between the ages of 45 and 64 will lift demand for higher -end rentals. Given current trends in home prices and interest rates, conditions will become increasingly favorable for rental markets in the coming years. The Joint Center for Housing Studies highlights two recent trends in rental demographics: growth in demand among married couples and higher - income households. Increasingly, married couples rent rather than own. From 2006-2011, married couples accounted for 50% of the growth in renter households. In the last five years, the number of higher -income households renting has also increased. It is unclear whether these trends are solely a result of the foreclosure crisis and the Great Recession or if they will persist as the economy improves. Despite decades of growth and the recent decline in vacancy rates, rents have failed to keep pace with inflation. Between the peak in late 2008 and April 2010, inflation-adjusted rents fell by 2.9%. Between 2010 and 2011, inflation-adjusted rents decreased by 1.5%. Although falling rents show signs of a weak rental housing market, they do help to alleviate pressure on low-income households struggling to pay their rent. However, the upper -end of the rental market is showing widespread increases in rent. In 2011, inflation-adjusted rent increased in nearly 60% of the markets tracked by MPF Research (Figure 8). Rent increases were largest in the West (5.2%) and the Northeast (6.5%). 19 Throughout this document, we generally refer to Hispanic and Latino people with the term "Latino". In some tables or charts, we refer to Hispanic or Latino people. And when describing people who are not Hispanic nor Latino, we use the term "non -Hispanic", based on terminology from the U.S. Census. Page 42 ECONorthwest Part 11 — Eugene Housing Needs Analysis