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Table 26. Echo Boomers (Age in 2012: 15 to 28 years old; Age in 2035: 35 to 48 years old) 36 Examples of such research include Housing in America: The New Decade from the Urban Land Institute or The Rise of the Non - Traditional Household from Multifamily Trends. Page 98 ECONorthwest Part 11 — Eugene Housing Needs Analysis Echo boomers are one of the fastest growing segments of Lane County's population Demographic • By 2030, the State projects that there will be nearly 140,000 people 25 to 49 trends years in Lane County, up from nearly 115,000 people in 2000. • There will be an increase of about 25,000 people between the ages of 25 to 49 years in Lane County. This group will account for 24% of total population growth over the 2000 to 2030 period. Age of Housing preferences shift for householders as they get older. household • Under 25 years old: 95% were renters, and nearly three-quarters live in a head multi -family unit. • 25 to 34 years old: 71 % were renters and 44% lived in a multi -family unit. • 35 to 44 years old: 45% were renters and 25% lived in a multi -family unit Household Household size increases slightly until age 44. size and • More than 70% of households between age 15 and 44 years have two or more composition persons. • About 30% of households between 15 to 24 years are single -person o households, compared with 22% of households 35 to 44 years. • Seventy-seven percent of households with two or more persons younger than 0 age 34 are renters. NHousehold Younger households have lower income and homeownership rates on o income average. • About two-thirds of households under 25 years (which includes college C students) had an income of less than $25,000. About 56% of households between 25 and 44 had income of less than $50,000. • Younger households generally had less accumulated wealth, such as housing equity. o • Households between 25 and 44 years had higher than average income, at a� about 115% of Eugene's median household income. Lu • Higher incomes generally correlate with homeownership. More than 80% of younger households with income more than $45,000 (in 2000) were homeowners, with more than three-quarters owning single-family detached dwellings. Potential Growth in echo boomers will result in increased demand for all housing effect on types in Eugene. housing Recent research hypothesizes that echo boomers may make different housing demand choices than their parents as a result of the on-going recession and housing crisis. They suggest that echo boomers will prefer to rent and will prefer to live in multi -family housing, especially in large cities.36 Other studies suggest that the 36 Examples of such research include Housing in America: The New Decade from the Urban Land Institute or The Rise of the Non - Traditional Household from Multifamily Trends. Page 98 ECONorthwest Part 11 — Eugene Housing Needs Analysis