May is the Asian-Pacific American Heritage Month, so in a series of blogs, we look at some demographic and real estate data regarding the Asian population. In this first blog, we look at the size of the Asian population and where they live.
The Asian Population and Where They Live
The Census Bureau estimates that in July 2015, the Asian population stood at 17.5 million (5.5% of U.S. population). Over the next 45 years, the Asian population is expected to steadily rise to 24.7 million (7.3% of U.S. population) by 2030 and to 39.9 million by 2060 (9.3% of U.S. population).
What this means to REALTORS®: The Asian population is expected to increase significantly in the next decades from about five percent of the U.S. population in 2015 to nearly 10 percent in 2060. Asians are relatively highly educated and Asian households have one of the highest median incomes among all races. These trends are expected to have a positive impact on Asian homeownership and home sales.
 Refers to the Asian Alone population.
 Source: U.S. Census Bureau, 2014 National Population Projections, Table NP2014-T10.
Copyright NATIONAL ASSOCIATION OF REALTORS®. Reprinted with permission.