U.S. Population Growth Rate Reaches 23-Year High
According to the U.S. Census Bureau, the number of U.S. residents grew by 3,304,757 in 2024, raising the total population to 340,110,988. The population grew at a rate of 0.98% — the highest rate since 2001.
The rise in 2024 marked the growth rate’s third straight increase, following six consecutive years of declines and reversing an overall downward trend dating back to the early 1990s.
The largest source of population growth was net immigration, which totaled 2,786,119 in 2024. The other component was natural growth (births minus deaths), which equaled a gain of 518,638.
Population Growth by U.S. State
At the state level, 47 states and the District of Columbia experienced population growth in 2024. Texas recorded the largest population increase with a gain of 562,941, followed by Florida (467,347) and California (232,570).
The upward trend in population growth is a welcome statistic for the housing market. However, even if immigration levels remained similar to those in recent years, household formations are projected to decline in the coming decades, according to a recent study from the Harvard Joint Center for Housing Studies. A slowdown in household growth would ultimately put a damper on housing demand.
NAHB economist Jesse Wade provides further details on the population growth rate in this recent Eye On Housing article.
Latest from NAHBNow
Membership
Oct 29, 2026
NAHB Names Alison Benson as its New Chief Financial Officer and Treasurer
NAHB has promoted Alison Benson, CPA, to chief financial officer and treasurer. Benson brings more than two decades of accounting, financial planning and nonprofit financial management experience to the role. She joined NAHB in February 2026 as vice president, controller, and also served as interim treasurer.
Education
Oct 28, 2026
How Project Managers Can Effectively Set Expectations to Find Success
Hone your management skills in an upcoming Nov. 12 live online course titled “Project Controls Fundamentals: Monitoring Scope, Cost and Time” from 1-4 p.m. ET.
Latest Economic News
Economics
Oct 29, 2026
PCE Inflation Accelerated in September
The Federal Reserve’s preferred inflation gauge accelerated in September after holding at 3.0% for three consecutive months, complicating the Fed’s path to its 2% target. Consumer spending continued to be pushed up by elevated energy prices rather than income growth, driving the personal saving rate to the lowest level in nearly four years.
Economics
Oct 29, 2026
U.S. Economy Accelerated in the Third Quarter of 2026
The U.S. economy grew at a faster pace in the third quarter of 2026, supported by stronger consumer spending, robust business investment, and increased government spending. However, residential investment remained a weak spot, highlighting the continued challenges facing the housing sector amid elevated borrowing costs.
Economics
Oct 28, 2026
Homeownership Rate Rises to 65.5%
The latest homeownership rate reached 65.5% in the third quarter of 2026, according to the Census’s Housing Vacancy Survey (HVS). While this was a modest quarterly decrease, the broader picture continues to reflect significant affordability challenges.