1. Demographic Trends “Where we go from here” Presented by: Robert M. Lefenfeld Principal, Real Property Research Group, Inc.

2. Where we go from here. Macro Demographic Trends Recent Development Trends Projected Growth Patterns Implications of Trends on Housing

3. Maryland Population Pyramid 2000-2010 Prepared by the Maryland Department of Planning from Census 2000 20102000

4. Change in Households by Age of Household Head for Maryland, 2000 - 2010 Source: The Maryland Department of Planning, Planning Data Services

5. Maryland Population Pyramid 2010-2020 Prepared by the Maryland Department of Planning from Census 2000 2020 2010 Bob Lefenfeld:

6. Change in Households by Age of Household Head for Maryland, 2010 - 2020 Source: The Maryland Department of Planning, Planning Data Services

7. Change in Households by Age of Household Head for Maryland, 2020 - 2030 Source: The Maryland Department of Planning, Planning Data Services

8. Maryland Regions

9. Job Growth by Md. Regions Source: Maryland Department of Labor

10. Permits by Md. Regions Source: Maryland Department of Planning

11. Impact of Growth Controls Source: Maryland Department of Planning, RPRG

12. 2000 Commutation Patterns by Md. Region Source: Maryland Department of Planning

15. Source: Metropolitan Washington COG

17. Product Implications Demographically, Active Adult housing demand growing. –Much AA exurban locations since prime suburban land premium in these markets. –Smaller, more expensive for sale housing in urban infill areas. –Locate close to home. 60% of 55 to 64 buyers buy within county they reside.

18. Second Homes Buyers typically 60 years old Income $93,000. 74 % vacation home, 23 % investment property. 2 nd Home w/i 200 miles of primary resident. Source: National Association of Realtors

19. Demand for Rental Housing… Demand increase with echo boom and part of active adult population. Affordability restricting some households from buying, especially if interest rates increase. Tax credit primary housing program to address moderate income households. Reinvestment in urban areas –(Mark to Market, HOPE VI)

20. Senior Housing Demand is just starting to build. Evolution of rental housing from small tax credit projects to larger market rate rental units. Long term, more demand for integrated campus to serve seniors.

21. WWW.RPRG.Net