Population Growth Recovers
According to the latest estimates from the U.S. Census Bureau, the U.S. population grew by 1,643,484 people, reaching a total of 334,914,895 residents. The growth rate for 2023 hit 0.49%, the highest level since the pandemic. This rate is slightly above the growth rate of 0.46% in 2019, and just under 2018’s rate of 0.53%, signaling a return to pre-pandemic population growth patterns.
The Role of International Migration
A key contributor to this population increase was net international migration. In 2023, net international migration was approximately 1.14 million, continuing a trend that started in 2022, when it reached 999,267. These figures represent a return to pre-pandemic migration levels, reflecting global mobility recovery as borders have reopened and international movement stabilized.
Natural Births Boost Population Growth
Natural births, defined as the number of births minus deaths, also contributed significantly to the population increase. In 2023, this factor added 504,495 people to the population, a sharp increase of 126% compared to 2022. This rise in positive natural births comes amid an 8.9% drop in the number of deaths, though births themselves decreased slightly by 0.7%.
Regional and State-Level Growth
Regionally, the U.S. experienced uneven population growth. The Northeast region saw a slight population decrease of 0.08%, while the South region led with the highest growth at 1.11%. The Midwest saw modest growth at 0.18%, and the West grew by 0.17%.
At the state level, 42 states and the District of Columbia saw population increases, the highest number since the pandemic began. South Carolina led with a 1.71% increase, followed closely by Florida (1.64%) and Texas (1.58%). Texas, with a population increase of 473,453 people, had the largest numeric growth, followed by Florida with 365,205 new residents, North Carolina with 139,526, and Georgia with 111,077.
Declining Populations in Some States
Despite these growth trends, some states experienced population declines. New York saw the steepest decline, with a 0.52% decrease, marking the third consecutive year of population loss. Other states with significant declines included Louisiana (down 0.31%) and Hawaii (down 0.30%). California, despite a population decline of 75,423, remains the most populous state with a total population of 39,040,616. Texas follows with 30,503,301 residents, while Florida, New York, and Pennsylvania round out the top five states by population.
Implications for Housing
This population growth suggests potential demand for housing in the coming years. Builders and investors might consider aligning their construction strategies with the growing population, especially in states like South Carolina, Texas, and Florida, which are seeing substantial increases. As migration patterns continue to stabilize and the U.S. recovers from the pandemic, there may be rising opportunities for real estate development to meet the housing needs of this growing population.