There are four distinct categories of age groups in the US; baby boomers, Gen x and Millennials (Gen Y.2 and Geny.2) and Gen Z. Here is the breakdown as to how many there are in each group. As of 2019, the breakdown by age looks like this:
Additionally, there are another approximately 22 million Americans over the age of 75 who are parents of Boomers. This means there are currently more than 250 million Americans who are over the age of 25 years old. The average age of a first time home owner is 32 years old and there are 127.6 million homeowners. As of 2018 the National Association of Realtors stated the average homeowner moves every 13.3 years. (It actually is every 4 years once they get past 78 years old). The William C Huff Companies track each and every move it does since 1990. Our last year’s average local move costs were $3600 and with average of 2 people per household, this amounts to over $300 billion in moving costs over the next 26 years! Additionally, our records indicate that our clients’ will spend about 20% more for storage, which will add another $60 billion in storage revenue. Working with just 5% of the wealthier homeowners, it is anticipated that William C Huff a target market of about $18 billion over 26 years or, about $1.5 billion per year. Converting just 10% of this potential would net $150 million/year.
William C. Huff Companies is committed to simplifying the complicated maze of moving and storing your priceless possessions. With over 40 full-time, tenured, and highly trained staff, you can be assured that your move will be handled smoothly and professionally, from the first phone call until the last box is unpacked.