Pet ownership in the U.S. has risen dramatically, with 71% of households now owning a pet, contrasting with a decline in households with children. As birth rates fall, a significant shift in homebuying trends has occurred, with fewer families purchasing homes for children. The time Americans spend with pets has increased, and so has financial investment in pet care, reflecting a societal change where pets play a more central role in people's lives and home decisions, influencing preferences for neighborhoods with pet-friendly features.
Dogs and cats remain the most common household pets. These shifts are changing how people choose their homes.
The trend is reflected in homebuying statistics: in 1985, 58% of homebuyers had children under 18, while in 2024, that number plummeted to 27%.
The average time spent with pets has increased from 0.62 hours in 2003 to 0.73 hours in 2023, showcasing people's commitment to their animals.
Pet industry spending in the U.S. surged from $53.3 billion in 2012 to $152 billion in 2024, indicating a growing investment in pet care.
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