Page 20 - Builder Brief May 2023 Issue

MARKET TRENDS
30 PERCENT OF ADULTS WORK FROM HOME
AT LEAST TWO DAYS A WEEK
Mostly Men Earning Incomes over $100,000 per year
Originally Published on NAHBNow.com
Findings from a recent national poll* that reveal 30 percent of American adults typically work from home at least two days a week could offer clues to the long-term financial health and value of commercial office space in the United States. How this share evolves over time, whether it drops due to employers tightening work-from-home policies or it grows due to more employees earning the benefit not to commute five days a week, will factor into the future office market outlook across the nation.
This post presents a snapshot in time of the demographic characteristics of adults working from home at least twice a week in March 2023.
The three characteristics that make the least amount of difference when it comes to working from home are employment sector, housing tenure and gender. For example, 45 percent of government workers report being able to work from home at least twice a week, not significantly different from the 41 percent in the private sector. Similarly,tenuremakeslittledifference:33percent of home owners can work from home this frequently, compared to 28 percent of renters. And though gender is somewhat more significant, the gap is still below 10 percentage points, as 35 percent of men report being able to work from home at least two days a week, compared to 26 percent of women.
In contrast, the three demographic characteristics that make the biggest difference are generation, income and education level. While 45 percent of millennials, 35 percent of Gen Zers, and 31 percent of Gen Xers can work from home at least twice a week, the share is only 15 percent among boomers. And not surprisingly, the ability to spend less time commuting to work is positively correlated with income and education level. Among adults with annual incomes below $50,000, only 22 percent can work from home at least twice a week, compared to 33 percent for those earning $50,000 to $100,000, and 46 percent for those whose incomes exceed $100,000. Education has a similar effect: 25 percent of adults with less than a college education reported typically working from home at least two days a week, compared to 39 percent among those with a bachelor’s degree, and 44 percent among those with a graduate degree.
Government Private Sector
Own Rent
Male Female
Gen Z (1997 - 2005) Millennial (1981 - 1996) Gen X (1965 - 1980) Boomer (1946 - 1964)
Under $50k $50k - $100k Over $100k
< College Bachelors Degree Graduate Degree
Source: Morning Consult Poll, March 16-21, 2023
45 percent 41 percent
33 percent 28 percent
35 percent 26 percent
35 percent 45 percent 31 percent 15 percent
22 percent 33 percent 46 percent
25 percent 39 percent 46 percent
Employment
Tenure
Gender
Generation
Income Level
Education Level
20 MAY 2023 | GREATER SAN ANTONIO BUILDERS ASSOCIATION