Hispanic consumers are young, vibrant and growing. The Hispanic population has reached 58 million in the U.S. and is projected to grow to 129 million by 2060. Finding and reaching these valuable consumers for research is more important than ever.

Through a new partnership with SABEResPODER, Branded Research has access to a unique mobile-first research platform for Hispanics. Together, we have embarked on new research examining the pursuit of the American Dream for Hispanic consumers.

Our research found that Hispanics are embracing the American Dream and making it a reality. The American Dream for Hispanic consumers is a mix of traditional elements like homeownership and focus on family with key deviations like skepticism of traditional financial institutions.

Family is the central hub of life for Hispanic consumers. The vast majority of Hispanic consumers spend time with their families every day – eating, watching television and celebrating holidays together. Despite spending frequent time with extended family, the traditional nuclear family structure is seen as the ideal family structure.

While about half of U.S. Hispanics as a whole live in a nuclear family, the majority of Hispanic children live in two-parent households. Family is not only the center of life but a driving source of inspiration. About 1 in 3 Hispanics say their families motivate them to achieve their goals.

Homeownership is still a major component of the American Dream for Hispanic consumers. And Hispanic consumers are making this dream a reality. Hispanics are the only group to have increased their rate of homeownership over the last 3 consecutive years.

About 1 in 2 Hispanic consumers are renters living in a mix of apartments and single-family homes. However, the majority of renters aspire to own a home, with single-family homes as the preferred home type. Homes have emotional meaning to Hispanic consumers. Home represents a safe and secure space for their families. The traditional draw of the suburbs isn’t part of the American Dream for Hispanics. Most Hispanic consumers live in urban areas and want to continue living in their current neighborhoods in the future.

 

Download our white paper to discover more insights on Hispanic consumers.