The Woodlands Township and Shenandoah both saw higher population growth since 2018, according to new U.S. Census Bureau data released Dec. 12, and alongside the growth has come a higher demand for renting over homeownership in the area.

The big picture

The U.S. Census Bureau released the results of its latest 5-year American Community Survey on Dec. 12, which shows changes over a five-year period to demographics in a region. While The Woodlands and Shenandoah both saw a greater population increase over previous years, Oak Ridge North's population numbers shrank to 2013 levels after experiencing an initial growth in 2018.

Despite the population changes, the Shenandoah area still has the oldest average population over both The Woodlands and Oak Ridge North, which have median ages in the early 40s.Diving in deeper

The number of residents who rent instead of owning a home has also increased in Shenandoah and The Woodlands. This comes as both areas look to expand their multifamily offerings with investments such as The Ritz-Carlton Residences in The Woodlands.What else?

While census data shows The Woodlands is the most racially diverse area in southern Montgomery County, the city of Shenandoah had a shift in its demographics from 2018 to 2015 including the:

• Hispanic or Latino population growing from 4.8% to 19.1%
• Asian population growing from 6.4% to 9.2%
• White population shrinking from 84.9% to 69.6%