US population projected to grow 2.1% between 2023 and 2028

The U.S. population is expected to reach 334.5 million in 2023 and grow 2.1% to 341.7 million by 2028, according to data from Claritas Pop-Facts 2023.

The fastest-growing demographic in the next five years is still expected to be people above 65 years of age; that will represent 20.0% of the total U.S. population by 2028, compared to 17.9% in 2023. The under-35 segment is anticipated to drop to 43% in 2028 from 44.5% in 2023.

Idaho's population is projected to rise 5.8% over the next half-decade, the fastest growth rate among all U.S. states. Four states are expected to have declines in population: New York, Mississippi, Illinois and West Virginia.

The Florida counties of St. Johns and Walton are the top two counties in the U.S. by projected population growth between 2023 and 2028 at 13.7% and 12.2%, respectively.

Maine is expected to be the oldest state in 2028 with an average age of 45.0 years, while Utah is projected to be the youngest state with an average age of 35.9 years.

The median household income in the U.S. is expected to increase 13.4% to $83,333 in 2028 from $73,503 in 2023. Forty-five U.S. states are projected to record double-digit percentage increases in median household incomes.

The median household income in Arizona is anticipated to rise 16.9% to $83,508 over the next five years, the largest percentage increase of any state. Alaska is expected to have the lowest growth at 7.6%.

Washington, D.C., is projected to have the country's highest median household income of $104,110 in 2023 and $118,843 in 2028.

The county expected to see the highest projected growth in median household income over the next five years is Valencia, N.M., at 26.4%.