The U.S. population is expected to hit 330.3 million in 2020 and grow 3.3% to 341.1 million by 2025, according to Claritas Pop-Facts 2019. The fastest-growing segment of the population will be those over age 65, which will account for 18.7% of the populace in 2025, compared to 16.6% in 2020.

Utah's population is expected to increase by 7.2% over the next five years, the highest growth rate of any state. On the other end of the spectrum, three states — West Virginia, Illinois and Connecticut —are expected to see population declines.

Utah is also expected to remain the youngest state in the nation, with an average age of 35.1 years in 2025, while Maine is expected to remain the oldest with an average age of 44.3 years.

Median household income in the U.S. is expected to hit $72,525 in 2025, up from $66,010 in 2020, with 28 states and Washington, D.C., expected to post double-digit gains.

In addition, the state of Washington's median household income is projected to rise by 14.7% to $89,863 between 2020 and 2025, the largest percentage increase of any state or territory, followed by California, which is likely to see a rise of 14.1% in its median household income.

Washington, D.C., which is expected to have the nation's highest median household income of $90,695 in 2020, will see its median household income grow by almost 12.8% by 2025, making it the only state or territory with a median household income above $100,000 in 2025.