SEOUL, Oct. 20 (Korea Bizwire) — The number of households in the capital city of Seoul is expected to gradually decrease starting in 2030, data showed Thursday, as more people move to other areas in search of affordable housing.
According to the estimate by Statistics Korea, the number of households in Seoul, which came to 3.95 million in 2020, is expected to grow through 2029 and reach a peak of 4.12 million.
Starting in 2030, however, the number is expected to lose ground, eventually reaching 3.79 million in 2050, it added.
The number of households in Gyeonggi Province that surrounds Seoul is expected to top out at 6.8 million in 2044, compared with 5 million in 2020.
The southeastern port city of Busan and Gwangju, 268 kilometers south of Seoul, are set to see their number of households peak in 2028 and 2034, respectively.
Only the central city of Sejong is anticipated to maintain growth in the number of households beyond 2050, the agency added.
The average number of members per household in the country was estimated at 2.37 in 2020 but is expected to reach 1.91 in 2050 amid the country’s chronically low birthrate.
The total number of households in the country, which came to 20.7 million in 2020, is set to reach its highest point of 23.87 million in 2039 before falling to 22.85 million in 2050, the data also showed.