Full Citation
Title: Millennials Make Historic Switch From Renter-Majority to Homeowner-Majority Generation
Citation Type: Miscellaneous
Publication Year: 2023
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Abstract: With 52% of Millennials owning a home, the largest generation in the nation transitioned from renter-majority to owner-majority in 2022. The number of Millennial homeowners increased by 7 million in the last five years, more than triple the number added by Gen X, who came in second. Millennials remained the dominant renter generation, with 17.2 million renter households. Gen Z is now the only renter-majority generation with a 74% share and 4.5 million renters added in the last five years, more than any other age group. Of the nation’s top 50 largest metros, Richmond, VA, saw the highest jump in Millennial owners — 234%.
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Authors: Both, Alexandra
Publisher: RentCafe
Data Collections: IPUMS CPS
Topics: Housing and Segregation
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