U.S. Millennial Homeownership - Statistics & Facts

Published by Jennifer Rudden, Aug 2, 2019
If one were to picture what the American dream means to most Americans, some of the obvious elements include a successful career, a happy family, and of course, homeownership. The idea of homeownership as a symbol of success is so deeply ingrained in American culture that it is hardly ever questioned. However, in recent years this has shown signs of changing. Statistics have shown that Millennials, often defined as adults under the age of 35 years, are not buying homes as frequently as their parents or grandparents.

The homeownership rate in 2019 was around 64 percent in the United States, which a decrease from 2012 and 2013 when the rate hovered around 65 percent. A 2019 survey found that among all adult age groups, Millennials had the most pessimistic outlook about home purchases.

A 2017 survey showed that only 11 percent of younger Millennials and 29 percent of older Millennials owned their own home, most prefer to rent or live with friends or family. It was once considered a shameful thing for a grown man or woman to live with his or her parents, but in 2017 about 55 percent of adults aged 24 and under still lived with their parents, perhaps signaling a shift in what is considered normal and socially acceptable in America. Much of this could be attributed to rising college tuition and the vastly expanding student loan debt that has affected millions of young Americans. Some of the biggest obstacles for Millennials who wish to become homeowners are rising home prices and saving enough for a down payment.

This is not to say that Millennials are uninterested in becoming homeowners eventually. In 2017, over 80 percent of U.S. Millennials reported that they plan to eventually buy a home. In fact, nearly 50 percent of new home owners in cities such as Pittsburgh, Pennsylvania and Washington D.C. are Millennials.

Interesting statistics

In the following 5 chapters, you will quickly find the 28 most important statistics relating to "Millennial homeownership in the U.S.".

Millennial homeownership in the United States

Dossier on the topic

All important statistics are prepared by our experts – available for direct download as PPT & PDF!
TOP SELLER

Important key figures

The most important key figures provide you with a compact summary of the topic of "Millennial homeownership in the U.S." and take you straight to the corresponding statistics.

Current living arrangements

Homeownership

Effect of student debt

Most important home features

Infographics on the topic

Millennial homeownership in the U.S. Infographic - The Trending Millennial Hot-Spots of the U.S.

Any more questions?

Any more questions?

Get in touch with us quickly and easily.
We are happy to help!

Get in touch with us quickly and easily.
We are happy to help!

Do you still have questions?

Feel free to contact us anytime using our contact form or visit our FAQ page.