More than half of millennials now own homes, according to a recent study conducted by Rent Cafe.
Millennial homeowners now outnumber renters in their generation by nearly 52%. In 2022, there were 18.2 million millennial homeowners across 260 U.S. metropolitan areas, compared with 17.2 million renters. The largest share of millennial homeowners was found in Midland, Texas, followed by Provo, Utah.Rent Cafe used data from the Integrated Public Use Microdata Series , a part of the Institute for Social Research and Data Innovation at the University of Minnesota.
Millennials are no longer a younger generation without responsibility — some are now adults in their 30s and early 40s, ascending in their professional fields, experiencing major milestones including marriage, children, and home ownership.
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