Real Estate
Half of Millennials Own Homes. The Rest Fear They Never Will
About 25% of millennial renters have given up on the idea of homeownership, and two thirds of those who want to own haven’t saved up for a down payment, according to new survey data.
Prospective buyers attend an open house in Larchmont, New York.
Photographer: Tiffany Hagler-Geard/BloombergThis article is for subscribers only.
For the first time, more than half of millennials own a home. The rest are finding it increasingly out of reach.
The millennial homeownership rate hit 51.5% in 2022, US Census data show. It’s been a slog to get there for the generation that came of age during the financial crisis — by age 30, 42% of millennials owned their homes compared to 48% of Gen X and more than half of baby boomers.