Millennial households reached a traditionally excessive median earnings final yr of $108,000, up 44% from 2017 and the best improve amongst all generations, based on the report. The determine displays the mixed earnings of the millennial family homeowners.
The report additionally notes that many millennials delayed transferring out or moved again in with their mother and father through the pandemic, permitting them to save lots of for a down cost. Others acquired monetary assist from household, associates, employers or an help program: A 2022 ballot from information analytics agency YouGov discovered 51% of 30- to 44-year-old householders acquired monetary assist from their mother and father.
Although millennials have been capable of develop their internet price through the COVID-19 pandemic, the era additionally has confronted wage stagnation, faculty tuition prices which have elevated greater than 1,300% since 1978, and housing prices which have outpaced inflation – all of which has made shopping for a house with out help harder.
What share of millennials are householders?
RentCafe additionally created rankings primarily based on IPUMS information trying on the nation’s 110 largest metropolitans.
