Feb 6, 2024 - News
Nearly 16% of Houston millennials live at home
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15.7% of Houston's millennials lived with their parents in 2022, according to the latest census figures.
- Nationally, that number was 15.8%.
Why it matters: Younger people are increasingly struggling to swing high housing costs and are returning to their childhood bedrooms.
- The number of Americans aged 25-34 living at home has jumped more than 87% in the past two decades, according to U.S. Census Bureau data.
What's happening: Younger generations may be staying home to save on expenses like rent or a future down payment, says Adina Dragos, research analyst at RentCafe, an apartment search website.
- More young adults could also be choosing to care for family members, Dragos tells Axios.
Reality check: Plunging affordability hasn't stopped some millennials (those aged 27-42) from buying homes, often with family help.
- Nationally, nearly 55% of millennials owned a home in 2023, up from 52% in 2022, according to a new Redfin report.
- Meanwhile, the homeownership rate of adult Gen Zers (those aged 19-26) stagnated at just over 26%.