Millennial Homeownership on the Rise Across Major US Cities

According to a study by RentCafe, in 2022, millennial homeowner households became a majority among the generation, at 51.5 percent. While millennials still own fewer homes than older generations do, over the past five years about seven million have joined the ranks, bringing the total to about 18 million. Gen Z made the smallest gains in homeownership over five years, just 1.6 million, for a total of about 2 million homeowner households. In some metros, an overwhelming majority of millennials are homeowners.