Millennials Leaving the Nest

From During the downturn, an unprecedented share of young adults did choose to live with their
parents rather than strike out on their own, hindering household formation and economic
activity. As economic prospects improve, however, Millennials will emerge from their parents’
basements. Today, there are just 13.3 million households headed by Millennials, but this
number will swell to 21.6 million by 2018, and they will spend more than $2 trillion on rent and
home purchases combined – more on a per-household basis than any other “generation”
over the next five years.

“The Millennials and Their Homes: Still Seeking the American Dream,” is based on 18 months of research including interviews with 10,000 U.S. consumers, of whom more than 1,000 were millennials, and an analysis of housing market data from 2,200 U.S. cities and towns. It found that contrary to popular belief most millennials–born between the early 1980s and the early 2000s–nurture the traditional aspiration of purchasing a home and living in the suburbs.

Click below to access the report from The Demand Institute in a PDF format: