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Millennial Migration: Housing for the Renter Generation

7/23/2019

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Millennials (born 1981 to 1997) are renting far more than prior generations.  In this article, we explore why and understand if it is by necessity or by choice. Millennials are the largest generation in U.S. history, at approximately 79 million strong — surpassing Baby Boomers by about 4 million.  Millennials (also known as Gen-Y) ​comprise 50% of all renters in the U.S., and are 8% less likely to own homes (when aged between 25 and 34yrs old) when compared to Gen-X and Baby Boomers at a similar age.   The median age of today's renter is 32 with a median household income of $37,500, and most (60%) make less than $50,000.  By comparison, 57 is the median age of today’s homeowner​ who have a median household income of $62,500.

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    Author:
    ​Tom Carroll

    Tom is the founding principal of Ballast Rock. 
    ​
    Prior to becoming a real estate professional, Tom had a 14yr career on Wall Street, most recently as a desk head at Goldman Sachs & Co. ​

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The information contained on the Ballastrock.com web site has been prepared by Ballast Rock Holdings LLC (“Ballast Rock”) without reference to any particular user’s investment requirements or financial situation. Potential investors are encouraged to consult with professional tax, legal, and financial advisors before making any investment into a private offering of securities.  An investment in private securities would be speculative and would involve a high degree of risk. Investors must be prepared to bear the economic risk of such an investment for an indefinite period of time and be able to withstand a total loss of their investment. Please consider carefully the investment objectives, risks, transaction costs, and other expenses related to an investment prior to deciding to invest.  All private placements of securities and other broker dealer activities are currently offered through a partnership with Independent Brokerage Solutions LLC MEMBER: FINRA / SIPC (“IndeBrokers”), which is located at 485 Madison Avenue 15th Floor New York, NY 10022. (212) 751-4424. Ballast Rock Holdings LLC and its affiliates are independent and unaffiliated with IndeBrokers. Any securities transactions or related activities offered by Ballast Rock associated persons are conducted in their capacities as registered representatives of IndeBrokers. To check the background of IndeBrokers and its representatives, visit FINRA’s BrokerCheck. Please see our Form CRS.
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