Where do the Millennials Live?

In a world where it’s more acceptable to delay marriage, kids, and buying a home, we ask ourselves what these millennials do instead of buying home. 20- to 30-years ago, it was the norm to get married in your early 20s and buy a house. The median age for first-time homeowners has gone up, last year recording that 32 was the median.

More and more millennials are sticking with parents while they save money or pay off student loan debt, which is ultimately keeping them from moving out. Only 15% of millennials stay home, but that has increased since the previous generations. The other 85% are either living alone or with roommates. So, where do millennials live alone and where do they live with their parents?

Realtor.com retrieved their data by analyzing the 2015 Census Bureau data on 18-to 34-year-olds in the largest metros. They added rental prices for one-bedroom apartments and their median home listing prices. So, out of the millennials that live in these areas, these are the percentages that live alone or with their parents.

Where Millennials Live Alone

1. Austin, TX

Percentage of millennials living alone: 11.2%
Median rent for a one-bedroom apartment:
$1,130
Median home list price:
$391,900

2. Omaha, NE

Percentage of millennials living alone: 10.4%
Median rent for a one-bedroom apartment:
$759
Median home list price:
$269,700

3. Milwaukee, WI

Percentage of millennials living alone: 10.4%
Median rent for a one-bedroom apartment:
$719
Median home list price:
$234,700

4. Pittsburgh, PA

Percentage of millennials living alone: 10.2%
Median rent for a one-bedroom apartment:
$743
Median home list price:
$175,000

5. Albany, NY

Percentage of millennials living alone: 10.1%
Median rent for a one-bedroom apartment:
$870
Median home list price:
$269,900

Where Millennials Live with Parents

1. McAllen, TX

Percentage of millennials living with parents: 51.8%
Median rent for a one-bedroom apartment:
$620
Median home list price:
$189,300

2. Oxnard, CA

Percentage of millennials living with parents: 45.8%
Median rent for a one-bedroom apartment:
$1,210
Median home list price:
$699,000

3. El Paso, TX

Percentage of millennials living with parents: 45.6%
Median rent for a one-bedroom apartment:
$681
Median home list price:
$166,700

4. Bridgeport, CT

Percentage of millennials living with parents: 45,2%
Median rent for a one-bedroom apartment:
$1,134
Median home list price:
$725,000

5. Miami, FL

Percentage of millennials living with parents: 44.8%
Median rent for a one-bedroom apartment:
$1,062
Median home list price:
$379,500

For more information about the percentages, the rent rates, or the housing prices, check out: http://www.realtor.com/news/trends/where-millennials-are-most-likely-to-live-alone-and-where-theyre-still-living-with-mom-and-dad/

 

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