Currently Reading

9 Trends Facing the Millennial Homebuyer


9 Trends Facing the Millennial Homebuyer

June 17, 2019
young person at home
Photo: Unsplash/Cooking in Color

The housing market looks a lot different for Millennials than it did for their parents and grandparents. Business Insider takes a look at the trends facing young homebuyers.

Millennials face house prices 39% higher than their parents did in the 1980s

Housing prices have soared by nearly 40% in the past three-plus decades, far outpacing wage increases and making homeownership much more of a challenge for today's buyers. The increase is even more dramatic the further back you look: Today's average home price is more than 70% higher than what a buyer faced in the 1960s.

Rent prices are up nearly 50% over the last half century

While traditionally renting an apartment or house while saving up to buy your own residence was once a logical approach, since the 1960s, average rent rates have increased by 46%, meaning just affording a rental is harder than ever, let alone saving up to buy.

In some markets, homes built before 2012 are selling at close to 50% discounts because they're too big and spacious for millennials

Most millennial homebuyers are looking for smaller, more manageable properties than the mini mansions so popular a generation before. And they like sleek, simple interiors. The result is a steep drop in the value of many of the homes baby boomers are now hoping to sell as they downsize after emptying the nest or retiring.

Read more


Related Stories


What Could Happen to California Housing After the Pandemic?

After wide spread vaccinations and herd immunity take hold, then what? 

Market Data + Trends

Pandemic Spurs Acceleration in Multigenerational Living Trends

Once the pandemic reared its ugly head, some families who were in the midst of planning housing for their aging relatives had to reevaluate. With…


Millennials Lead in Home Service Projects and Spending

Being cooped up at home pushed Americans to spend more on home improvement projects this year instead of entertainment or travel. The National…


More in Category


Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.

Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.