Sacramento-area millennials, more specifically, millennials who live in Elk Grove, are buying houses more often than renting homes or apartments. More than half, actually, as in 61% of them.
The Census Bureau released the info, and found within it was the fact that, in the United States as a whole, only 35% of millennials own a home, but in Elk Grove, CA, right down the road here, 61% of them do.
There’s no clear date-range for when Millennials stopped being born, but let’s just call it between 1981 to 1997 (says BuzzFeed). That would make the youngest millennials 20, likely in college, so probably not living at home. On the older range, they’re 36 this year, so it makes sense that more “millennials” are owning homes – they’re just older, likely have “professional” careers, and probably are starting families, too. That’s not in the research, just our assumption.
All that aside though, it’s still really cool that 61% of millennials in Elk Grove, who don’t live at home, actually own their own place. Times are changing!