The homeownership rate in 2019 was around 64 percent in the United States, which a decrease from 2012 and 2013 when the rate hovered around 65 percent. A 2019 survey found that among all adult age groups, Millennials had the most pessimistic outlook about home purchases.
A 2017 survey showed that only 11 percent of younger Millennials and 29 percent of older Millennials owned their own home, most prefer to rent or live with friends or family. It was once considered a shameful thing for a grown man or woman to live with his or her parents, but in 2017 about 55 percent of adults aged 24 and under still lived with their parents, perhaps signaling a shift in what is considered normal and socially acceptable in America. Much of this could be attributed to rising college tuition and the vastly expanding student loan debt that has affected millions of young Americans. Some of the biggest obstacles for Millennials who wish to become homeowners are rising home prices and saving enough for a down payment.
This is not to say that Millennials are uninterested in becoming homeowners eventually. In 2017, over 80 percent of U.S. Millennials reported that they plan to eventually buy a home. In fact, nearly 50 percent of new home owners in cities such as Pittsburgh, Pennsylvania and Washington D.C. are Millennials.