Home Buying Report: Millennial Couple Edition
UPDATED: Nov 8, 2022
Rocket Homes® surveyed 500 millennials across the country who are currently in a relationship to find out about their home buying experiences and preferences:
Although 38% of millennials who are currently in a relationship chose their neighborhood because of its affordability, most had other reasons for being attracted to their residential area, including:
The majority of millennial couples worked with or plan to work with a real estate agent when purchasing their home.
74% of millennial couples have already purchased their first home. Most of them became homeowners over the course of their relationship:
The primary reason these homeowners gave for purchasing their home when they did included:
What type of property did they choose to call home?
22% of millennial couples have not purchased their first home yet. Among those who haven’t purchased a home, the primary reason is:
Their thoughts about purchasing a home primarily fell into the following categories:
*To determine the home buying preferences of millennial couples, Rocket Homes® surveyed 500 individuals aged 25 – 40 who are currently in a relationship. The millennial generation was defined as individuals born 1981 – 1996. The survey was conducted online February 8 – 10, 2021.
Rachel Burris
Rachel Burris is a writer covering topics of interest to present and future homeowners, as well as industry insiders. Prior to joining Rocket Companies, she worked as an English teacher for the New York City Department of Education and a licensed real estate agent for Brown Harris Stevens. She holds a bachelor's degree in creative writing from Bucknell University, a postbaccalaureate certificate in psychology from Columbia University and a master's degree in English education from Teachers College, Columbia University.
Related Resources
Housing Market - 8-Minute Read
May 31, 2023
Millennial Home Buying Statistics And Trends
Millennial home buying statistics suggest that millennial homeownership rates are on the rise despite a competitive housing market and financial obstacles.
Housing Market - 6-Minute Read
Carla Ayers - Jul 10, 2023
The Popularity Of The Home Office In Real Estate
Looking to sell your house? Consider listing a room as a potential home office. With more people working from home, more buyers are looking for a home office.
Home Buying - 3-Minute Read
Katie Ziraldo - May 19, 2023
Converted Barn Homes: Everything You Need To Know
Converted barn homes have seen a resurgence in popularity in recent years. Learn why home buyers are choosing converted barns, the renovation costs and more.