Millennial housing report: Where they’re buying homes and where they’re still renting

Alexandra Both-July 15, 2026

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There’s more to Millennials than brunches and air fryers. In recent years, many have decided to settle down and buy homes. In fact, approximately 5.3 million Millennials became homeowners in just five years, which marks a 74% increase in Millennial-owned households. At the same time, the number of Millennial renters in the U.S. rose by a modest 5%, adding approximately 600,000 households. This brings the total number of Millennial homeowner households to 12.4 million, close to the 12.6 million Millennial renter households.

To better understand Millennial renting and owning trends across the U.S., we analyzed 107 metro areas with the largest Millennial household populations, highlighting those with the most significant gains in owning and renting.

Key takeaways:

Millennial homeownership increased by 74% in five years.
The top 20 metro areas with the greatest increases in Millennial homeownership are led by sunny regions in Florida and California. Unexpected urban hubs such as Dallas, San Antonio, Philadelphia, and New York also made the list with ownership growth rates reaching 90% or higher.
The number of Millennial renters also grew, albeit by a modest 5% over five years, to reach a total of 12.6 million households.
Florida stands out for the most significant gains in Millennial renters, with Orlando experiencing a 34% increase.
The highest concentrations of Millennial renters remain in coastal powerhouses such as Los Angeles; San Jose, CA; New York; and San Francisco, where soaring home prices and limited housing supply continue to outpace even strong income growth.

Millennials owning and renting

7.13M 2018

12.41M 2023

74% growth Owners

11.95M 2018

12.57M 2023

5.1% growth Renters

Source: RentCafe’s analysis of IPUMS data • All data is accurate as of the date of publication.

Where are Millennials buying or renting?

After first crossing the homeowner-majority threshold three years ago, Millennials (also known as Gen Y) now clearly show a preference for certain homebuying hotspots. Specifically, sunny metro areas in Florida and California top the list of regions with the most significant increases in Millennial homeownership, led by North Port, FL, where the number of Millennial homeowners nearly tripled.

Interestingly, major urban hubs, like San Antonio and Miami, also made the top 20, each experiencing a twofold increase in Millennial homeowners in just five years. Meanwhile, New York stands out with a remarkable 90% surge in Millennial homeownership in the same period.

The number of Gen Y renters is also growing, but at a much slower pace. In this case, Orlando, FL, experienced the largest rise in Millennial renters during this timeframe, while California’s Los Angeles, San Jose and Oxnard also ranked among the metro areas with the most significant increases.

Overall, in about three out of four metro areas (83 of the 107 metro areas included in this report), there are more Millennial homeowners than renters.

The areas with the highest shares of Millennial homeowners typically feature strong income growth for this generation’s workers (up to 52% across five years) and manageable local price growth, which remained below the 20% threshold. To that end, Grand Rapids, MI — along with Ogden and Provo in Utah — top the list, with Millennial homeownership rates ranging from 67% to 69%.

Why did Florida and California see the highest gains in Millennial homeowners?

The areas that saw the most significant increases in Millennials buying homes are medium or small-sized metro areas in Florida and California. What do all of these places have in common? More affordable home prices, manageable inflation, strong income growth and a higher quality of life.

Additionally, these smaller metros have benefitted from the pandemic-driven migration patterns in which Millennials moved away from dense, costly major cities driven by remote work opportunities and the need for more physical space.

First on the list is North Port, FL, where the number of Millennials who bought a home nearly tripled between in five years. Located on Florida’s west coast, the North Port–Sarasota–Bradenton metro continues to attract new residents seeking a higher quality of life, ranking among the fastest-growing areas in the U.S.

Next is Lakeland, FL, which saw a 141% increase in Millennial homeowners. Its prime location — offering easy access to both Orlando and Tampa — is one of the key factors behind the shift. By 2023, the metro area had more Millennials who owned homes than rented, a reversal of the situation in 2018.

Where more Millennials are buying

	Metro area	Millennial owner households in 2023	Millennial owner households in 2018	5-year change
1	North Port, FL	35,144	13,212	166%
2	Lakeland, FL	47,972	19,929	140.7%
3	Jacksonville, FL	105,156	46,556	125.9%
4	Stockton, CA	37,711	17,333	117.6%
5	Oxnard, CA	29,607	13,840	113.9%
6	Palm Bay, FL	32,530	15,352	111.9%
7	Austin, TX	176,981	83,918	110.9%
8	Tucson, AZ	56,782	27,179	108.9%
9	Deltona, FL	36,715	17,612	108.5%
10	San Antonio, TX	153,099	74,379	105.8%
11	Youngstown, OH	32,358	15,861	104%
12	Fresno, CA	49,742	24,384	104%
13	Orlando, FL	143,705	72,744	97.6%
14	Miami, FL	248,583	125,886	97.5%
15	Dallas, TX	451,826	229,497	96.9%
16	El Paso, TX	47,397	24,274	95.3%
17	Philadelphia, PA	385,854	201,239	91.7%
18	Richmond, VA	86,459	45,578	89.7%
19	New York, NY	762,654	402,985	89.3%
20	San Diego, CA	130,700	69,203	88.9%
21	Colorado Springs, CO	60,757	32,244	88.4%
22	Bakersfield, CA	47,744	25,394	88%
23	San Francisco, CA	193,905	103,353	87.6%
24	Bridgeport, CT	42,888	22,912	87.2%
25	Tampa, FL	169,987	90,945	86.9%
26	Cape Coral, FL	32,613	17,462	86.8%
27	Providence, RI	90,717	48,909	85.5%
28	Washington, DC	365,182	197,450	84.9%
29	Houston, TX	418,698	227,365	84.2%
30	New Haven, CT	39,849	21,896	82%
31	Scranton, PA	25,471	14,108	80.5%
32	Charlotte, NC	173,078	96,145	80%
33	Worcester, MA	54,789	30,440	80%
34	Springfield, MA	28,376	15,799	79.6%
35	Sacramento, CA	124,760	69,517	79.5%
36	Phoenix, AZ	289,450	161,670	79%
37	McAllen, TX	44,787	25,111	78.4%
38	Atlanta, GA	367,436	207,060	77.5%
39	Virginia Beach, VA	107,120	60,367	77.4%
40	New Orleans, LA	73,249	41,399	76.9%
41	Huntsville, AL	34,771	19,659	76.9%
42	Harrisburg, PA	36,245	20,586	76.1%
43	Portland, OR	155,484	88,412	75.9%
44	Boston, MA	259,828	147,898	75.7%
45	San Jose, CA	72,427	41,599	74.1%
46	Winston, NC	34,515	19,845	73.9%
47	Los Angeles, CA	387,212	223,118	73.5%
48	Charleston, SC	57,528	33,154	73.5%
49	Raleigh, NC	104,914	60,663	72.9%
50	Riverside, CA	224,110	129,714	72.8%
51	Albany, NY	50,364	29,168	72.7%
52	Provo, UT	51,912	30,067	72.7%
53	Pensacola, FL	32,853	19,172	71.4%
54	Columbia, SC	54,029	31,554	71.2%
55	Augusta, GA	30,741	17,962	71.1%
56	Allentown, PA	46,983	27,474	71%
57	Memphis, TN	60,430	35,427	70.6%
58	Indianapolis, IN	153,489	90,530	69.5%
59	Corpus Christi, TX	26,033	15,425	68.8%
60	Chattanooga, TN	33,698	19,969	68.8%
61	Albuquerque, NM	58,200	34,535	68.5%
62	Boise City, ID	56,992	33,856	68.3%
63	Birmingham, AL	73,653	43,794	68.2%
64	Detroit, MI	285,925	170,149	68%
65	Baltimore, MD	173,454	103,650	67.3%
66	Columbus, OH	127,520	76,477	66.7%
67	Seattle, WA	258,105	155,635	65.8%
68	Buffalo, NY	72,004	43,471	65.6%
69	Cincinnati, OH	144,755	87,795	64.9%
70	Nashville, TN	150,496	91,323	64.8%
71	Denver, CO	215,393	131,069	64.3%
72	Greensboro, NC	43,031	26,205	64.2%
73	Kansas City, MO	155,117	94,487	64.2%
74	Syracuse, NY	38,743	23,666	63.7%
75	Greenville, SC	67,968	41,895	62.2%
76	Fayetteville, AR	36,048	22,288	61.7%
77	Salt Lake City, UT	94,194	58,420	61.2%
78	Dayton, OH	49,385	30,649	61.1%
79	Lancaster, PA	34,784	21,642	60.7%
80	Chicago, IL	551,013	345,229	59.6%
81	Las Vegas, NV	111,124	69,715	59.4%
82	Minneapolis, MN	279,750	175,623	59.3%
83	Rochester, NY	66,888	42,197	58.5%
84	St. Louis, MO	196,595	124,225	58.3%
85	Reno, NV	27,494	17,390	58.1%
86	Spokane, WA	39,436	24,974	57.9%
87	Ogden, UT	47,374	30,071	57.5%
88	Modesto, CA	25,483	16,429	55.1%
89	Little Rock, AR	45,748	29,833	53.3%
90	Louisville, KY	86,628	56,587	53.1%
91	Hartford, CT	65,940	43,227	52.5%
92	Cleveland, OH	112,017	73,629	52.1%
93	Wichita, KS	40,806	26,873	51.8%
94	Asheville, NC	27,831	18,344	51.7%
95	Omaha, NE	76,797	51,184	50%
96	Portland, ME	35,993	24,030	49.8%
97	Pittsburgh, PA	149,879	100,419	49.3%
98	Akron, OH	41,438	27,898	48.5%
99	Milwaukee, WI	91,699	62,163	47.5%
100	Baton Rouge, LA	59,536	41,196	44.5%
101	Knoxville, TN	52,975	37,009	43.1%
102	Grand Rapids, MI	73,080	51,860	40.9%
103	Lafayette, LA	33,005	24,228	36.2%
104	Jackson, MS	30,727	22,709	35.3%
105	Oklahoma City, OK	86,359	66,910	29.1%
106	Toledo, OH	31,361	25,116	24.9%
107	Des Moines, IA	48,979	43,175	13.4%

Source: RentCafe’s analysis of IPUMS data • All data is accurate as of the date of publication.

In third place is Jacksonville, FL, where the number of Millennial households more than doubled in five years. Plus, Millennial income growth here was well above local inflation, helping Jacksonville cross the threshold of 100,000 Millennial homeowners.

Interestingly, large metro areas — like San Antonio, Miami, Philadelphia and New York — also made the list with Millennial homeownership growth rates ranging from 89% to 106%. Here, too, the diversity of job opportunities as well as healthy income gains for Millennials and manageable local price increases have made it possible and worthwhile for Millennials to buy homes, even if outside of the city cores. In fact, access to a variety of neighborhoods with different price points has helped Millennials to settle down in these areas.

For California, the growth can be explained by the fact that homeownership is now on the rise among the older members of the generation. Many younger Millennials had previously delayed buying a home due to student debt and high costs, but now they’re finding options that fit their budgets in a handful of affordable oases, like Stockton and Fresno, where housing costs are below the state average.

Veronica Grecu Senior Writer & Research Analyst at RentCafe.com

Moreover, local governments in these areas offer financial support to encourage homeownership. For instance, Philadelphia offers grants to help first-time homebuyers with the down payment, in addition to tax abatements for new construction and extensive renovations, which encourages the purchase of older homes.

Similarly, Miami and San Antonio also offer assistance to first-time homebuyers for the down payment, as well as support through various neighborhood and community initiatives.

Top locations for Millennial homeowners

Millennials found homeownership success in smaller metro areas across Utah and the Midwest thanks to a combination of favorable factors, including more affordable prices. The highest concentrations of Millennial homeowners are in small and mid-sized metro areas, led by Grand Rapids, MI, where more than two-thirds of Millennials own a home.

Close behind is Ogden, UT, with a similar share, while Provo, UT — ranking third — boasts a 67% homeownership rate among Gen Y residents. Not far behind are Minneapolis; Boise, ID; and Detroit, where six out of 10 Millennials are homeowners.

Top 20 metros with largest shares of
Millennial homeowners

	Metro area	Share of Millennial owners in 2023
1	Grand Rapids, MI	68.5%
2	Ogden, UT	68.3%
3	Provo, UT	67.2%
4	Lancaster, PA	62.9%
5	Minneapolis, MN	62.6%
6	Baton Rouge, LA	62.6%
7	Boise City, ID	62.1%
8	Des Moines, IA	62.1%
9	Detroit, MI	62.1%
10	Pensacola, FL	61.9%
11	Lafayette, LA	60.9%
12	Omaha, NE	60.9%
13	Huntsville, AL	60.9%
14	St. Louis, MO	60.3%
15	Deltona, FL	59.8%
16	Louisville, KY	59.7%
17	Greenville, SC	59.4%
18	Palm Bay, FL	59.4%
19	Columbia, SC	59.4%
20	Knoxville, TN	59.2%

Source: RentCafe's analysis of IPUMS data • All data is accurate as of the date of publication.

All of these destinations combine healthy income growth for Millennials, local inflation below 20% and strong employment, thereby enabling young households to swap rent checks for mortgage payments years earlier than the national average.

Millennial rentership keeps growing, with Florida leading the way

While Millennial homeownership saw solid gains, this generation’s rentership also increased. More precisely, the number of Gen Y renter households rose by 5% to claim more than 12.6 million. Zooming in, the top metro areas for Millennial rentership growth are all in Florida. Leading the way is Orlando with a 34% increase in five years. It's followed by Lakeland (33%), Cape Coral (27%), Palm Bay (27%) and Miami (27%).

Where more Millennials are renting

	Metro area	Share of Millennial renters in 2023	Millennial renter households in 2023	Millennial renter households in 2018	5-year change
1	Orlando, FL	54.8%	174,506	129,807	34.4%
2	Lakeland, FL	41.6%	34,121	25,714	32.7%
3	Cape Coral, FL	45.5%	27,222	21,438	27%
4	Palm Bay, FL	40.6%	22,221	17,508	26.9%
5	Miami, FL	55.6%	324,316	255,816	26.8%
6	McAllen, TX	46.3%	38,593	31,005	24.5%
7	Austin, TX	53.3%	201,655	163,855	23.1%
8	Allentown, PA	50.9%	38,416	31,320	22.7%
9	Bridgeport, CT	50.9%	44,531	37,100	20%
10	Portland, ME	42.4%	26,456	22,071	19.9%
11	New York, NY	63.6%	1,332,212	1,113,635	19.6%
12	New Haven, CT	56.3%	51,290	43,465	18%
13	Los Angeles, CA	70.1%	906,663	771,288	17.6%
14	San Jose, CA	65.8%	139,072	118,794	17.1%
15	North Port, FL	45.4%	29,196	25,295	15.4%
16	Oxnard, CA	56%	37,737	32,721	15.3%
17	Riverside, CA	46.6%	195,734	171,858	13.9%
18	Worcester, MA	44.6%	44,067	39,098	12.7%
19	Charlotte, NC	44%	153,722	138,375	11.1%
20	Richmond, VA	45.9%	73,352	66,154	10.9%
21	San Francisco, CA	62.4%	321,244	290,529	10.6%
22	Houston, TX	51.2%	439,371	397,410	10.6%
23	San Diego, CA	64.4%	236,224	215,507	9.6%
24	Jacksonville, FL	47.3%	94,336	86,165	9.5%
25	Columbus, OH	52.2%	139,252	127,416	9.3%
26	Reno, NV	52.3%	30,161	27,636	9.1%
27	Dallas, TX	52.9%	507,416	465,560	9%
28	Las Vegas, NV	56.8%	146,388	134,615	8.7%
29	Nashville, TN	45.5%	125,638	115,631	8.7%
30	Modesto, CA	52.2%	27,863	25,653	8.6%
31	Scranton, PA	49.7%	25,211	23,326	8.1%
32	Greenville, SC	40.6%	46,399	43,096	7.7%
33	San Antonio, TX	47.7%	139,584	129,865	7.5%
34	Washington, DC	50.4%	371,432	345,937	7.4%
35	Baltimore, MD	44.5%	139,302	130,075	7.1%
36	Providence, RI	48.6%	85,743	80,413	6.6%
37	Charleston, SC	43.5%	44,246	41,631	6.3%
38	Colorado Springs, CO	41.9%	43,877	41,562	5.6%
39	Denver, CO	49.4%	209,988	199,788	5.1%
40	Deltona, FL	40.2%	24,689	23,672	4.3%
41	Corpus Christi, TX	48.4%	24,392	23,390	4.3%
42	Raleigh, NC	43.3%	79,998	76,904	4%
43	Springfield, MA	51.9%	29,610	28,587	3.6%
44	Little Rock, AR	46.8%	40,216	38,896	3.4%
45	Tampa, FL	49.2%	164,377	160,269	2.6%
46	Philadelphia, PA	44.1%	304,585	297,305	2.4%
47	Salt Lake City, UT	40.8%	64,962	63,652	2.1%
48	Rochester, NY	44.2%	52,947	51,924	2%
49	Boise City, ID	37.9%	34,797	34,195	1.8%
50	Seattle, WA	52.9%	290,175	286,752	1.2%
51	Memphis, TN	56.1%	77,096	76,304	1%
52	Syracuse, NY	45.8%	32,748	32,435	1%
53	Boston, MA	52.3%	284,970	282,271	1%
54	Fresno, CA	52.2%	54,343	54,096	0.5%
55	Chicago, IL	47.5%	498,601	497,330	0.3%
56	Portland, OR	49.1%	150,258	150,074	0.1%
57	Akron, OH	43.7%	32,160	32,243	-0.3%
58	Ogden, UT	31.7%	21,999	22,107	-0.5%
59	Augusta, GA	45%	25,109	25,252	-0.6%
60	Wichita, KS	44.1%	32,129	32,333	-0.6%
61	Chattanooga, TN	44.8%	27,304	27,489	-0.7%
62	Asheville, NC	45%	22,795	22,952	-0.7%
63	Birmingham, AL	41.3%	51,895	52,284	-0.7%
64	Greensboro, NC	50.6%	44,002	45,047	-2.3%
65	Youngstown, OH	40.9%	22,379	22,930	-2.4%
66	Sacramento, CA	49.3%	121,232	124,770	-2.8%
67	Atlanta, GA	45.5%	306,695	317,134	-3.3%
68	Phoenix, AZ	45.5%	241,678	249,953	-3.3%
69	Virginia Beach, VA	47.9%	98,620	103,007	-4.3%
70	Albany, NY	47.1%	44,756	46,928	-4.6%
71	Jackson, MS	50.1%	30,849	32,430	-4.9%
72	Buffalo, NY	43.9%	56,425	59,664	-5.4%
73	El Paso, TX	47.8%	43,361	46,235	-6.2%
74	Hartford, CT	44.3%	52,381	56,273	-6.9%
75	Stockton, CA	48.7%	35,829	38,626	-7.2%
76	Spokane, WA	44.1%	31,101	33,550	-7.3%
77	New Orleans, LA	46.7%	64,123	69,245	-7.4%
78	Detroit, MI	37.9%	174,739	189,113	-7.6%
79	Kansas City, MO	43%	116,997	126,787	-7.7%
80	Dayton, OH	48%	45,634	49,561	-7.9%
81	Winston-Salem, NC	49.1%	33,302	36,399	-8.5%
82	Indianapolis, IN	41%	106,680	116,813	-8.7%
83	St. Louis, MO	39.7%	129,291	141,642	-8.7%
84	Minneapolis, MN	37.4%	166,983	185,947	-10.2%
85	Pittsburgh, PA	41.4%	105,953	118,430	-10.5%
86	Bakersfield, CA	48.3%	44,684	50,030	-10.7%
87	Omaha, NE	39.1%	49,379	55,361	-10.8%
88	Baton Rouge, LA	37.4%	35,551	40,179	-11.5%
89	Cleveland, OH	47.8%	102,271	115,841	-11.7%
90	Des Moines, IA	37.9%	29,917	34,199	-12.5%
91	Pensacola, FL	38.1%	20,245	23,158	-12.6%
92	Albuquerque, NM	43.2%	44,311	51,010	-13.1%
93	Louisville, KY	40.3%	58,456	67,312	-13.2%
94	Milwaukee, WI	49.6%	90,183	103,873	-13.2%
95	Oklahoma City, OK	46.2%	74,122	86,118	-13.9%
96	Lancaster, PA	37.1%	20,555	23,968	-14.2%
97	Grand Rapids, MI	31.5%	33,652	39,515	-14.8%
98	Cincinnati, OH	41.1%	100,937	118,564	-14.9%
99	Huntsville, AL	39.1%	22,361	26,864	-16.8%
100	Provo, UT	32.8%	25,345	30,476	-16.8%
101	Knoxville, TN	40.8%	36,491	44,022	-17.1%
102	Columbia, SC	40.6%	36,928	44,572	-17.1%
103	Tucson, AZ	46.3%	48,947	60,307	-18.8%
104	Toledo, OH	49.3%	30,500	37,823	-19.4%
105	Lafayette, LA	39.1%	21,148	26,517	-20.2%
106	Fayetteville, AR	44.2%	28,549	36,647	-22.1%
107	Harrisburg, PA	41.2%	25,359	33,948	-25.3%

Source: RentCafe's analysis of IPUMS data • All data is accurate as of the date of publication.

Not to be outdone, tech hubs like Austin, TX; New York and San Jose, CA, are also among the areas with the highest growth in Millennial renters — between 17% and 23%. While these increases may be driven, in part, by younger Millennials relocating for professional opportunities, all three cities are already well-established renter hubs with more than half of their Millennial populations renting. For example, two-thirds of Millennials living in San Jose are renters.

Top locations for Millennial renters

Speaking of well-established renter hubs, Los Angeles tops the list as the U.S. metro with the highest concentration of Millennial renters: Seven out of 10 Millennials in the city are renters. Next are San Jose, CA, and San Diego, where 66% and 64% of Millennials rent, respectively. New York and San Francisco follow, each with Millennial rentership rates above 60%.

Top 20 metros with largest shares of
Millennial renters

	Metro area	Share of Millennial renters in 2023
1	Los Angeles, CA	70.1%
2	San Jose, CA	65.8%
3	San Diego, CA	64.4%
4	New York, NY	63.6%
5	San Francisco, CA	62.4%
6	Las Vegas, NV	56.8%
7	Miami, FL	56.6%
8	New Haven, CT	56.3%
9	Memphis, TN	56.1%
10	Oxnard, CA	56%
11	Orlando, FL	54.8%
12	Austin, TX	53.3%
13	Seattle, WA	52.9%
14	Dallas, TX	52.9%
15	Reno, NV	52.3%
16	Boston, MA	52.3%
17	Modesto, CA	52.2%
18	Fresno, CA	52.2%
19	Columbus, OH	52.2%
20	Houston, TX	51.2%

Source: RentCafe's analysis of IPUMS data • All data is accurate as of the date of publication.

Other metro areas where most Millennials are living in rentals are Las Vegas; Seattle; Boston; Modesto, CA; and Fresno, CA.

Check out the share of Millennial homeowners and renters in your area, as well as other relevant local data points:

Where Millennials own vs. rent

	Metro area	Share of Millennial owners	Millennial owner households in 2023	Millennial owner households in 2018	5-year change	Share of Millennial renters	Millennial renter households in 2023	Millennial renter households in 2018	5-year change
1	Grand Rapids, MI	68.5%	73,080	51,860	40.9%	31.5%	33,652	39,515	-14.8%
2	Ogden, UT	68.3%	47,374	30,071	57.5%	31.7%	21,999	22,107	-0.5%
3	Provo, UT	67.2%	51,912	30,067	72.7%	32.8%	25,345	30,476	-16.8%
4	Lancaster, PA	62.9%	34,784	21,642	60.7%	37.1%	20,555	23,968	-14.2%
5	Minneapolis, MN	62.6%	279,750	175,623	59.3%	37.4%	166,983	185,947	-10.2%
6	Baton Rouge, LA	62.6%	59,536	41,196	44.5%	37.4%	35,551	40,179	-11.5%
7	Boise City, ID	62.1%	56,992	33,856	68.3%	37.9%	34,797	34,195	1.8%
8	Des Moines, IA	62.1%	48,979	43,175	13.4%	37.9%	29,917	34,199	-12.5%
9	Detroit, MI	62.1%	285,925	170,149	68.0%	37.9%	174,739	189,113	-7.6%
10	Pensacola, FL	61.9%	32,853	19,172	71.4%	38.1%	20,245	23,158	-12.6%
11	Lafayette, LA	60.9%	33,005	24,228	36.2%	39.1%	21,148	26,517	-20.2%
12	Omaha, NE	60.9%	76,797	51,184	50.0%	39.1%	49,379	55,361	-10.8%
13	Huntsville, AL	60.9%	34,771	19,659	76.9%	39.1%	22,361	26,864	-16.8%
14	St. Louis, MO	60.3%	196,595	124,225	58.3%	39.7%	129,291	141,642	-8.7%
15	Deltona, FL	59.8%	36,715	17,612	108.5%	40.2%	24,689	23,672	4.3%
16	Louisville, KY	59.7%	86,628	56,587	53.1%	40.3%	58,456	67,312	-13.2%
17	Greenville, SC	59.4%	67,968	41,895	62.2%	40.6%	46,399	43,096	7.7%
18	Palm Bay, FL	59.4%	32,530	15,352	111.9%	40.6%	22,221	17,508	26.9%
19	Columbia, SC	59.4%	54,029	31,554	71.2%	40.6%	36,928	44,572	-17.1%
20	Knoxville, TN	59.2%	52,975	37,009	43.1%	40.8%	36,491	44,022	-17.1%
21	Salt Lake City, UT	59.2%	94,194	58,420	61.2%	40.8%	64,962	63,652	2.1%
22	Youngstown, OH	59.1%	32,358	15,861	104.0%	40.9%	22,379	22,930	-2.4%
23	Indianapolis, IN	59.0%	153,489	90,530	69.5%	41.0%	106,680	116,813	-8.7%
24	Cincinnati, OH	58.9%	144,755	87,795	64.9%	41.1%	100,937	118,564	-14.9%
25	Harrisburg, PA	58.8%	36,245	20,586	76.1%	41.2%	25,359	33,948	-25.3%
26	Birmingham, AL	58.7%	73,653	43,794	68.2%	41.3%	51,895	52,284	-0.7%
27	Pittsburgh, PA	58.6%	149,879	100,419	49.3%	41.4%	105,953	118,430	-10.5%
28	Lakeland, FL	58.4%	47,972	19,929	140.7%	41.6%	34,121	25,714	32.7%
29	Colorado Springs, CO	58.1%	60,757	32,244	88.4%	41.9%	43,877	41,562	5.6%
30	Portland, ME	57.6%	35,993	24,030	49.8%	42.4%	26,456	22,071	19.9%
31	Kansas City, MO	57.0%	155,117	94,487	64.2%	43.0%	116,997	126,787	-7.7%
32	Albuquerque, NM	56.8%	58,200	34,535	68.5%	43.2%	44,311	51,010	-13.1%
33	Raleigh, NC	56.7%	104,914	60,663	72.9%	43.3%	79,998	76,904	4.0%
34	Charleston, SC	56.5%	57,528	33,154	73.5%	43.5%	44,246	41,631	6.3%
35	Akron, OH	56.3%	41,438	27,898	48.5%	43.7%	32,160	32,243	-0.3%
36	Buffalo, NY	56.1%	72,004	43,471	65.6%	43.9%	56,425	59,664	-5.4%
37	Wichita, KS	55.9%	40,806	26,873	51.8%	44.1%	32,129	32,333	-0.6%
38	Spokane, WA	55.9%	39,436	24,974	57.9%	44.1%	31,101	33,550	-7.3%
39	Philadelphia, PA	55.9%	385,854	201,239	91.7%	44.1%	304,585	297,305	2.4%
40	Rochester, NY	55.8%	66,888	42,197	58.5%	44.2%	52,947	51,924	2.0%
41	Fayetteville, AR	55.8%	36,048	22,288	61.7%	44.2%	28,549	36,647	-22.1%
42	Hartford, CT	55.7%	65,940	43,227	52.5%	44.3%	52,381	56,273	-6.9%
43	Baltimore, MD	55.5%	173,454	103,650	67.3%	44.5%	139,302	130,075	7.1%
44	Worcester, MA	55.4%	54,789	30,440	80.0%	44.6%	44,067	39,098	12.7%
45	Chattanooga, TN	55.2%	33,698	19,969	68.8%	44.8%	27,304	27,489	-0.7%
46	Augusta, GA	55.0%	30,741	17,962	71.1%	45.0%	25,109	25,252	-0.6%
47	Allentown, PA	55.0%	46,983	27,474	71.0%	45.0%	38,416	31,320	22.7%
48	Asheville, NC	55.0%	27,831	18,344	51.7%	45.0%	22,795	22,952	-0.7%
49	North Port, FL	54.6%	35,144	13,212	166.0%	45.4%	29,196	25,295	15.4%
50	Atlanta, GA	54.5%	367,436	207,060	77.5%	45.5%	306,695	317,134	-3.3%
51	Cape Coral, FL	54.5%	32,613	17,462	86.8%	45.5%	27,222	21,438	27.0%
52	Nashville, TN	54.5%	150,496	91,323	64.8%	45.5%	125,638	115,631	8.7%
53	Phoenix, AZ	54.5%	289,450	161,670	79.0%	45.5%	241,678	249,953	-3.3%
54	Syracuse, NY	54.2%	38,743	23,666	63.7%	45.8%	32,748	32,435	1.0%
55	Richmond, VA	54.1%	86,459	45,578	89.7%	45.9%	73,352	66,154	10.9%
56	Oklahoma City, OK	53.8%	86,359	66,910	29.1%	46.2%	74,122	86,118	-13.9%
57	McAllen, TX	53.7%	44,787	25,111	78.4%	46.3%	38,593	31,005	24.5%
58	Tucson, AZ	53.7%	56,782	27,179	108.9%	46.3%	48,947	60,307	-18.8%
59	Riverside, CA	53.4%	224,110	129,714	72.8%	46.6%	195,734	171,858	13.9%
60	New Orleans, LA	53.3%	73,249	41,399	76.9%	46.7%	64,123	69,245	-7.4%
61	Little Rock, AR	53.2%	45,748	29,833	53.3%	46.8%	40,216	38,896	3.4%
62	Charlotte, NC	53.0%	173,078	96,145	80.0%	47.0%	153,722	138,375	11.1%
63	Albany, NY	52.9%	50,364	29,168	72.7%	47.1%	44,756	46,928	-4.6%
64	Jacksonville, FL	52.7%	105,156	46,556	125.9%	47.3%	94,336	86,165	9.5%
65	Chicago, IL	52.5%	551,013	345,229	59.6%	47.5%	498,601	497,330	0.3%
66	San Antonio, TX	52.3%	153,099	74,379	105.8%	47.7%	139,584	129,865	7.5%
67	Cleveland, OH	52.3%	112,017	73,629	52.1%	47.7%	102,271	115,841	-11.7%
68	El Paso, TX	52.2%	47,397	24,274	95.3%	47.8%	43,361	46,235	-6.2%
69	Virginia Beach, VA	52.1%	107,120	60,367	77.4%	47.9%	98,620	103,007	-4.3%
70	Dayton, OH	52.0%	49,385	30,649	61.1%	48.0%	45,634	49,561	-7.9%
71	Bakersfield, CA	51.7%	47,744	25,394	88.0%	48.3%	44,684	50,030	-10.7%
72	Corpus Christi, TX	51.6%	26,033	15,425	68.8%	48.4%	24,392	23,390	4.3%
73	Providence, RI	51.4%	90,717	48,909	85.5%	48.6%	85,743	80,413	6.6%
74	Stockton, CA	51.3%	37,711	17,333	117.6%	48.7%	35,829	38,626	-7.2%
75	Winston, NC	50.9%	34,515	19,845	73.9%	49.1%	33,302	36,399	-8.5%
76	Portland, OR	50.9%	155,484	88,412	75.9%	49.1%	150,258	150,074	0.1%
77	Tampa, FL	50.8%	169,987	90,945	86.9%	49.2%	164,377	160,269	2.6%
78	Sacramento, CA	50.7%	124,760	69,517	79.5%	49.3%	121,232	124,770	-2.8%
79	Toledo, OH	50.7%	31,361	25,116	24.9%	49.3%	30,500	37,823	-19.4%
80	Denver, CO	50.6%	215,393	131,069	64.3%	49.4%	209,988	199,788	5.1%
81	Milwaukee, WI	50.4%	91,699	62,163	47.5%	49.6%	90,183	103,873	-13.2%
82	Scranton, PA	50.3%	25,471	14,108	80.5%	49.7%	25,211	23,326	8.1%
83	Jackson, MS	49.9%	30,727	22,709	35.3%	50.1%	30,849	32,430	-4.9%
84	Washington, DC	49.6%	365,182	197,450	84.9%	50.4%	371,432	345,937	7.4%
85	Greensboro, NC	49.4%	43,031	26,205	64.2%	50.6%	44,002	45,047	-2.3%
86	Bridgeport, CT	49.1%	42,888	22,912	87.2%	50.9%	44,531	37,100	20.0%
87	Springfield, MA	48.9%	28,376	15,799	79.6%	51.1%	29,610	28,587	3.6%
88	Houston, TX	48.8%	418,698	227,365	84.2%	51.2%	439,371	397,410	10.6%
89	Columbus, OH	47.8%	127,520	76,477	66.7%	52.2%	139,252	127,416	9.3%
90	Fresno, CA	47.8%	49,742	24,384	104.0%	52.2%	54,343	54,096	0.5%
91	Modesto, CA	47.8%	25,483	16,429	55.1%	52.2%	27,863	25,653	8.6%
92	Boston, MA	47.7%	259,828	147,898	75.7%	52.3%	284,970	282,271	1.0%
93	Reno, NV	47.7%	27,494	17,390	58.1%	52.3%	30,161	27,636	9.1%
94	Dallas, TX	47.1%	451,826	229,497	96.9%	52.9%	507,416	465,560	9.0%
95	Seattle, WA	47.1%	258,105	155,635	65.8%	52.9%	290,175	286,752	1.2%
96	Austin, TX	46.7%	176,981	83,918	110.9%	53.3%	201,655	163,855	23.1%
97	Orlando, FL	45.2%	143,705	72,744	97.5%	54.8%	174,506	129,807	34.4%
98	Oxnard, CA	44.0%	29,607	13,840	113.9%	56.0%	37,737	32,721	15.3%
99	Memphis, TN	43.9%	60,430	35,427	70.6%	56.1%	77,096	76,304	1.0%
100	New Haven, CT	43.7%	39,849	21,896	82.0%	56.3%	51,290	43,465	18.0%
101	Miami, FL	43.4%	248,583	125,886	97.5%	56.6%	324,316	255,816	26.8%
102	Las Vegas, NV	43.2%	111,124	69,715	59.4%	56.8%	146,388	134,615	8.7%
103	San Francisco, CA	37.6%	193,905	103,353	87.6%	62.4%	321,244	290,529	10.6%
104	New York, NY	36.4%	762,654	402,985	89.3%	63.6%	1,332,212	1,113,635	19.6%
105	San Diego, CA	35.6%	130,700	69,203	88.9%	64.4%	236,224	215,507	9.6%
106	San Jose, CA	34.2%	72,427	41,599	74.1%	65.8%	139,072	118,794	17.1%
107	Los Angeles, CA	29.9%	387,212	223,118	73.5%	70.1%	906,663	771,288	17.6%

Source: RentCafe's analysis of IPUMS data • All data is accurate as of the date of publication.

FAQ

Q: What are the top metro areas for Millennial homeowners?
A: The top five metro areas with the highest shares of Millennial homeowners are Grand Rapids, MI; Ogden, UT; Provo, UT; Lancaster, PA; and Minneapolis.

Q: How many Millennials own homes in the U.S.?
A: There are about 12.4 million Millennial owner households, following a significant 74% increase in just five years.

Q: How many Millennials rent in the U.S.?
A: There are now 12.6 million Millennial renter households, and the number continues to rise, according to the most recent analysis from RentCafe.com.

Q: Where has Millennial homeownership grown the most?
A: North Port, FL, saw the fastest growth, with Millennial homeowner households tripling between 2018 and 2023 to over 35,000.

Q: Where has Millennial renting grown the most?
A: Orlando, FL, had the largest increase, with 34% more Millennial renter households in 2023 compared to 2018.

Methodology

RentCafe.com is a nationwide apartment search website that enables renters to easily find apartments and houses for rent throughout the U.S.

The Millennial generation was defined as per Pew Research Center data (individuals born between 1981 and 1996). The ownership and rentership data, as well as Millennial income growth, were sourced from IPUMS. Only metro areas with a Millennial household population higher or equal to 50,000 in 2023 were considered (107 metro areas).

IPUMS is an abbreviation for Integrated Public Use Microdata Series and provides census and survey data from around the world integrated across time and space. IPUMS is a part of the Institute for Social Research and Data Innovation at the University of Minnesota. IPUMS USA, University of Minnesota, www.ipums.org.

Steven Ruggles, Sarah Flood, Matthew Sobek, Daniel Backman, Grace Cooper, Julia A. Rivera Drew, Stephanie Richards, Renae Rodgers, Jonathan Schroeder and Kari C.W. Williams. IPUMS USA: Version 16.0 [dataset]. Minneapolis, MN: IPUMS, 2025. https://doi.org/10.18128/D010.V16.0

Job growth data was provided by the U.S. Bureau of Labor Statistics, while local inflation data was sourced from the U.S. Bureau of Economic Analysis.

Fair use and redistribution

We encourage you and freely grant you permission to reuse, host, or repost the research, graphics, and images presented in this article. When doing so, we ask that you credit our research by linking to RentCafe.com or this page, so that your readers can learn more about this project, the research behind it and its methodology. For more in-depth, customized data, please contact us at media@rentcafe.com.

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Alexandra Both

Alexandra Both is a senior real estate writer and research analyst with RentCafe. She brings over 10 years of real estate writing experience, having served as a senior editor at Commercial Property Executive and Multi-Housing News. A seasoned journalist, Alexandra has worked across print, online, and broadcast media. Her work has been featured in a variety of prominent outlets, including The New York Times, The Guardian, USA Today, and Architectural Digest. She holds a B.A. in Journalism and an M.A. in Community Development.