New study shows millennials own more homes than rent

It’s official: Millennials, long considered a demographic prone to renting a place to live, are becoming homeowners.

A recent study from apartment search website and research blog RentCafe reveals that the generation transitioned from renter to owner, with 52% of millennials, born between 1981 and 1996, owning a home in 2022. Many cities in Florida saw a decrease in renters over the past five years, the report found, suggesting homeowners are choosing to settle down here.

The study analyzed 110 of the largest metro areas nationwide. Of those, nearly 30 areas more than doubled the number of millennial homeowners.