Redfin Generational Report: Elder Millennials Spent About 27 Percent of Income on Housing at Age 30, Versus 36 Percent for Baby Boomers
A Redfin report published November 12 found that elder millennials spent about 27 percent of their income on housing at age 30, compared with 36 percent for baby boomers at the same age. The analysis is based on Redfin and U.S. Census data, with all dollar figures adjusted for inflation.
The report said the pandemic changed the math. Home prices surged about 40 percent nationwide during the pandemic buying frenzy, and mortgage rates jumped from around 3 percent in late 2021 to nearly 7 percent in late 2022. Since rates rose above 6 percent in 2022, elder millennials have spent up to 35 percent of their income on monthly mortgage payments, compared with roughly 25 percent for boomers at the same age, even though millennials earn more after inflation.
The report also draws on a survey conducted by Ipsos for Redfin in May 2026, fielded to 4,000 U.S. residents.
Source: Redfin
Published by GSM · USA (original Chinese edition)
Photo: 图：宾夕法尼亚州 Levittown 的郊区住宅区历史航拍；Levittown 是婴儿潮一代大规模郊区住房的代表。来源：Wikimedia Commons，Public domain。 / Photo: Historic aerial view of the Levittown suburban development in Pennsylvania, an emblem of baby-boom-era mass suburban housing. Source: Wikimedia Commons, Public domain.
