The Great Housing Mismatch: Empty Nesters Own 28% of the Nation’s Large Homes, Millennial Families Own 16%
Rocket Companies, Inc. Class A (RKT)
Company Research
Source: Business Wire
Empty-nest baby boomers own more large homes than millennials with kids in every major U.S. metro, underscoring a mismatch between who has space and who needs it SEATTLE--(BUSINESS WIRE)--Empty-nest baby boomers own nearly twice as many U.S. homes with three or more bedrooms as millennial families do, according to a new report from Redfin, the real estate brokerage powered by Rocket.Baby boomers living in one- to two-adult households own 28% of three-bedroom-plus (“large”) homes in the U.S., and baby boomers with households of three adults or more own an additional 7%. The latter is likely made up of adult children living with their parents.By comparison, millennials with children living at home own 16% of large homes. This is based on a Redfin analysis of U.S. Census data from 2024 that breaks down the share of three-bedroom-plus homes owned and occupied by each generation, by household type and size.Younger families face affordability and inventory challengesMillennials are the l
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