Millennial homeowners outnumber renters for the first time

Millennial homeowners outnumbered millennial renters for the first time last year, despite creeping interest rates and a tight real estate market.

Driving the news: Nearly 52% of the first generation to grow up in the Internet age ​​— people born from 1981 to 1996 — were homeowners in 2022, making the largest ownership gains of any generation in the last five years, according to a new RentCafe report.

By the numbers: The number of millennial homeowners increased by 7.1 million between 2017 and 2022 to 18.2 million, a 64% increase....