White Picket Fences: Housing Markets and the Living Arrangements of the Millennial Generation
Jonathan Vespa, U.S. Census Bureau
Charlynn Burd, U.S. Census Bureau
Housing is a fundamental element of young adult living arrangements. Using the 2007–2012 American Community Survey, we explore links between the living arrangements of Millennials (born 1977–1993) and four elements of housing markets, measured at the MSA level: (1) affordability in terms of rent and mortgage costs; (2) availability of single family homes and apartments; (3) the level of competition for housing; and (4) the size of housing units. We extend prior work by using the most recent data, focusing on US housing markets in metropolitan areas, and looking at a more exhaustive array of living arrangements. These include living alone, with a cohabiting partner, with a spouse, with parents, or with roommates.