On Homeownership, It's a Millennial Milestone

It took longer than it usually does, but the millennial generation appears to have reached a milestone when it comes to their living arrangements. A new report from RentCafe finds that most millennials—52%—now own a home instead of renting, reports USA Today. The total number of millennial homeowners—think ages 27 to 42—rose by 7.1 million to 18.2 million between 2017 and 2022, according to the new stats, per Axios. The average age at which a millennial bought a home was 34, up from 32 for Gen Xers and 33 for baby boomers. As for where they are settling, Richmond, Virginia, appears to be particularly hot destination, thanks to its "funky, hipster reputation" and relatively low cost of living, per RentCafe. Here are the 10 metro areas that saw the biggest growth in millennial homeowners from 2017 to 2022:

1. Richmond, Va., up 234.0%
2. Las Vegas, 157.7%
3. Milwaukee, 157.4%
4. Portland, Ore., 146%
5. Atlanta, 128.7%
6. San Antonio, 127.9%
7. Jacksonville, Fla., 115.9%
8. Orlando, 113.4%
9. Austin, 112.0%
10. Memphis, 109.5%

(More millennials stories.)