Search Twitter Facebook Digital HFBusiness Magazine Pinterest Google

Get the latest industry scoop


Daily News

From Home Furnishing Business

FastFact: Stagnant income holding back Millennial home buying

While high student debt is often cited as a key factor in keeping Millennials out of the housing market, the simple lack of sufficient income also plays a role.

Median income for individual Millennials ages 25 to 34 stood at $31,219 annually in 2010 for example, down more than 10% from a peak of $34,459 in 2007.

A study by the National Association of Realtors, meanwhile, showed that Millennials who do purchase a home have a median household income of $77,400 and save for a down payment an average of four years.

More details are available by clicking on this link.

Comments are closed.
Performance Groups
HFB Designer Weekly
HFBSChell I love HFB
HFB Got News
HFB Designer Weekly