What does consumer spending look like for Millennial renters?
- 51% of renters in our survey experienced a rent increase.
- 24% said they had to relocate because they could not afford the increase.
- 59% expect their rent to increase in 2023.
Read the entire study.
Why it matters.
89% of Millennial renters plan to own a home someday. However, only 34% of Millennials expect to be able to purchase a home within the next two years, and another 43% think it will take 3-5 years for them to be able to afford a home. Read the entire study to see how this could impact home improvement retail.
Read the entire study.
