58 Percent of Millenials Are Homeowners, Says a New Survey by LendEDU

A recent survey conducted by LendEDU, a leading online marketplace for financial products, revealed key information regarding home ownership and mortgage trends among members of the millennial generation.

Millennials, those who were born between 1981 and 1996, consist of 83 million people, making them the largest living generation in the United States.

The survey of 1,000 millennials was commissioned by LendEDU and conducted online by polling company Pollfish. Among the survey’s key findings were:

  • 58 percent of millenials are homeowners;
  • 83 percent of millennial homeowners obtained a mortgage;
  • The average down payment was 16 percent of the purchase price;
  • The median down payment was 15 percent of the purchase price;
  • 30 percent of borrowers regretted taking out a mortgage to buy a home; and
  • 73 percent of respondents said they used a traditional bank to obtain their mortgage.

This is part one of a more exhaustive two-part survey.