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The Generations in 2015

Thursday, May 26, 2016

From American Consumers Newsletter

One in four Americans is a Millennial, a member of the nation's largest generation. According to a Demo Memo analysis of the Census Bureau's population estimates, Millennials became the largest generation in 2011 when they outnumbered Boomers by just 332,000. In 2015, Millennials outnumbered Boomers by 4 million.

Between 2010 and 2015, the number of Millennials grew by 2.2 million thanks to immigration. The number of Baby Boomers shrank by 2.5 million as the aging generation faced higher mortality rates. The number of Older Americans fell by 9 million during those years.

Size of generations in 2015 (and % of total population)
Recession (aged 0 to 5): 23,925,439 (7%)
iGeneration (aged 6 to 20): 62,563,691 (19%)
Millennial (aged 21 to 38): 79,016,798 (25%)
Generation X (aged 39 to 50): 49,340,192 (15%)
Baby Boom (aged 51 to 69): 74,879,316 (23%)
Older Americans (aged 70+): 31,693,384 (10%)

Homeownership by Generation, 2015

The Baby-Boom generation is no longer the largest, having been surpassed by Millennials in 2011. But Boomers still dominate homeownership. According to a Demo Memo analysis of Census Bureau data, here are the homeownership rates (and share of homeowners) by generation in 2015.

Homeownership rate by generation (and share of total)
Total households: 63.7 percent are homeowners (100%)
Millennial: 39.8 percent are homeowners (18%)
Generation X: 64.8 percent are homeowners (22%)
Baby Boom: 75.5 percent are homeowners (41%)
Older Americans: 78.7 percent are homeowners (20%)

Note: In 2015 Millennials were under age 39; Gen Xers were 39 to 50; Boomers were 51 to 69.

– By Cheryl Russell

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