Report: Nearly half of D.C.’s Millennials can’t afford rent

Across the nation, 47.7 percent of renters are cost-burdened, meaning they spend over 30 percent of their income on rent.

In their latest report, ABODO analyzed U.S. Census Bureau data to find out which of three generations spend more of their income on rent. The report addresses Millennials, those in Generation X, and Baby Boomers.

In Washington, D.C., 45.8 percent of Millennials spend over 30 percent of their income on rent, while 45 percent of Baby Boomers spend over 30 percent of their income on rent. Those in Generation X spend the least out of the three groups, only 41 percent.

On a national level, 65.5 percent of Millennials are renters, the highest number out of the three generations. Only 37.9 percent of Gen Xers rent, while 23.3 percent of Baby Boomers rent.

For more data on each generation and how the numbers compare in different cities across the nation, check out ABODO’s full report here.

• Renter Cost Burdens by Generation [ABODO]