THE BIG FINISH
WRAP YOUR HEAD AROUND THE MARKET'S LEADING INDICATORS
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MILLENNIALS AND HOUSING DEBT
Millennials are becoming more reliant on debt, according to a report from Experian. As a result, millennials aged 23–38, are
likely to hold more debt than their peers. Millennials held an average of $222,211 in mortgage debt in Q1 2019, the report states,
a 5% increase from Q1 2018 and one of the largest mortgage debt increases seen by any generation in the past year.
Millennial mortgage balances grew an average of 5%, which was the second-highest growth rate behind members of
Generation Z, who saw their average balances increase by 15% since Q1 2018. Experian took a look at average mortgage
balances by generation to determine just how much debt each group had taken on between 2018 and 2019.
Source: Experian "Millennials on Pace to Hold Most Mortgage Debt"
GENERATION
AVERAGE MORTGAGE
BALANCE / Q1 2018
AVERAGE MORTGAGE
BALANCE / Q1 2019
YEAR-OVER-YEAR
CHANGE
GENERATION Z $120,209 $138,193 0.15
MILLENNIALS $210,923 $222,211 5
GENERATION X $233,859 $237,753 2
BABY BOOMERS $175,439 $175,743 0
SILENT GENERATION $130,595 $131,658 1
