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Increasing Student Loan Debt Affecting Millennial Renters

Sep 1, 2016 5:02:42 PM

A Closer Look from Rental Property Solution Data

Average Student Loan Balance for Millennial Renters from 2008 to 2015

  • 60 percent of rental housing applicants from 2011 to 2015 were millennials
  • 48 percent of millennial rental applicants had student loan debts in 2015
  • Average student loan balance of millennial rental applicants reached $31,900 in 2015

Homeownership is on the decline, especially among the younger age group, while rental household formation has been rising, and millennials are a major share of this growing rental population. CoreLogic Rental Property Solutions tracks rental applicant data, and new analysis reveals that 60 percent of rental housing applicants applying from 2011-2015 were millennials. Read More > 

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