Most Home Building in Millennial Areas, But Pace Lags Rest of Nation

Washington, D.C. -- The majority of single-family and multifamily housing production in the nation is occurring in counties with the greatest concentration of millennials. However, in a warning sign that the housing affordability crisis persists and more construction is needed, the pace of housing production in areas with the greatest concentration of millennials lags the rest of the nation, according to the latest quarterly National Association of Home Builders (NAHB) Home Building Geography Index (HBGI).

The third quarterly release of the HBGI sheds new light on the housing market by focusing on where millennials live. "Millennial counties" are defined as geographic areas where at least 26% of the population consists of this growing demographic group. These millennial counties are diverse, representing major metro areas including several California markets, Seattle, Portland, Boston, and Washington, D.C., as well as more rural counties in places such as Ohio, Kansas and Missouri.