In the United States, Hispanics make up the youngest major racial or ethnic group, according to the Pew Research Center. In their analysis of U.S. Census Bureau Data, the Pew Research Center also discovered that “about one-third, or 17.9 million of the nation’s Hispanic population is younger than 18, and about a quarter, or 14.6 million, of all Hispanics are millennials (ages 18 to 33 in 2014).”
In another article, it was recently reported that “record-high shares of…Hispanic young adults (36%) lived in the home of their parent(s) in 2014.” Furthermore, the article says that only “30% of Hispanics were living with a spouse or significant other in 2014,” making living in a parent(s) home the ‘dominant arrangement’ for young Hispanic adults.
This doesn’t mean that they don’t believe in homeownership. According to a survey by Zillow, 65.3% of non-white millennials (18-34 years old) said that homeownership and the American Dream go hand-in-hand.
If you are a Hispanic Millennial living with your parent(s) and you would like to become a homeowner, there are many options available. Call your local real estate agent today and find out the options available to you in your marketplace.