They may be America's largest adult generation, but from delaying marriage to redefining financial security, Millennials are navigating adulthood on entirely new terms.
Key Takeaways
- As of 2023, Millennials (born 1981-1996) represent approximately 72 million individuals in the United States, making them the largest adult generation
- In 2021, 85% of Millennials lived in urban or suburban areas compared to 78% of Gen X at the same age
- Millennial women outnumbered Millennial men by 2.3 million in the U.S. as of 2022, with 36.4 million females versus 34.1 million males
- The median Millennial income was $81,000 in 2022, 20% higher than Gen X at same age adjusted for inflation
- Student debt for Millennials averaged $32,910 per borrower in 2023
- 45% of Millennials lived paycheck-to-paycheck in 2022, higher than 38% of Gen X
- 56% of Millennials held bachelor's degrees in 2022, higher than 40% for Gen X
- Millennial unemployment rate was 3.7% in 2023
- 75% of Millennials valued work-life balance over salary in job choices 2022
- Millennial mental health days off work: 5.7 per year in 2023
- Obesity rate among Millennials was 35% in 2022, higher than Gen X at same age
- 42% of Millennials reported anxiety disorders in 2023
- 55% of Millennials married by age 35, lower than 65% previous generations
- 74% of Millennials supported same-sex marriage in 2023
- Social media usage: 90% daily for Millennials in 2022
Millennials are a large, diverse generation facing modern economic and social pressures.
Attitudes and Behaviors
- 55% of Millennials married by age 35, lower than 65% previous generations
- 74% of Millennials supported same-sex marriage in 2023
- Social media usage: 90% daily for Millennials in 2022
- 62% of Millennials identified as environmentally conscious in 2023
- Political affiliation: 60% lean Democrat among Millennials in 2022
- 85% of Millennials used ride-sharing apps weekly in 2021
- Trust in government: 25% for Millennials in 2023
- 48% of Millennials preferred experiences over possessions in 2022
- Dating app usage: 53% of single Millennials in 2023
- 71% of Millennials valued diversity in workplace 2022
- Pet ownership: 70% of Millennials own pets in 2023
- 39% of Millennials delayed marriage for career reasons in 2021
- Climate change concern: 76% very worried among Millennials 2023
- 67% of Millennials shopped ethically in 2022
- Podcast listening: 55% weekly for Millennials in 2023
- 82% of Millennials supported remote work permanently post-2020
- Gun control support: 68% among Millennials in 2022
- 59% of Millennials cohabitated before marriage in 2021
- Streaming service subscriptions: 4.2 average per Millennial household 2023
- 45% of Millennials voted in midterms 2022
- Minimalism adoption: 30% of Millennials in 2022
- 77% of Millennials used contactless payments in 2023
- Abortion rights support: 73% among Millennial women 2022
- 64% of Millennials traveled for leisure annually in 2023
- Optimism about future: 52% for Millennials in 2021
- 88% of Millennials followed influencers on social media 2022
Attitudes and Behaviors Interpretation
Millennials are rewriting the rulebook with a latte in one hand, a phone in the other, and a rescue dog at their feet, trading traditional milestones for social justice, sustainable shopping, and the freedom to work remotely while doomscrolling about climate change.
Demographics
- As of 2023, Millennials (born 1981-1996) represent approximately 72 million individuals in the United States, making them the largest adult generation
- In 2021, 85% of Millennials lived in urban or suburban areas compared to 78% of Gen X at the same age
- Millennial women outnumbered Millennial men by 2.3 million in the U.S. as of 2022, with 36.4 million females versus 34.1 million males
- By 2019, 52% of Millennials were married, lower than the 61% of Gen X at similar ages
- In 2023, the median age of Millennials reached 34 years old, surpassing the Baby Boomers' median age at the same point
- Hispanic Millennials comprised 19% of the U.S. Millennial population in 2020, up from 15% in 2010
- As of 2022, 40% of Millennials had children under 18 living at home, compared to 50% for Gen X
- Millennial homeownership rate stood at 51% in 2021, trailing Gen X's 60% at the same age
- In 2019, 22% of Millennials identified as LGBTQ+, double the rate of older generations
- Black Millennials made up 13% of the U.S. Millennial cohort in 2022
- By 2023, 15% of Millennials were immigrants or children of immigrants
- Millennial divorce rate was 44% lower than Baby Boomers by age 30
- In 2020, 28% of Millennials lived in the South, the highest regional concentration
- Female Millennial labor force participation rate was 73.5% in 2022
- As of 2021, 9% of Millennials had a disability, higher than previous generations
- Millennial voter turnout in 2020 was 55%, up from 50% in 2016
- In 2022, 35% of Millennials were single parents
- Asian Millennials accounted for 7% of the total Millennial population in 2021
- By 2018, 90% of Millennials owned a smartphone
- Millennial fertility rate was 1.8 children per woman in 2020, below replacement level
- In 2023, 25% of Millennials delayed parenthood due to financial reasons
- Urban Millennial population density was 1,200 per square mile in major cities in 2021
- 18% of Millennials were veterans in 2022
- Millennial religious "nones" reached 40% by 2021
- In 2020, 32% of Millennials held a bachelor's degree or higher
- Millennial median household size was 2.6 persons in 2022
- 12% of Millennials lived multigenerationally in 2021
- By 2023, Millennials comprised 35% of the U.S. electorate
- Native-born Millennials were 85% of the cohort in 2022
- Millennial life expectancy at birth was 78.5 years for 2020 cohort
Demographics Interpretation
A generation simultaneously outpacing its predecessors in urbanity, education, and diversity while being outpaced by them in marriage, homeownership, and financial stability, proving that being the largest adult cohort doesn’t necessarily mean you get the largest slice of the pie.
Economic Status
- The median Millennial income was $81,000 in 2022, 20% higher than Gen X at same age adjusted for inflation
- Student debt for Millennials averaged $32,910 per borrower in 2023
- 45% of Millennials lived paycheck-to-paycheck in 2022, higher than 38% of Gen X
- Millennial homeownership wealth gap with Boomers was $200,000 median in 2021
- In 2023, 52% of Millennials had retirement savings under $50,000
- Millennial entrepreneurship rate was 9% in 2022, up from 7% in 2010
- Average Millennial credit card debt reached $5,800 in 2023
- 28% of Millennials delayed major purchases due to inflation in 2022
- Millennial net worth median was $135,600 in 2022, versus $247,200 for Boomers
- Gig economy participation among Millennials was 36% in 2023
- 62% of Millennial households owned stock by 2021
- Millennial savings rate averaged 7.2% of income in 2022, below national 8.5%
- Bankruptcy filings by Millennials peaked at 25% of total in 2019
- 41% of Millennials had side hustles in 2023
- Millennial mortgage debt averaged $220,000 in 2022
- Financial literacy score for Millennials was 65% in 2021
- 55% of Millennials felt financially insecure in 2023
- Average Millennial auto loan balance was $23,500 in 2022
- Millennial investment in crypto reached 43% participation in 2023
- Housing affordability index for Millennials was 120 in 2022, down from 150 in 2010
- 67% of Millennial renters paid over 30% of income on rent in 2021
- Millennial wealth inequality Gini coefficient was 0.85 in 2022
- Personal loan debt for Millennials averaged $12,000 in 2023
- 49% of Millennials maxed out emergency savings in 2022 post-COVID
- Millennial median 401(k) balance was $25,000 in 2023 for ages 30-39
- Cost of living increase hit Millennials 15% harder than average in 2022
- 37% of Millennials underemployed in skilled jobs in 2021
Economic Status Interpretation
We've achieved the financially schizophrenic milestone of earning more than our parents ever did at this age, yet somehow feeling less secure while juggling more debt, side hustles, and crypto bets just to stay in place.
Education and Career
- 56% of Millennials held bachelor's degrees in 2022, higher than 40% for Gen X
- Millennial unemployment rate was 3.7% in 2023
- 75% of Millennials valued work-life balance over salary in job choices 2022
- Average Millennial student loan repayment time projected at 20 years in 2023
- 42% of Millennial graduates underemployed 10 years post-graduation in 2021
- Millennial job tenure averaged 2.8 years in 2022
- 68% of Millennials pursued online learning in 2023
- Master's degree attainment among Millennials reached 14% by 2022
- 51% of Millennials changed careers by age 35 in 2021
- Vocational training participation was 22% for Millennials in 2023
- Millennial promotion rate lagged 10% behind Boomers in early career
- 80% of Millennial college grads had internships pre-graduation in 2022
- PhD attainment for Millennials was 2.1% in 2021
- Remote work preference among Millennials was 58% in 2023
- Associate degree holders among Millennials: 10% in 2022
- 65% of Millennials sought employer tuition assistance in 2021
- Millennial freelance rate in creative fields was 27% in 2023
- High school completion rate for Millennials: 92% by 2020
- 44% of Millennial women held STEM degrees in 2022
- Job satisfaction for Millennials was 55% in 2023
- Millennial MBA enrollment dropped 12% from 2010-2020
- 70% of Millennials upskilled via certifications in 2022
- Median earnings for Millennial bachelor's holders: $65,000 in 2022
- 33% of Millennials pursued lifelong learning post-college in 2023
- Millennial teacher retention rate was 75% after 5 years in 2021
- 61% of Millennials prioritized career growth in job searches 2022
- Doctoral degree gap: Millennial men 1.5% vs women 1.2% in 2021
- 48% of Millennial high school grads enrolled in college immediately in 2020
Education and Career Interpretation
The Millennial generation, armed with degrees and crippling student debt, treats the traditional career ladder like a jungle gym—strategically upskilling and job-hopping in pursuit of elusive work-life balance and meaning, while stubbornly remaining a few rungs behind where they expected to be.
Health and Well-being
- Millennial mental health days off work: 5.7 per year in 2023
- Obesity rate among Millennials was 35% in 2022, higher than Gen X at same age
- 42% of Millennials reported anxiety disorders in 2023
- Average sleep hours for Millennials: 6.7 per night in 2022
- Vaccination rate for COVID-19 among Millennials: 85% fully vaccinated by 2023
- 28% of Millennials had chronic conditions like diabetes in 2021
- Gym membership rate: 55% for Millennials in 2023
- Depression diagnosis rate doubled to 25% for Millennials post-2020
- Alcohol consumption: 60% of Millennials drink weekly in 2022
- 37% of Millennials used mental health apps in 2023
- Suicide attempt rate for Millennial women: 0.6% annually in 2021
- Vegan/vegetarian adoption: 12% among Millennials in 2022
- Average healthcare spending per Millennial: $4,500 yearly in 2023
- 51% of Millennials experienced burnout in 2022
- Cannabis use rate: 29% of Millennials in 2023
- Life satisfaction score for Millennials: 6.8/10 in 2021
- 65% of Millennials exercised 3+ times weekly in 2022
- Opioid misuse rate: 10% lifetime for Millennials in 2020
- Telehealth usage: 76% of Millennials in 2023
- 22% of Millennials reported long COVID symptoms in 2023
- Mindfulness practice: 40% daily among Millennials in 2022
- Heart disease risk factors present in 18% of Millennials under 40 in 2021
- 48% of Millennial parents vaccinated kids on time in 2023
- Smoking rate: 10% for Millennials in 2022, down from 25% in 2000s
- Happiness index: Millennials scored 5.9 vs national 6.9 in 2023
- Screen time average: 7.2 hours daily for Millennials in 2022
- 70% of Millennials prioritized mental health over physical in 2023 surveys
Health and Well-being Interpretation
The statistics paint a portrait of a generation striving desperately for wellness—hitting the gym and downloading meditation apps between anxious, under-slept workdays—only to find that the systems they navigate seem designed to keep them perpetually running on a treadmill of burnout, screen time, and costly coping mechanisms.
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