- 12.3 percent of millennial renters plan to always rent—up from 10.7 percent nationally year-over-year.
- 9.8 percent of the U.S. population moved in the past year—the smallest number since 1948.
- 17 percent wanted a new /better home or apartment of those who moved in 2019. Over 12 percent moved for a new job or transfer.
- 2.9 percent rise in wages from Sept. 2017 to Sept. 2018—the largest wage increase in a decade (not counting for inflation)
Rent fuel: jobs
- Labor-force participation is now 63.3 percent, a solid gain from 62.9 percent year-over-year.
- Strong employment growth among millennials (25-34) is helping power a surge in household formations.
- Average hourly earnings rose 0.2 percent in Oct., even with the GM worker strike and baby boomers retiring at peak career earnings.
- Robust job growth has also helped support consumer spending, which helped the U.S. economy power ahead.
- Hiring has slowed to 176,000 in payroll gains for the last three months but still exceeds population growth.