Millennial Buyers Prefer Better, Not Bigger Homes
Millennial buyers say they are willing to compromise when it comes to space. A National Association of Home Builders (NAHB) analysis found that millennial buyers prefer more square footage than other generations, but most would choose a smaller feature-rich home for the same purchase price.
“Buyers are willing to make compromises to find the best possible home for their families,” said NAHB Chairman Buddy Hughes, a home builder and developer from Lexington, N.C. “Our nation’s builders are willing to meet buyers where they are and construct a high-quality home to meet their family’s needs.”
According to NAHB, Millennial buyers say they want a home with a median of 2,408 square feet, the most requested amount of interior space compared to other generations, according to NAHB. However, more than half (52%) of millennial home buyers say they would rather purchase a smaller house with higher-quality products and amenities than a bigger one with fewer amenities.
Data from the U.S. Census Bureau confirm that builders are constructing smaller homes. The median home size dropped from 2,200 square feet in 2023 to 2,150 square feet in 2024—the lowest in 15 years—after holding strong at 2,300 square feet from 2019-2022. To increase overall living space, builders are adding porches and patios to the exterior of homes.
