Millennials are the most educated generation in the U.S. but, in order to afford a home, they may need even more education. Atlantic staffer Kriston Capps reports on the link among education, income, and home ownership.
Simply put, more education means more income, which can be put towards mortgages and down payments for homes. While the difference in home ownership rates between those with high school diplomas and those with at least a bachelor's degree was only 15 percentage points in 1990, that rate jumped to 28 percentage points in 2015. Disparity is also seen in their monthly earnings:
The median monthly earnings for a young adult with a bachelor’s degree grew 13 percent between 1984 and 2009. Households with a master’s degree also saw their incomes rise. But those without a college degree—meaning people with an associate’s degree, a high-school diploma, or no diploma—saw their median monthly earnings decline between 1984 and 2009.