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Baby Boomers living in one- or two-adult households own 25.1 percent of large homes in Greater Boston, while Millennials with children own just 16.1 percent, according to a new report from Redfin.
“Younger buyers are looking to move into single-family homes in specific neighborhoods, those with a family friendly vibe and highly rated schools,” Brenda Beiser, a Philadelphia-based Redfin Premier agent, said in a statement. “The problem is, younger families have a hard time finding those homes because the older people living in them can’t find anywhere they want to move to. I hear empty nesters say they want to downsize, but it’s hard to find move-in ready, small, one-story homes or condos in their price range–especially since many of them are living in a fully paid-off home. So there’s a lack of movement that’s keeping both older and younger buyers where they are, even though the older ones want a smaller home and the younger ones want a bigger home.”
Baby Boomers living in one or two-adult households own 28 percent of large homes across the country, while Millennials with children living at home own 16 percent of those houses. Gen Z households with children own just 0.7 percent of large homes in the United States.
Along with the homes being held by other generations, Millennials are also struggling to afford homes. Twenty-eight percent of Millennials aren’t buying a home in the near future because mortgage rates are too high, the most commonly cited reason for not buying among people in that age group who are either renters or long-term homeowners unlikely to move soon, according to a November 2025 Redfin study. Twenty percent aren’t buying a home soon because they’re unable to save for a down payment.
Baby Boomers, on the other hand, have little incentive to move – 57.8 percent of Baby Boomer homeowners have no mortgage, Redfin data shows – and repeated surveys show the generation’s members generally prefer to age in place rather than downsize. Local experts say the region’s shortage of modestly priced senior-oriented housing is a major contributing factor.
