But before you get too excited, consider that the same report reminds us that the average Millennial will have to save nearly 12 years to afford a standard 20 percent down payment. So it should come as no surprise that the overwhelming majority of the generation living in the region are renting (and we know what's happening to those rates), putting off homeownership until later or entirely. Nationally, the generation makes up less than 8 percent of homeowners.