M(b) - Millennial Spending Flyer

MILLENNIAL SPENDING

Spending Patterns of Americans Born In or After 1981
2018 Consumer Expenditure Survey
Household Characteristics

29
1.5

Average age of
household respondents.
Average number of earners
in millennial households.
of millennial households
rent rather than own a home.

58%

of millennial households
that purchased a vehicle
bought a used car or truck.

Average Income
Before Taxes

D

$52,874
45.3

41.7

34.7%

Transportation
$9,435

17.8%
Food

$7,061

13.4%

Health Care
5.4%

Entertainment
$2,391
4.5%

Total Average
Annual Expenditures

47.3

$18,329

$2,831

R

$67,076

Housing

AF
T

63%

Percent
of Household
Budget

Average
Annual
Expenditures

35.7

Apparel and Services
3.7%

$1,979
Other
$10,848

20.5%

Millennials spent a higher percentage
of their food budget on meals away
from home than Generation X,
Boomers, and the Silent Generation.

Millenials Generation X Boomers
Form No. CE-200(b) (2020)

Silent
Generation

Source: 2018 Consumer Expenditure Survey

Bureau of Labor Statistics
U.S. DEPARTMENT OF LABOR

bls.gov/cex