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House Hacking? All The Young Homeowners Are Doing It

  • November 16th 2023

by UrbanTurf Staff

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High down payments and higher interest rates are pushing younger homeowners to get creative in order to pay the mortgage. And house hacking is becoming more common as a result.

House hacking is the term that has been coined to describe homeowners renting out a portion or all of their home for extra income, and a recent Zillow survey found that it is becoming increasingly popular. 

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"Data from Zillow’s Consumer Home Trend Report indicates that more than half of Millennial and Gen Z buyers view the opportunity to rent out their entire home for rental income as “very” or “extremely” important," the survey stated.

The survey found that 39% of homebuyers believe that it is as important to be able to rent out a portion of their home as live in it, an 8% jump compared to 2021. 

UrbanTurf readers, are you renting out all or a portion of your home to help with the mortgage? Email us at editor(at)urbanturf.com and let us know.

See other articles related to: house hacking

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/house_hacking_all_the_young_homeowners_are_doing_it/21698.

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