loading...

House Hacking? All The Young Homeowners Are Doing It

  • November 16th 2023

by UrbanTurf Staff

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. 

hacking.jpg
Click to enlarge.

"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 https://dc.urbanturf.com/articles/blog/house_hacking_all_the_young_homeowners_are_doing_it/21698.

DC Real Estate Guides

Short guides to navigating the DC-area real estate market

We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!