Older millennials are pulling away from the pack in the housing market—and they’re dominating the ‘hobbies’ economy, too

Older millennials are surpassing their younger counterparts in both housing and hobby spending, according to a Bank of America Institute analysis. These individuals, born between 1978 and 1988, are outspending Gen Z, Gen X, baby boomers, and even younger millennials when it comes to hobby-related expenditures. In fact, their hobby spending is more than double that of Gen Z, based on an index that sets Gen Z spending at 100.

This trend is mirrored in the housing market, where older millennials now dominate as the highest-earning homebuyers and are more likely to be repeat buyers, moving into larger homes as their families and incomes grow.