Nielsen recently released their report “Millennials – Breaking the Myths” and today I want to focus on the information reported about Hispanic Millennials.
Of the 77 million Millennials, 19% are Hispanic. This group (age 18-36) is the most racially and ethnically diverse than any previous generation. According to this report, Nielsen expects the Hispanic population to grow by 167% by 2050.
Millennials are 14% first generation, and 12% second generation Americans, keeping strong ties to their home country, culture and language. For example:
1. 63% of the Millennials feel it is their responsibility to care for an elderly parent, according to Nielsen: “this is partially tied to the ethnic diversity of the generation. Typically ‘Hispanic and Asian Americans’ have cultural expectations that elderly family members will be cared for by the younger generations.”
This can help you to understand why when a Hispanic Millennial is looking for a home, they are requesting that extra bedroom.