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Marriage and family formation are two of the most powerful motivations for ho-
meownership, so these delayed lifestyle choices tend to also delay the desire for
homeownership. However, the earning power benefits of higher educational at-
tainment are real.

Is the Investment Paying Off?

With all this time spent furthering their educations, and potentially accruing so-
me student debt in the process, are millennials reaping the benefits of their in-
vestment? According to our analysis, the investment in pursuing higher educa-
tion continues to deliver significant earning power benefits.
Millennials (ages 25 to 37) with a bachelor’s degree have a median household
income of $86,600. That’s more than $35,000 higher than millennials with just a
high school degree, whose median household income is $50,600. The discre-
pancy is even greater for millennials with no high school degree, which have a
median household income of $28,200. The earning power benefit improves
along with greater educational achievement. Millennials with at least a graduate
degree have a median household income of $100,600, nearly double that of mil-
lennials with just a high school degree.The level of educational attainment
seems to matter when it comes to income growth, as well. When comparing a
36-year-old millennial to his/her younger self one decade ago, we find that those
with a graduate degree or higher experienced and 74 percent increase in house-
hold income, compared with those without a higher degree, who only experien-
ced a 19 percent gain in the decade between 26 and 36 years of age. So, the
sacrifice of those early mornings, all-nighters and hours in the library pays off big
time.