The fastest growing generation of pet parents are those aged 25 to 34, including Millennials and Gen Z. However, while more households in this age group still care for children (30.8%) than pets (22.9%), the gap has narrowed over the past 20 years. Between the ages of 45 and 54, the split evens out, and people are just as likely to care for children as they are to care for pets. At age 55, the odds change in the opposite direction. By then, this age group is more likely to care for pets and is just beginning the transition to retirement.
According to May 2024 data from Statista Research Division, in the U.S., 4 in 5 (82%) Millennials are most likely to consider their pets to be children. Yet, based on BLS data, they spend the least on pets. (Due to a reporting error, the dataset did not compare numbers for Generation Z.)
This counterintuitive relationship may provide insight into the decline in households with children. Because wage growth has not kept pace with rising housing costs, many adults now spend years developing their careers before they can afford to start a family and care for them, according to BLS and Federal Housing Finance Agency data. must be prioritized. In 2022, the most recent year measured, home price-to-income ratios reached record highs in many metropolitan areas, according to a study by Harvard University’s Joint Housing Research Center. Additionally, the proportion of young workers with employers that offer health insurance has fallen sharply since 1989, making it even more difficult for those who need to care for their mothers or provide health insurance for their children.
While it’s true that the birth rate for Millennials and Gen Z combined is declining, this could still change. According to 2021 data from the CDC, as of 2024, approximately 1 in 5 Americans will choose to have their first child after age 35, and the average age of first-time mothers will be 27.5 years old. It has reached an all-time high and continues to rise. . But no matter how family structures and relationships continue to evolve, pets seem to be here to stay for the foreseeable future. As the animal shelter population continues to grow, we hope that more families will adopt multiple animals.
Story editor Karen Zhao. Additional editing by Kelly Glass. Copy edited by Paris Close. Photo selection by Lacey Kerrick.
This story originally appeared on Ollie and was produced and distributed in partnership with Stacker Studio.
