I am hoping to determine how many total millennial homeowners (ages 23-38 in 2019) there are in the U.S. by state (using as recent of data as possible). Could you possibly help me determine which variables would be the most appropriate and which weights to use?
Would I need to use the OWNERSHP and RELATE variables as described in this blog post?
Thanks for any help you might be able to provide,
Matthew
The post you linked by Joe Grover is still valid and covers most of the issues you should consider. I would suggest looking at the same variables in the ACS data available through IPUMS USA, which has a much larger sample size. Since there’s not clear data on joint homeownership (at least in the CPS or ACS), you may want to report on the number of homes owned by millennials, instead of the number of millennials who own homes. In that case you would keep only those people with PERNUM=1 and use HHWT and conduct the analysis at the household level. If you want to try to identify the number of joint owners as well (e.g. by counting spouses of the householder), then you would use PERWT.