This document summarizes a survey of millennials (ages 18-34) living in California. It finds that one in five millennials are homeowners, 41% are renters, and 36% live with their parents. Millennials are more likely to be renters than homeowners due to their lower incomes and higher rates of student and other debt that make it difficult to qualify for mortgages. While millennials aspire to homeownership, many are uncertain or doubtful they could obtain a mortgage currently due to affordability concerns. The survey also finds that most millennial renters expect to purchase a single-family home within the next five years and prefer suburban locations with more land.