Dual-income, no-kid (DINK) households are becoming a more common household type and driving economic trends.
With the advantage of two incomes and freedom from childcare costs, DINKs can prioritize experiences and personal growth over more traditional milestones like parenthood. While a recent Harris Poll survey indicates DINKs represent just 5% of the population, 61% report household incomes exceeding $100,000, far outpacing the overall share of Americans (41%).
“Dual-income, no kid households are becoming economic powerhouses, led by millennials,” says Ali Wolf, chief economist for NewHomeSource. “Oftentimes, people that fall into this lifestyle like to live by others of a similar mindset.”
For millennial dual-income, no kid (MDINK) households, living in areas with MDINKs can be beneficial because other couples likely have time to travel or more flexible budgets since they are also not paying for the costs associated with kids.
While the decision to remain child-free is deeply personal, several common factors are influencing couples and contributing to the rise of MDINKs:
It is more expensive to have children than ever before. As recently as 2017, the U.S. Department of Agriculture estimated a middle-class family would spend $284,594 to raise a child born in 2015 through age 17. A revised estimate by the Brookings Institution in 2022 found the cost to be $310,605.
The timing for kids is not right and may never be. With the economic realities of high housing costs and student debt burdens, parenthood is being pushed further down the road by many couples. Millennial couples may also place a priority on travel, career growth, or personal development with the knowledge that scientific fertility advancements mean they face less biological urgency than older generations.
A challenge rather than a choice. While many millennial couples are actively choosing child-free lifestyles, others are without children due to medical, financial, or logistical barriers. Infertility and underlying health conditions can prevent couples from having children while same-sex couples may struggle with the biological, financial, and legal complexities associated with adoption, surrogacy, donor insemination, and reciprocal IVF.
For MDINKs looking to live near others in their cohort, Denver tops the list of MDINK share per millennial household (13.4%). Austin (11.5%), Seattle (11.5%), Portland, Oregon (11.3%), and Boston (10.7%) also have MDINK shares per millennial households above 10%.
Major metro centers such as New York (442,000), Los Angeles/Orange County (273,000), Chicago (233,000), Dallas (174,000), and Washington, D.C. (171,000) are home the largest amount of MDINK households. Among other metros, San Francisco, Minneapolis, Philadelphia, Atlanta, Houston, Phoenix, and Miami all have more than 100,000 MDINKs.
Wolf says new home builders are more likely to build homes that cater to the preferences and life stage of MDINKs. Such popular features include home offices, entertainment spaces, walkable communities, pet-friendly features, and rooms to host and entertain.
