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By Rachel Lewis
July 27, 2017
The rooftop dog park at City Market at O Street apartments is busy at the end of the workday, October 7, 2016, in Washington, DC. As new apartment buildings continue sprouting around downtown DC, developers know that a large percentage of renters in the city have dogs and make their choices of buildings based largely on pet-friendliness.
The rooftop dog park at City Market at O Street apartments is busy at the end of the workday, October 7, 2016, in Washington, DC. As new apartment buildings continue sprouting around downtown DC, developers know that a large percentage of renters in the city have dogs and make their choices of buildings based largely on pet-friendliness.
Evelyn Hockstein—The Washington Post/Getty Images

It’s no secret that millennials love dogs and now their four-legged friends are starting to influence the decisions they make about housing.

A recent survey by SunTrust Mortgage found that a third of millennials who had already purchased their first home said they were influenced by the need to have space for a dog.

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The survey asked recent home buyers why they were buying their first home and their dog was the third most commonly cited reason, coming above children and marriage. Only more living space and the opportunity to build equity came above the furry companions.

“Millennials have strong bonds with their dogs, so it makes sense that their furry family members are driving home-buying decisions,” said Dorinda Smith, SunTrust Mortgage CEO. “For those with dogs, renting can be more expensive and a hassle; home ownership takes some of the stress off by providing a better living situation.”

The survey also found that 42% of millennials who had never bought a home said that their dog, or the desire to have one, would be a key factor in their decision to get on the property ladder.

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The purpose of this disclosure is to explain how we make money without charging you for our content.

Our mission is to help people at any stage of life make smart financial decisions through research, reporting, reviews, recommendations, and tools.

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Our content is free because our partners pay us a referral fee if you click on links or call any of the phone numbers on our site. If you choose to interact with the content on our site, we will likely receive compensation. If you don't, we will not be compensated. Ultimately the choice is yours.

Opinions are our own and our editors and staff writers are instructed to maintain editorial integrity, but compensation along with in-depth research will determine where, how, and in what order they appear on the page.

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