When you think of an RV owner, you might picture a slightly older person or retiree who has decided to downsize their life and head out on the road for any number of reasons — to travel, spend more time in nature, manage a smaller household or save money. But RV ownership has shifted over the past few years — in fact, it’s gotten younger and more diverse.
Read on to learn more about how the demographics of RV ownership are shifting.
More freedom and flexibility
For many young people, spending time and money on travel and having the flexibility and freedom to go where and when they please may be important aspects of a fulfilling life.
A 2021 study showed that younger generations, including millennials and Gen Z, have embraced RV ownership at a significant rate. And of 500 people surveyed in 2022 who live in RVs full- or part-time, half were 18-44 years old.
The popular #VanLife movement on social media has also glamorized living on the road and the perks of a more nomadic existence. Younger people may not feel tied to one place or the need to have a more traditional home base.
For those with a remote job, an RV could provide a welcome change of pace and new scenery — as long as the Wi-Fi connection is strong enough.
Less expensive than a mortgage
In a time when it’s increasingly difficult to afford a mortgage, many younger people are gravitating toward more affordable housing options.
While the cost of an RV can vary widely depending on the model, style and amenities, RVs potentially offer a more attainable housing option with possibly fewer household bills. If you’re open to a pre-owned RV, there are a lot of deals to be had in a variety of price ranges.
An RV loan from a bank, credit union or online lender could help you get the money you need to buy an RV or fix or renovate a pre-owned model.
With an RV loan, you can pay back what you owe in predictable monthly payments with fixed terms and interest, which makes it easier to fit into your budget.
Keep in mind that while there are potential cost-saving benefits to living in an RV or using one for summer travel, there are expenses you can’t ignore, such as gas, insurance, maintenance and the price of campground access.
Also, keep in mind routine everyday expenses, such as food and groceries, clothing and personal care and pet supplies if your pet is traveling with you.
Family-friendly
Young families are also part of the growing trend of new RV ownership. Just as remote work has allowed many adults to take to the road, virtual schooling and homeschooling options enable kids to travel throughout the school year and make the most of their time in the great outdoors.
Being able to take your kids on the road in an RV, where there is ideally enough space for everyone, can be a more affordable option than flying or renting a car and paying for a hotel room or long-term stay. Plus, you can make impromptu stops along the way to see the sights and experience new memories as a family.
A way to explore interests and passions
Living or traveling in an RV gives people greater access to spending time in nature, exploring the world around them and enjoying hobbies like fishing, swimming, camping, biking and four-wheeling.
Because of the changing demographics of RV owners, campgrounds are changing their offerings, too. Community-building activities help people meet each other, develop a network and find new work opportunities. There are even dog runs for the pets that accompany their owners on the road.
RVs are growing in popularity among younger owners
Given recent trends in RV ownership over the past few years, it’s possible owners will only continue to get younger and more diverse as time goes on.
s new generations continue to embrace the benefits of RV life, including increased flexibility, potential cost savings to owning a traditional home, making memories on the road as a family and exploring interests and passions in nature, RVs may become even more affordable and accessible to a wider audience.
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