While the majority of Boston millennials are still renters, a rapidly growing percentage of them are becoming homeowners, according to new research from RentCafe.

The rental company analyzed 107 U.S. metros using data from the Institute for Social Research and Data Innovation at the University of Minnesota. Results revealed that despite a surge in millennial homeownership in Boston, a majority of the generation still rents.

Between 2018 and 2023, the number of millennial homebuyers in Boston surged 75.7%. Nationally, that number grew by 74%. This year, the renter-owner split currently sits at 47.6%/52.4% nationally and 52.3%/ 48% in Boston, placing Bean Town at No. 16 nationwide for millennial renter concentration.

Springfield is following a similar trajectory. Following an 80% surge in millennial homebuyers between 2018 and 2023, 51.1% of this demographic rents while 48.9% own homes.

“The homeownership momentum is building steadily, making Springfield one of Massachusetts’ most accessible markets for millennials who want to switch from renting to owning,” RentCafe Communications Specialist Esther Urmosi told Boston Agent magazine.

But this isn’t the case in every Massachusetts metro. In Worcester, 55.4% of millennials crossed the homeownership threshold after an 80% surge between 2018 and 2023.

Urmosi added, “Compared to Boston, Worcester offers a more attainable path to homeownership, and millennials are taking advantage of it.”