Millennials may have trouble paying off their student loans, but they still have enough money to afford dog food.

A new survey released Friday by the American Pet Products Association found that generation Y and millennials have surpassed baby boomers as the generation demographic with the most pets. The younger generations account for 35 percent of all pet owners.

The biennial survey—which weighs in at more than 600 pages—concluded that 68 percent of American households own a pet, accounting for 84.6 million pet-owning households. The figure has risen from 79.7 million pet-owning households in 2015.

Young people love pets, but not necessarily cats and dogs, according to APPA CEO Bob Vetere.

"Millennials may be the largest generation segment of pet owners in general, but they also account for more than half of reptile, small animal and saltwater fish owners," Vetere said. "This is a very passionate, active and connected group, and it's been very exciting to see the ways in which our industry is working to meet the demands of this powerful demographic."

The survey also found:

• 85 percent of owners believe pets are a good source of affection,
• 82 percent agree that interacting with a pet can help them relax,
• 81 percent are aware that owning a pet can be beneficial to their own health,
• 81 percent feel unconditional love for their pet,
• 61 percent feel buying a pet product made in the USA is important to them.

AAPA sells copies of the survey results starting at $1,500 for members and $3,500 for nonmembers. http://bit.ly/2oGTUp4

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