Gen Z Homeownership is Booming—Discover How They’re Beating the Odds
Gen Z is shaking things up in the housing market, stepping up as unexpected leaders in homeownership. They're moving faster than millennials and Gen X did at the same age, and it’s not just luck.
Despite facing obstacles like high home prices and low housing inventory, Gen Z is getting creative and finding ways to become homeowners earlier than anyone thought.
Gen Z is Outpacing Millennials and Gen X
In 2023, nearly 28% of 24-year-old Gen Zers already own homes. That's a bigger share than millennials or Gen X had at that age! This shift reflects Gen Z’s changing priorities and financial habits—they're adapting to the housing market more quickly and getting a jump start on homeownership.
How Are Gen Zers Affording Homes in Today’s Market?
Even though the real estate market is tough, Gen Z is figuring out how to make it work. A lot of them are moving to more affordable, smaller markets or taking advantage of remote work to live where housing costs less. This flexibility has helped them overcome some of the roadblocks that previous generations faced.
Gen Z’s Financial Smarts Are Paying Off
One thing giving Gen Z an edge is their financial knowledge. They’re more clued in on managing credit, budgeting, and saving for a down payment compared to millennials and Gen X at the same age. With so many online resources at their fingertips, Gen Zers are getting their finances in shape early, which is helping them achieve homeownership.
What’s Next for Gen Z Homebuyers?
As more Gen Zers buy homes, their impact on the housing market will only grow. Their demand for starter homes could push prices up in more affordable areas, shifting real estate trends. And as they continue to make waves, developers and policymakers may have to rethink how they approach housing affordability.
Gen Z is proving that with the right strategies and financial know-how, homeownership is possible—even in today’s challenging market.
If you're ready to take the next step toward owning your own home, now is the time to explore your options. Contact your local mortgage professional to learn more about financing options and how you can make your dream of homeownership a reality. Don’t wait—start your journey today!