Nearly one in five members of Gen Z say housing affordability is their top life concern, according to a new survey from Риэлтор.com.
The survey of 1,000 adults ages 18 to 27 found that 82% of Поколение Z respondents who either own a home or hope to own one believe buying a home is harder for their generation than for previous ones.
Despite these challenges, 67% said домовладение is an important lifetime goal, 69% view недвижимость as a way to build wealth and 51% said owning a home is a key part of the American dream.
“Gen Z has grown up during a time of rapid change in the Рынок жилья, and they’re approaching homeownership with clear eyes,” said Danielle Hale, chief economist at Realtor.com. “They know affordability is a major hurdle, but they’re not giving up on the dream of owning a home.
“Instead, they’re adapting, focusing on career growth, saving early and being realistic about what they can afford. That determination and flexibility will serve them well as the market evolves.”
Saving for a down payment
About one-third of Gen Z respondents interested in buying a home have already started saving for a авансовый платеж.
On average, they expect to need roughly $54,546 to purchase a home — less than 20% of the national median list price of $425,000 but higher than the average U.S. down payment of $30,250 recorded in late 2024.
To reach their goal, many are turning to side jobs or cost-cutting strategies.
Thirty-three percent said they have taken or plan to take an additional job or side hustle to save for a home. Others said they are considering relocating to more affordable markets, changing employers or requesting raises.
Fewer respondents expressed interest in riskier or more dependent methods such as investing in stocks or cryptocurrency, borrowing from family or taking on a roommate to offset costs.
Affordability and career goals
The survey found a gap between respondents’ general readiness for homeownership and their financial preparedness.
While 46% said they feel at least somewhat ready to buy a house, only 36% said they are at least somewhat financially ready.
Many Gen Z respondents said they are prioritizing career advancement over buying a home, getting married or having children. Nearly half — 49.5% — ranked career growth as their top milestone, followed by buying a home, marriage and then starting a family.
A gender divide also appeared; 52% of women prioritized career advancement first compared to 45% of men.
Conversely, 23.7% of men ranked buying a home as their top goal compared to 19.4% of women.
The majority of respondents — 82% — said a higher-paying job would make them more eager to become homeowners, while 80% said their desire would increase if they could afford it.
Roughly half — 51% — said they are highly concerned about housing affordability in the future, and 16% ranked it as one of their highest life concerns.
English