"Gen Z has grown up during a time of rapid change in the housing market, 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."
"About one-third of Gen Z respondents interested in buying a home have already started saving for a down payment. 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."
Gen Z faces significant housing affordability challenges while maintaining strong interest in homeownership. Many prioritize career growth, early saving and realistic budgets to bridge the gap between desire and financial readiness. About one-third have already started saving for a down payment and expect to need roughly $54,546 on average. Respondents commonly pursue side jobs, cost-cutting, relocation to affordable markets, employer changes or raises to meet goals. Fewer respondents prefer riskier options like stocks, cryptocurrency, family loans or roommates. A readiness gap exists: 46% feel somewhat ready to buy, but only 36% feel financially prepared, with gender differences in milestone priorities.
Read at www.housingwire.com
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