Gen Z Emerges as Homeowners Ahead of Millennials and Their Parents, New Study Shows

According to a recent study, Gen Z is leading the way in homeownership, surpassing both their millennial counterparts and their parents’ generation. The study found that Gen Z, which includes those born between 1997 and 2012, is prioritizing homeownership at an earlier age and achieving it at a faster rate than previous generations.

The study surveyed over 1,000 Gen Z adults and found that 83% of respondents see homeownership as an important goal, and 65% already have a savings plan in place to achieve it. This is a significant increase compared to previous generations, where homeownership was not seen as a top priority until later in life.

One of the reasons for this shift could be attributed to the current real estate market. With historically low-interest rates and a surge in demand for housing, many Gen Zs see this as an opportunity to enter the market at a younger age.

The study also found that Gen Zs are taking advantage of alternative paths to homeownership, such as co-buying with friends or family members. This approach enables them to pool their resources and increase their buying power in a highly competitive market.

Furthermore, many Gen Zs are utilizing technology to their advantage, with 77% of respondents using online tools to research and plan their home purchase. With the rise of virtual home tours and digital mortgage applications, the home buying process has become more accessible and streamlined than ever before.

While millennials and their parents may have faced challenges such as rising student debt and a recession, Gen Zs are entering the housing market with a different mindset and strategy. This younger generation is taking a proactive approach to homeownership, setting goals at an earlier age, and utilizing all available resources to achieve them.