Gen Z Is Saving Early To Become Homeowners

By HOM Editor

Generation Z is ambitious about homeownership, and it shows through their savings habits.

According to a new survey conducted by realtor.com®, Gen Z-ers (ages 18 to 24) interested in homeownership are two times more likely than previous generations to be saving or plan to be saving for a home by age 25 with two of five Gen Z-ers aiming to become homeowners by that age.

Gen Z-ers don’t just want to become homeowners; they want to do it at a younger age and we found that they’re saving or planning to save for it accordingly,” said Danielle Hale, chief economist at realtor.com®.

The survey was conducted in conjunction with Harris Interactive, which included responses from 3,372 Americans across Generation X (ages 35 – 50), millennials/Generation Y (ages 25 – 34) and Generation Z, to better understand the generational differences in relation to homeownership and aspirations.

Each of the groups were asked why they did/do want to become a homeowners.*

Answers: Gen Z Millennials Gen X
I want to customize my space 61% 54% 47%
It’s how I want to raise my family 55% 55% 46%
Financially able to afford a home 37% 43% 39%
Real estate is a good investment 29% 38% 39%
I want to live the American Dream 29% 37% 35%
Want to put down roots in a particular community 27% 34% 32%
There are tax benefits to homeownership 16% 23% 29%

* Asked only of those who answered “yes” or “maybe” to desiring homeownership

Read more: Zealous Gen Z: Saving Early To Be Homeowners By Age 25, from realtor.com®.


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