When it comes to homeownership, Gen Z is realistic about the challenges they face, but they’re not giving up on the dream. A new Realtor.com® survey of 1,000 adults aged 18–27 who currently own or hope to own a home found that 82% of respondents believe it’s harder for their generation to buy a home compared to previous ones, and 16% say housing affordability is among their highest concerns.
Even with these affordability headwinds, Gen Z remains determined. Two-thirds (67%) of respondents see homeownership as an important lifetime goal, while 69% agree real estate is an opportunity to generate wealth. More than half (51%) consider homeownership to still be part of the American dream.
With this acknowledgement of the significance of buying a home, almost half of the respondents say they feel ready to buy a home, though just 36% feel they are financially ready.
Career growth comes first
Among surveyed Gen Z adults, career advancement ranks as the top milestone, with 49.5% listing it first, ahead of buying a house, getting married, or having children. Gen Z ranges in age from 13 to 28, with the oldest constituents a decade younger than the median age of the first-time homebuyer. Prioritizing career growth at this stage tracks as the best first step to affording a home someday. The majority of respondents (82%) confirm this, saying that a higher-paying job would make them more eager to buy. Moreover, 80% say they may desire to buy a home more if they could afford it.
There’s a small gender gap in priorities: 52% of Gen Z women prioritize advancing their careers over other milestones compared to 45% of Gen Z men. Moreover, nearly 1 in 4 (23.7%) men ranked buying a home as their first goal versus 19.4% of women. This narrow gap could be the result of male respondents already feeling further along in their careers or already earning enough that homeownership feels closer.
While 46% of respondents feel at least somewhat ready to buy a home, only 36% feel financially ready, underscoring that affordability, not motivation, remains the biggest barrier.
Preparing for the dream: How Gen Z is saving
Despite lim