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Young Americans See Modest Gains in Homeownership Amid High Costs

KVIA•Tuesday, January 27, 2026 at 9:19 AM•Stacker

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AI Summary

A recent analysis by Redfin reveals that homeownership rates for Gen Zers and millennials have seen slight increases from 2024 to 2025, with 27.1% of Gen Zers and 55.4% of millennials owning homes. Despite these gains, both generations still lag behind their parents' homeownership rates at the same age due to ongoing affordability challenges and economic uncertainty. The average mortgage rate dropped from 7% to 6.2% in 2025, allowing some young buyers to enter the market, yet the median income still falls short of the $112,000 needed to afford a median-priced home. Asad Khan, a senior economist at Redfin, emphasizes that while young buyers are eager to purchase homes, they often make compromises due to high costs.

Key Details: • 27.1% of Gen Zers and 55.4% of millennials owned homes in 2025. • Average mortgage rates fell from 7% to 6.2% over the year. • Young buyers need to earn $112,000 to afford the median-priced U.S. home. • 20-29 year-olds accounted for 18.5% of all home purchases in 2025.

economy housing affordability real-estate homeownership

People & Organizations

RedfinAsad Khan

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