Are more Gen Z young adults becoming homeowners? The median first-time homebuyer is now 38-years-old, but according to the National Association of Realtors, 4% of homeowners were 18-26-year-olds last year, up from 3% the year before. (Though YPulse must note this change is within a margin of error for surveying.) Amid soaring housing costs and a turbulent job market, a small but growing share of young people are saving up, grinding, and even relocating to achieve their homeownership dreams. Their average salary was $76K, but these buys are happening in more affordable cities like Milwaukee and Pittsburgh. They aren’t all doing it by themselves; 16% received a loan gift from their parents, though this is lower than the 25% average of all homebuyers. Additionally, 35% of Gen Z buyers in their 20s were single women—the highest share of all gens. (NPR)
👀 Read more from YPulse: This Is the Age Gen Z Thinks They Should Buy a Home, Have Kids, and More
