Generational Divide in Homeownership: Gen Z Surges Ahead While Millennials Struggle

Gen Zers are tracking ahead of their parents' homeownership rate, with 30% of 25-year-olds owning their home in 2022, while millennials are tracking behind their parents, with only 62% of 40-year-olds owning their home in 2022. Many Gen Zers took advantage of low mortgage rates to become homeowners in 2020 and 2021, but those who didn't may struggle to break into the market now that housing costs have shot up. Millennials buy more homes than other generations, with 25-44 year olds buying roughly 60% of homes that sold over the last several years.