Housing affordability is certainly a factor for young professionals who must choose between renting and owning a home.
The good news for Gen Z is that the gap between renting and owning is smaller than it was for Millennials while incomes are higher, according to a recent RentCafe blog by Alexandra Both.
Zoomer's wanting to own figure to fork out an extra $21,000 compared to those who rent by the time they are 30— a 14% difference, Both reported. Millennials faced a much steeper difference of 36%. That's $46,000 more for Millennial owners compared to Millennial renters younger than 30.
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