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Gen Z Homeownership Rates Stall Amid Rising Costs and Economic Uncertainty

A new Redfin report shows Gen Z homeownership rates have stagnated since 2022.

By GlobeSt.com Staff | March 24, 2025 at 02:42 PM

The momentum that young Americans once had in the housing market is now stalling, with new data from Redfin revealing that homeownership rates among Gen Z have remained flat in recent years. The report found that just over one-quarter (26.1%) of Gen Zers owned their home in 2024, a figure that has barely moved from 2023 and 2022. This marks a notable departure from the trend seen in previous years, as the Gen Z homeownership rate had consistently increased since the cohort first reached homebuying age in 2017.

A similar stagnation is being observed among millennials, with the homeownership rate for this generation holding steady at 54.9% in 2024. Before this, the millennial homeownership rate had steadily grown each year since 2012. In contrast, older generations such as Gen X and baby boomers have continued to see slight increases in their homeownership rates. For example, 72.9% of Gen Xers owned their home in 2024, up from 72% in 2023.

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