Homeownership has never been easy, but for today’s younger buyers, the path looks different than it did for their parents. High home prices, elevated mortgage rates, rent, and student loans have pushed many first purchases later in life.
According to the National Association of REALTORS® 2025 Profile of Home Buyers and Sellers, first-time buyers made up just 21% of purchases, a record low, and their median age reached 40, an all-time high.
Still, many Gen Z and millennial buyers are finding creative ways into the market. Here’s what they’re doing differently.
1. Buying Solo
Younger buyers aren’t waiting for a partner to purchase a home. NAR’s 2026 Home Buyers and Sellers Generational Trends Report found that 53% of Gen Z buyers purchased without a partner, with single women making up the largest share of those buyers.
2. Getting Help With the Down Payment
Family support has become a common part of the equation. Among first-time buyers, 22% used a gift or loan from family or friends toward their down payment, and many also tapped financial assets like stocks or retirement savings. Younger buyers are also more likely to explore down payment assistance programs, which many states and local governments offer as grants or low-interest loans to eligible buyers.
3. Co-Buying With Friends or Family
Some buyers are teaming up with siblings, parents, or friends to share costs and qualify for more home. Co-buying can work well, but it’s important to put a clear written agreement in place covering ownership shares, expenses, and what happens if someone wants to sell.
4. Starting Smaller or Looking Farther Out
Many younger buyers are prioritizing getting into the market over finding the “forever home.” That can mean condos, townhomes, smaller single-family homes, or neighborhoods a bit farther from the city center. Some are relocating to more affordable metros altogether.
5. Thinking Like Investors
“House hacking” is on the rise, with buyers renting out a room, a unit in a duplex, or an accessory dwelling unit (ADU) to help cover the mortgage. For many, the first home is both a place to live and a long-term financial tool.
6. Doing Their Homework Online, Then Getting Guidance
Younger buyers start their search on their phones, comparing listings, neighborhoods, and mortgage calculators. But they still value expert help: 88% of all buyers worked with a real estate agent on their purchase. Negotiation, contracts, inspections, and financing are where local guidance makes a real difference.
Tips for Younger Buyers Getting Started
- Check your credit and pay down high-interest debt where possible.
- Get pre-approved to understand your true budget.
- Explore loan options. FHA, VA, and some conventional loans allow lower down payments.
- Research assistance programs in your state, county, and city.
- Budget beyond the mortgage for property taxes, insurance, HOA dues, and maintenance.
- Remember timing matters. Fall often brings more listings and less competition from other buyers.
Your Path to Homeownership Starts Here
Every buyer’s journey looks different, and there’s no single “right” age to buy. If you’re curious about what’s possible for you, let’s connect to talk through your goals, budget, and options for getting started.
