As Gen-Z reaches their twenties, the homeownership of their parents seems to be a distant pipe dream as opposed to the reality of their situation. Interest rates are climbing while the job market offers slim opportunities — starting a mortgage seems an absurd notion. This American milestone has been kicked so far down the road it’s almost completely out of sight. Is this adulthood?
Of the 68 million people in Gen-Z, only about a quarter own their homes — a notable decline compared to previous generations, despite Gen-Z being the most savings-conscious group in modern history. Many early careerists simply aren’t earning enough to afford a home, leading to a rise in “perpetual rentership.” For a generation that came of age during economic and existential uncertainty, the idea of “home” has begun to shift for many Gen-Zers. Status is no longer universally tied to ownership, but how a space supports their vision of the future.
To better understand this shift, Brokerverse spoke with three Gen-Zers across the homeownership spectrum: a 22-year-old couple that owns a home in a suburb of Ohio, a 23-year-old renter in New York City, and a 21-year-old real estate agent based in Charlotte, North Carolina.
The buyer
Brokerverse sat down with a married couple, Nick and Ragean (who choose to keep their last names private), in their newly renovated back patio. The screened in porch with a table and outdoor seating area seemed at once a reflection of the comfort they felt in their home — its charming, low-key decoration filled the space with personality and set everyone immediately at ease. Before becoming homeowners, the couple rented a modest apartment for two years while living off a single income in order to save for a down payment on their current home, where they’ve lived for a year and a half.
Now 22, Nick and Reagan operate a dual-income household; one, an elementary school teacher and the other an Operations Manager for a commercial seed company. As a result of wise and fortunate decision making they were able to afford the initial cost of their “fixer-upper,” which has now, as Brokerverse proudly reports, been thoroughly “fixed-up.”
We asked if homeownership was always a goal for the couple, to which they responded with an immediate, resounding, “Yes.” Nick traces his desire for homeownership back to childhood. He remembers his dad being more present — “for games, and sports… he was so much more involved” — once their family had finally settled into a home. That stability, that sense of shared space, made a lasting impression. For Nick, “home” became synonymous with community and closeness. So when the opportunity finally came, when it was financially possible, he and Reagan were quick to build that same kind of foundation for themselves.
The luck of being able to rely on one income while saving the other became the most significant factor in being able to afford their desired lifestyle. The buyer should be clarified, then, as buyers, as it isn’t a conceivable possibility with a singular income.
Nick and Ragean clarified that this wasn’t a starter home, it was a residence they intended to permanently reside in. The concept of a “starter home” — a small, affordable first house that previous generations used as a stepping stone to something bigger — no longer holds the same appeal for today’s buyers. For many in Gen Z and younger Millennials, these homes are either no longer affordable or no longer practical. Skyrocketing prices, high interest rates, and limited inventory have made even modest properties feel out of reach. And for those who can buy, there’s growing skepticism about the logic of buying a home just to trade up a few years later. Instead, today’s buyers are often holding out longer, aiming for homes they can stay in for the long haul.
“Even if we wanted to have three kids we’d be satisfied here for life, and I don’t even want three kids,” said Nick. Their home sits at the center of it all, just a bike ride from the ice cream shop, minutes from top-rated schools and nestled in a quiet, tree-lined neighborhood that feels like classic suburbia.
For these buyers, homeownership isn’t just a financial goal — it’s a hard-earned milestone, the point at which they can finally put down roots. They see it as something to be cultivated over time, much like the garden on the way out: carefully tended, deeply personal, and undeniably theirs.
The luxury of their purchase, however, isn’t something obtainable everywhere, nor is it realistic. The average cost of a home in Ohio is $247,000. While this may be below the national average, it’s rising at a rate of about 11% yearly, and higher in more metropolitan areas like Cleveland and Columbus, resulting in a decline of homeownership in the state — currently only 64% of people own a home across the state. Responsible saving and being fortunate enough to live off of one income while saving the other allowed this couple to find their forever home, yet not all Gen-Z is looking for that, nor do they even deem themselves ready for it.
The renter
When Brokerverse connected with a New York City renter who asked to remain anonymous, their entire apartment fit neatly within the Zoom frame — for $1,100 a month. They spoke with optimism, even ease, about the idea of homeownership — not as a distant dream, but as a future goal they were steadily working toward.
The main hurdle was financial. As an actor in Manhattan, their inconsistent income barely covered rent in Washington Heights — let alone a mortgage. Their income is just enough to cover half of the space’s rent. For the time being, the renter isn’t focused on homeownership.
They felt that renting at this point in their life was the most realistic and attractive option. It presents an opportunity to move around and adjust according to needs year-to-year, while also helping early professionals learn the ropes while they’re out on their own for the first time. They even exclaimed “I wouldn’t even know what to do with a house at this point in my life.”
Homeownership, they said, isn’t something you pursue just because you have the means. “Just because you have the money doesn’t mean you should be spending it.” It was the efficient management of money that brought a sense of ownership to their life, and that could take any form of physical residence.
Instead, they find a sense of ownership in financial literacy – in the ability to budget, save and invest intentionally. “Home,” for them, is built on “safety, security, and peace.” And that, they argue, doesn’t require a mortgage. Their rented apartment, while impermanent, is still a space of their own — it’s an important reflection of who they are in this specific moment, even if that moment will eventually pass.
The seller
The seller, a 21-year-old real estate agent in North Carolina, Jazel Isa, offered a unique dual perspective: one foot in Gen Z, the other firmly planted in the housing market. She’s watched her peers approach first-time homebuying with surprising savvy. “They’re the easiest to work with,” she said. What they’re after isn’t a dream home — it’s “a launchpad. A stepping stone. An investment.”
An owned property, in her eyes, represents options and opens doors that are important for futurity, beyond just a place to live. “It’s a way of building both stability and opportunity,” she said.
What she sees as her role is helping them get there. “It’s about making it feel possible,” she said, describing how she helps clients navigate new construction communities and financial assistance programs. She noted the rise in interest in co-ownership models as another avenue Gen-Z is exploring.
“It’s about freedom, financial literacy, and flexibility,” she emphasized. Gen-Z buyers value walkability, community and purpose. Sometimes that means choosing a smaller space if it better fits their lifestyle and values.
For her, homeownership is both personal and professional: “I’m helping people plant seeds of stability, legacy, and belonging. To me, that is the true meaning of home.”
Redefining the dream
Gen-Z hasn’t rejected homeownership, they’ve simply reshaped it. Across the country, young professionals are building lives that reflect their values: flexibility, community and personal freedom. For some, that means renovating a family home. For others, it’s the freedom to move every year. And for a growing number, it’s about helping Gen-Z to find their place – and, in doing so, discovering their own.
So, should homeownership be the goal for Gen-Z? If it makes you happy, sure. But it’s not a mandatory stepping stone for a happy, healthy, and well-adjusted life. The real goal, it seems, is freedom – and for this generation, that seems to be the right choice.
