2023 Gen Z Homebuyer Report
2023 data on Gen Z homebuyers, elevating their voice to improve access to sustainable homeownership and financial wellness.
Gen Z edition
Only 14% of Gen Z have the financial support they need.
- 39%
- say lack of knowledge is a barrier to buying
- 30%
- are not confident they could maintain a home
- 36%
- are unsure a home builds generational wealth
About the report
The 2023 Gen Z Homebuyer Report is a research project developed in partnership with National MI to provide practical insights into the behavior and preferences of one of the fastest-growing segments of the homebuyer population.
The report analyzes data from two surveys, conducted in October 2022 and April 2023, to understand how Gen Z homebuyers approach the purchase process, what matters most to them, and what challenges they face.
Key insights
- While the vast majority of Gen Z said they wanted to buy a home, they were skeptical about the financial benefits. One in three (36%) were not sure whether owning a home was the best way to build generational wealth.
- 39% said lack of knowledge was a current barrier to buying a home.
- Nearly one in three (30%) Gen Z homebuyers were not confident in their ability to care for or maintain their home, significantly higher than Millennials (18%).
- Only 14% of Gen Z report having the financial advice and support they need, compared with 26% of Millennials.
- Gen Z were significantly less likely to trust their loan officer or real estate agent than Millennials (58% vs. 77% for loan officers, 67% vs. 82% for agents).
Method
Surveys of 1,000 U.S. adults in October 2022 and a follow-up in April 2023.