2025 NextGen Homebuyer Report
About the Report
The 2025 NextGen Homebuyer Report, conducted in parternship with National MI, is now available as both a comprehensive written report and presentation slides. The report offers comprehensive insights into the homebuying aspirations, challenges, and behaviors of Gen Z and Millennials. Led by Kristin Messerli, Executive Director of FirstHome IQ, this fifth annual report analyzes responses from 1,000 participants aged 18-44, capturing their financial realities, homeownership perspectives, and information preferences. The research reveals significant trends in affordability strategies, trust dynamics, and digital engagement that are reshaping the homebuying journey for younger generations.
About NextGen Research
Since launching our first NextGen Homebuyer Report in 2020, we've surveyed over 7,000 respondents aged 18-44, building a robust longitudinal perspective on evolving homeownership trends. The 2025 survey maintained our commitment to diverse representation across race, income, and gender. This year's findings further emphasize the ongoing importance of education and accessibility in overcoming barriers to homeownership.
Key Insights
PLUMMETING TRUST: Trust in financial institutions has dramatically declined, with banks dropping from 61.5% to 40% and loan officers falling to just 19.5% in the past year.
AFFORDABILITY STRATEGIES: 42% plan to buy fixer-uppers, 21% are considering co-buying, and 19% intend to rent out portions of their homes to make homeownership more affordable.
DIGITAL TRANSFORMATION: 66% use YouTube for homebuying education, 40% of Gen Z rely on social media for research, and 43% leverage AI tools like ChatGPT for information.
GENERATIONAL DIFFERENCES:
Gen Z is 78% more likely than Millennials to consider co-buying (32% vs. 18%)
Only 43% of Gen Z feel confident in their personal finance knowledge compared to 53% of Millennials
FINANCIAL EDUCATION LACKING: 53% reported receiving no formal financial education in school, with an additional 29% indicating it was only optional or a short lesson.
Don’t miss the Full Report (in addition to the slides above) where you can access additional information, context, and actionable insights not available in the slides.