Nearly Half of Gen Z Plan To Buy a Home in the Next Five Years
Gen Z covers people currently between the ages of 18 and 25—and while they’re just entering adulthood, many of them already have homeownership on their mind.
According to a recent survey from realtor.com, nearly half of Gen Z respondents (43 percent) said they hoped to buy a home at some point over the next five years. And the rest of their generation isn’t far behind—with another 44 percent planning to buy within five to ten years.
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And where, exactly, do they plan to buy? According to the survey, the majority of Gen Z buyers (49 percent) are planning to settle in the suburbs. Close to a third of respondents reported planning to buy in urban areas—and 19 percent are planning to put down roots in a rural area, where they can get more space for their investment.
So, what does this mean for you? If you’re a part of Gen Z, now is a great time to start thinking about what you want from a home—and to start making plans of turning your dream of homeownership into a reality in the not-so-distant future.