You’d think, with the way everyone talks about the housing market, nobody under 30 could buy a house. Well, surprisingly -Gen Z is proving everybody wrong.
According to Redfin (yeah, those real estate folks), people aged 19 to 25 are jumping into homeownership faster than Millennials or Gen X did.
Foreign media- The Independent talked to a bunch of these young buyers—like Taylor G. from Indiana and Dakota Scott from South Dakota—plus a 21-year-old Houston realtor, Lauren Parks, who’s already helped tons of Zoomers snag their first houses. Turns out, these kids aren’t just scrolling TikTok all day.
Cheap Places, Big Wins
So, what’s their secret sauce? Honestly, a lot of them just aren’t buying in those overpriced, Instagrammable cities. Taylor G. grabbed a spot in South Bend, Indiana, where houses average around $187K.
Not exactly L.A. prices, right? Lauren Parks, the Houston realtor, tells her clients to scope out suburbs or up-and-coming neighborhoods. Houston’s average is a bit steeper at $269K, but still, way less than coastal hotspots. The idea? Get in early, watch the value climb, and maybe brag about your “investment portfolio” at parties.
Dakota Scott, who bought her place in South Dakota in 2021, swears picking the right spot is everything. Seems like younger Gen Zers -18 to 24 crowd- want the big city lights. The older ones? They’re cooling it in the ‘burbs for lower price tags. Lauren Parks puts it bluntly: “Location’s the biggest thing to watch, especially with real estate taxes.” Basically, if you wanna buy, do your homework. Check out property taxes, local development, that kind of boring-but-important stuff. It can save you serious cash.
Mortgages: Still a Pain, But Not Impossible
Let’s not sugarcoat it—the mortgage process is a headache. Lauren Parks says even new grads can pull it off, though, if they play their cards right. Lenders sometimes accept college transcripts or job offer letters as proof you’ll pay up.
One of her clients landed a $65K job offer and scored a $180K loan. But yeah, unpaid student loans can wreck your chances. Dakota Scott actually got denied at first ‘cause of credit issues. After knocking out some debt, her husband got approved at a wild 2.7% interest rate. They’re paying about $1,500 a month now.
Good Credit Makes Life Way Easier
Taylor G. breezed through the loan part, mostly because her credit was better than her husband’s. She only got that good credit ‘cause her parents put her on their credit cards at 18. Smart move. She landed a $169K mortgage, paying just over $1,300 a month. And get this—she’s the only one of her friends who owns a home. Bet she’s popular at brunch.
Family Help: Nice, But Not Everything
A quarter of Gen Z homeowners had some kind of family help, either with down payments or cosigning, says Redfin. Still, Lauren Parks insists you don’t need a moneybags parent to buy a house- you can do it on your own if you’ve got a steady paycheck and pick the right spot. Dakota Scott and her husband went solo – no family checks, just hustling and budgeting. Dakota admits a lot of her friends got help, but she swears it’s doable if you play your cards right.
(Inputs taken from The Independent.)
Swastika Sruti is a Senior Sub Editor at NewsX Digital with 5 years of experience shaping stories that matter. She loves tracking politics- national and global trends, and never misses a chance to dig deeper into policies and developments. Passionate about what’s happening around us, she brings sharp insight and clarity to every piece she works on. When not curating news, she’s busy exploring what’s next in the world of public interest. You can reach her at [swastika.newsx@gmail.com]
