Over 40% of
This includes one-third that stated they will buy in the next one-to-three years while an additional 8% of the more than 1,000 22-to-27 year olds that Insurify surveyed said they were looking to buy a house in the next year.
Only a small percentage of the respondents had negative views on homeownership, 5% claiming
These results are in line with prior surveys that note the immense desire of Gen Z to be able to own their own home, but also that many feel that
"We're going to see a wave of that population hit the market in the next few years, once inventory levels out a little bit," said Matt Dunbar, senior vice president of the Southeast region at Churchill Mortgage. "I think you'll see it pick up but right now their incomes really got to start outpacing where prices are."
Besides the 41% that want to buy within the next three years, 22% are looking to purchase in a four-to-six-year time frame. Another 16% said their timeline is seven years or longer, with half of that group looking to act by nine years.
Current
Just under one-third of Gen Z respondents to the Insurify survey, 31%, said they wanted to own a home to start or support a family, while another 22% wanted to build generational wealth. The No. 3 cited reason was freedom to renovate at 21%.
Building equity was cited by 9% while stabilizing their housing costs was fifth at 8%.
Among those surveyed, 40% of the men said they were planning to purchase a home on their own, versus just 28% of women.
A survey completed last September from Maxwell and cited by Insurify in a blog post about the Gen Z study found
National Association of Realtors data pointed out that since 1981, the share of single women homeowners has been consistently larger than that of single males. Back then it was 11% to 10%; in 2021, the gap was 10 percentage points, 19% to 9%.
But Insurify pointed to other data in the Maxwell study that noted
