Home Buying Statistics by Generation: 100+ Facts & Data

Last updated: February 11, 2026

The housing market looks completely different depending on which generation you belong to. Baby Boomers are making all-cash offers with decades of home equity. Millennials and Gen Z are still fighting to afford their first down payment. Generation X quietly holds the highest earning power across generations. This resource compiles over 100 verified statistics from the National Association of REALTORS® (NAR), Redfin, U.S. Census Bureau, Apartment List, the Federal Reserve, and Freddie Mac to show exactly how each generation of home buyers is buying and selling homes. A new report from NAR shows that home buyers by generation reveals dramatic differences in behavior, housing costs, and financial readiness.

Jump to section: Overview | Gen Z | Millennials | Gen X | Baby Boomers | Silent Generation | Homeownership Rates | Down Payments | Financing | Selling by Generation | Agent Usage | Sources
Multiple generations of home buyers with a real estate agent
Generational differences shape every aspect of the home buying process

Generational Home Buying at a Glance

2026 Headline Numbers

GenerationAge RangeShare of BuyersShare of SellersHomeownership Rate
Gen Z18 to 253%2%26%
Younger Millennials26 to 3412%
Older Millennials35 to 4417%
All Millennials26 to 4429%7%55%
Gen X45 to 5924%14%73%
Younger Boomers60 to 6926%
Older Boomers70 to 7816%
All Baby Boomers60 to 7842%53%80%
Silent Generation79 to 994%3%

Sources: NAR 2025 Generational Trends Report, Redfin 2025

How Buyer Share Has Shifted Over Time

The age of home buyers and the generational makeup of the market changes every year. Millennials dominated from 2014 to 2023. Then Boomer buyers reclaimed the top spot in 2024, fueled by record home equity and all-cash purchasing power. The NAR Home Buyer and Seller Generational Trends Report provides insights into differences and similarities across generations of home buyers and sellers. Understanding how different generations approach real estate helps explain everything from pricing trends to inventory challenges.

YearGen ZMillennialsGen XBaby BoomersSilent Gen
20202%37%24%32%5%
20212%43%22%29%4%
20224%28%24%39%4%
20233%38%24%31%4%
20243%29%24%42%4%

Source: NAR Generational Trends Reports 2020 to 2025

Gen Z Home Buying Statistics (Ages 18 to 25)

Generation Z is the newest group entering the housing market. While Gen Z's share is still small at just 3% of recent home buyers, this generation is laying the groundwork for future purchasing power. Here is what the data shows about Gen Z home buyers in 2024 and their path toward owning a home.

Gen Z Key Facts

Gen Z Demographics and Behavior

Gen Z buyers enter homeownership with the lowest household incomes and are unlikely to be married or have children under 18 in the home. Like younger Millennials, they tend to purchase older homes rather than new construction.

MetricGen Z ValueSource
Share of all home buyers3%NAR 2025
Share of all home sellers2%NAR 2025
Homeownership rate (2024)26.1%Redfin 2025
Can't afford to buy a home82%IPX1031 2026
Can't afford a down payment73%Federal Reserve 2024
Single female buyers30%NAR 2025
Availability motivated timing28%NAR 2025

Why Gen Z Renters Are Not Buying

Federal Reserve data from 2024 breaks down the specific reasons Gen Z renters have not yet entered homeownership.

Reason for RentingGen ZAll Generations
Can't afford down payment73%68%
Renting is more convenient or flexible61%58%
Can't afford monthly mortgage payment53%49%
Renting is cheaper48%46%
Renting is less financially risky46%47%
Can't qualify for a mortgage43%42%
Trying to buy34%30%
Prefer to rent35%39%

Source: Federal Reserve Survey of Household Economics and Decisionmaking, 2024

Millennial Home Buying Statistics (Ages 26 to 44)

Millennial homebuyers remain one of the most important forces in real estate, and younger millennials are the most educated group of buyers with 78% holding a bachelor's degree. At 29% of buyers, they are the second largest purchasing group. Many Millennials want to buy homes but face rising housing costs and record prices. Affordability varies by generation, and millennial affordability challenges have pushed their homeownership rate flat for the first time in over a decade. A quarter of younger millennials transitioned from a family member's home into homeownership directly.

Millennial Key Facts

Millennial Homeownership Over Time

Millennials comprise 29% of buyers and passed the 50% homeownership milestone, but it took longer than any previous generation to get there. At age 30, only 33% of Millennials owned a home, compared to 48% of Boomers at the same age. Many millennials sold a family home or received help from parents to make it happen.

GenerationHomeownership at Age 30
Silent Generation55%
Baby Boomers48%
Gen X42%
Millennials33%

Source: Apartment List 2025, U.S. Census Bureau CPS data

Millennial Homeownership Rate by Year

After years of steady growth, Millennial homeownership flatlined in 2024 at 54.9%. High mortgage rates and record home prices have stalled momentum.

YearMillennial Homeownership RateYear-over-Year Change
201943.3%
202047.9%+4.6 pts
202151.5%+3.6 pts
202251.5%Flat
202354.8%+3.3 pts
202454.9%+0.1 pts (Flat)

Source: Redfin analysis of Census Bureau CPS data, 2025

Millennial Down Payment and Financing

Saving for a down payment is the single biggest challenge for Millennial buyers. A striking 67% of Millennials have not started saving for a down payment at all.

MetricYounger Millennials (26 to 34)Older Millennials (35 to 44)
First-time buyer share71%36%
Married couple buyers66%
Unmarried couple buyers13%
Down payment from gift/loan27%13%
Saving for down payment was hardest step33%20%
Student loan debt holders43%29%
Median student loan balance$30,000$35,000
Moved from family member's home25%

Source: NAR 2025 Generational Trends Report

Millennials Who Expect to Always Rent

The share of Millennial renters who believe they will never buy a home has nearly doubled since 2018.

YearShare of Millennial Renters Who Expect to Always Rent
201813.3%
201914.9%
202021.3%
202121.6%
202224.7%

Source: Apartment List Millennial Homeownership Report

Why Millennials Expect to Always Rent

Reason20182022
Can't afford to buy a home69%74%
Like the flexibility renting provides42%27%
Prefer to avoid home maintenance and other costs36%26%
Buying a home is financially risky29%19%

Source: Apartment List 2023 Millennial Homeownership Report

Why Millennial Renters Have Not Bought

Reason for RentingMillennialsAll Generations
Can't afford down payment to buy68%68%
Renting is more convenient or flexible54%58%
Can't afford monthly mortgage payment48%49%
Renting is cheaper44%46%
Can't qualify for a mortgage41%42%
Trying to buy37%30%
Prefer to rent30%39%

Source: Federal Reserve Survey of Household Economics and Decisionmaking, 2024

Gen X Home Buying Statistics (Ages 45 to 59)

Generation X, often called Gen Xers, is the overlooked middle generation in real estate. But they are earning more than any other group, purchasing the largest homes, and leading the way in multigenerational housing purchases. As both younger and older generations face different challenges, Gen Xers sit in a unique financial sweet spot.

Gen X Key Facts

Gen X Demographics and Behavior

Gen Xers are in their peak earning years. With dual incomes and the highest household income of any generation, they have significant purchasing power. They represent the "sandwich generation," often caring for both aging parents and children. Gen X buyers also purchased the largest homes of any group, tied with younger Millennials at a median of 2,000 square feet.

MetricGen X ValueSource
Share of home buyers24%NAR 2025
Share of home sellers14%NAR 2025
Homeownership rate (2024)72.9%Redfin 2025
Median household income$130,000NAR 2025
Median home size purchased2,000 sq ftNAR 2025
Multigenerational home purchase21%NAR 2025
Married couple buyers66%NAR 2025
Non-White/Caucasian buyers25%NAR 2025

Why Gen X Buys Multigenerational Homes

Gen X leads all generations in purchasing homes designed for multiple age groups. Here are the most common reasons.

Reason for Multigenerational PurchasePercentage
Take care of and spend time with aging parents28%
Children over age 18 are living in the home28%
Cost savings22%

Source: NAR 2025 Generational Trends Report

Gen X Homeownership Rate Over Time

YearGen X Homeownership Rate
202069.1%
202170.4%
202271.5%
202372.0%
202472.9%

Source: Redfin analysis of Census Bureau CPS data, 2025

Baby Boomer Home Buying Statistics (Ages 60 to 78)

Baby Boomers have overtaken Millennials as the largest generation of home buyers for the first time since NAR began tracking the home buyer and seller generational trends. Their decades of built-up equity, combined with the highest homeownership rate of any active generation, give them unmatched purchasing power. Owning a home for 13 to 16 years has allowed younger and older Boomers alike to ride a wave of appreciation that now translates into all-cash offers.

Baby Boomer Key Facts

Baby Boomer Buying Behavior

Boomers are buying and selling for very different reasons than younger generations. Proximity to family, retirement, and downsizing drive their decisions. With 47% home price appreciation in the last five years, many Boomers can bypass mortgages entirely.

MetricYounger Boomers (60 to 69)Older Boomers (70 to 78)
Share of buyers26%16%
Purchased with all cash~40%~51%
Used sale proceeds for down payment53%62%
Financed the purchase49%
Years owned before selling13 years16 years
Expected tenure in new home20 years
Purchased in small townMost likely
Purchased in suburbMost likely
Homes typically built in19991999
Purchased new construction~30%~30%

Source: NAR 2025 Generational Trends Report, NAR 2025

Why Baby Boomers Are Buying

Baby Boomers purchase homes for fundamentally different reasons than younger buyers. Their motivations center on lifestyle rather than necessity.

Primary MotivationDescription
Closer to friends and familyTop reason for buyers 60 and older
RetirementMajor catalyst for moving in this age group
Desire for smaller home17% of all buyers reported downsizing
Senior-related housingNearly 20% of buyers over 60 purchased senior housing

Source: NAR 2025 Generational Trends Report

Baby Boomer Homeownership Rate Over Time

YearBoomer Homeownership Rate
202076.2%
202177.3%
202278.2%
202378.8%
202479.6%

Source: Redfin analysis of Census Bureau CPS data, 2025

Silent Generation Home Buying Statistics (Ages 79 to 99)

The Silent Generation represents the smallest active buyer group at just 4% of purchases. Entering homeownership later in life for this group means purchasing the smallest homes and prioritizing proximity to family. While their market share is small, their buying behavior is distinct. Generational definitions for this report place the Silent Generation at ages 79 to 99.

Silent Generation Key Facts

Silent Generation buyers primarily purchase to be closer to friends and family. They are the most likely to choose neighborhoods based on proximity to health facilities. This group was least likely to make compromises on their home purchases.

Homeownership Rates by Generation

Homeownership rates vary dramatically by generation. While Boomers and Gen X continue to see gains, younger generations have hit a wall.

Generation2024 Rate2023 RateChange
Gen Z (18 to 27)26.1%26.3%-0.2 pts
Millennials (28 to 43)54.9%54.8%+0.1 pts (flat)
Gen X (44 to 59)72.9%72.0%+0.9 pts
Baby Boomers (60 to 78)79.6%78.8%+0.8 pts

Source: Redfin analysis of Census Bureau CPS data, 2025

Homeownership at Age 27: Generational Comparison

Looking at homeownership at the same age reveals how much harder it is for younger generations to buy. At age 27, only 32.6% of Gen Z own their home, compared to 40.5% of Boomers at the same age.

GenerationHomeownership at Age 27
Baby Boomers40.5%
Gen X38.4%
Gen Z32.6%

Source: Redfin 2025

Homeownership at Age 35: Generational Comparison

GenerationHomeownership at Age 35
Baby Boomers61.5%
Gen X59.4%
Millennials56.0%

Source: Redfin 2025

Down Payments by Generation

Down payment behavior varies significantly by generation. Older buyers leverage home equity from previous sales, while younger buyers rely on savings and financial help from family.

Down Payment Highlights

Down Payment Sources by Generation

Down Payment SourceYounger MillennialsOlder MillennialsOlder Boomers
Personal savingsPrimary sourcePrimary sourceSecondary source
Gift or loan from family/friend33%13%Rare
Proceeds from sale of previous homeRareCommon62%
All-cash purchaseVery rareRare~51%

Source: NAR 2025 Profile of Home Buyers and Sellers

All-Cash Purchases Are at Record Highs

The share of all-cash home purchases has reached an all-time high of 26%, driven largely by equity-rich Baby Boomers. Between 2003 and 2010, fewer than one in 10 buyers paid all cash. Only 49% of older Baby Boomers needed a mortgage to purchase their home, compared to over 90% of buyers aged 44 and younger.

Financing and Affordability by Generation

74% of home buyers financed their home purchase. How generational groups choose to finance varies dramatically. Buying trends differ sharply across different age groups. This share decreases as the buyer's age increases, reflecting the greater equity available to older generations who purchased homes in 2024 and prior years at much lower prices. The baby boomer generation in particular has the financial advantage of using sale proceeds to pay cash.

Financing Rate by Age Group

Age GroupFinanced PurchaseAll-Cash Purchase
Under 44 (Millennials & Gen Z)90%+Less than 10%
45 to 59 (Gen X)~75%~25%
60 to 69 (Younger Boomers)~60%~40%
70 to 78 (Older Boomers)49%51%

Source: NAR 2025 Generational Trends Report

Debt That Delays Homeownership

Younger buyers overall are delayed by student loans, high rental costs, and credit card debt. Each generation must finance their home purchase differently. The data shows specific generational impacts on how people take steps toward homeownership in today's real estate market.

MetricYounger MillennialsOlder MillennialsOlder Boomers
Had student loan debt43%29%5%
Median student loan balance$30,000$35,000$22,000
Delayed by debt (median years)10 years

Source: NAR 2025 Generational Trends Report

Buyers across all generations reported that cutting spending on luxury and non-essential items and entertainment was the most common strategy for saving toward their home purchases.

Affordability by Generation: Who Can't Afford to Buy

GenerationCan't Afford to Buy
Gen Z82%
Millennials62%
Gen XLower share (not specified)
Baby BoomersLowest share

Source: IPX1031 Homeownership Rate Statistics 2026

Home Selling Statistics by Generation

Baby Boomers dominate the seller side of the market even more than the buyer side. Over half of all home sellers are Boomers, holding the largest share of home buyers and sellers combined across generations of home buyers and sellers. This reflects decades of homeownership and the largest generational cohort of property owners.

GenerationShare of SellersPrimary Reason for Selling
Gen Z2%Early investors or relocating
Millennials7%Home too small, job relocation
Gen X14%Upgrading or lifestyle relocation
Baby Boomers53%Closer to family, retirement, downsizing
Silent Generation3%Downsizing, transitioning to senior housing

Source: NAR 2025 Generational Trends Report

Seller Tenure Before Selling

The typical seller has owned their home for a record 11 years. Older Boomers held their homes the longest at a median of 16 years.

Seller Fast Facts

Real Estate Agent Usage by Generation

Real estate agents and brokers remain the top resource for home buyers and sellers across all generations. 88% of buyers purchased their home through an agent during their home search. This figure is consistent across age groups, from Gen Z to the Silent Generation.

What Buyers Value in an Agent

BenefitDescription
Help find the right homeTop reason across all age groups
Negotiating terms of saleValued by all generations
Handling paperworkParticularly valued by younger buyers
Pointing out property features/flawsOver half of buyers cited this benefit
Understanding the process76% of first-time buyers credited their agent

Source: NAR 2025 Profile of Home Buyers and Sellers

Seller Agent Loyalty by Generation

Older sellers show the strongest agent loyalty. Nearly 3 in 4 sellers would use the same agent again. The older the seller, the more likely they are to return to someone they know and trust.

The Changing Demographics of Home Buyers

The traditional profile of a home buyer has shifted dramatically in recent years. These broader trends affect every generation differently.

Household Composition Trends

MetricCurrent ValueHistorical Comparison
Buyers with children under 1824%Down from 58% in 1985
Married couple buyers61%Declining share
Single female buyers21%Growing share
Single male buyers9%Stable
Median first-time buyer age40 yearsUp from 29 years in 1981
Median repeat buyer age62 yearsRecord high
Median seller age64 yearsRecord high

Source: NAR 2025 Profile of Home Buyers and Sellers

Buying for the Long Haul

Home buyers are planning to stay in their homes longer than ever. The median expected tenure is now 15 years, with 28% declaring their purchase a "forever home." This is a sharp increase from the 2000 to 2008 period, when sellers typically stayed just six years.

Income by Generation

Household income is one of the biggest factors separating generational buying power. Gen X leads with the highest earnings, while Gen Z and younger Millennials face the steepest affordability gaps.

GenerationMedian Household Income (Buyers)
Gen Z (18 to 25)Lowest of all groups
Younger Millennials (26 to 34)$97,000 (first-time buyer median)
Older Millennials (35 to 44)$127,500
Gen X (45 to 59)$130,000
Younger Boomers (60 to 69)Below Gen X
Older Boomers (70 to 78)Lower, often retired
Silent Generation (79 to 99)Lowest (most retired)

Source: NAR 2025 Generational Trends Report, NAR 2025 Profile

Housing Compromises by Generation

Younger generations are far more likely to make compromises when purchasing a home. Older, more financially secure buyers rarely had to settle.

Compromise TypeAll Buyers
Compromised on price30%
Compromised on home condition23%
Compromised on home size22%

Source: NAR 2025 Generational Trends Report

Buyers aged 44 and younger were the most likely to make these compromises. Younger generations also described cutting spending, delaying vacations, and getting side jobs to afford today's record-high home prices. Baby Boomers were the least likely to report making sacrifices, reflecting their stronger financial position from decades of equity growth.

Environmental Concerns by Generation

Generational priorities also diverge when it comes to environmental features and commuting costs.

ConcernMillennialsBoomers/Silent Gen
Commuting costs40% (most important)Lower priority
Heating and cooling costsImportant33% overall
Senior-friendly featuresNot a priorityHigh priority
Low-maintenance homesNot a priorityHigh priority
Convenience to health facilitiesNot a prioritySilent Gen top choice

Source: NAR 2025 Generational Trends Report

Sources and Methodology

All statistics in this resource are sourced from the following authoritative organizations. Data reflects surveys and research conducted between 2023 and 2025.

SourceReportYear
National Association of REALTORS (NAR)2025 Home Buyers and Sellers Generational Trends Report2025
National Association of REALTORS (NAR)2025 Profile of Home Buyers and Sellers2025
RedfinHomeownership Rate by Generation 20242025
Apartment List2025 Millennial Homeownership Report2025
The Motley FoolMillennial Home-Buying Statistics2025
Federal ReserveSurvey of Household Economics and Decisionmaking (SHED)2024
U.S. Census BureauCurrent Population Survey (CPS), IPUMS-CPS2024

Cite This Resource

If you use data from this page, please cite:

"Home Buying Statistics by Generation." Real Estate Agent Near Me. Updated February 2026. https://realestateagentnearme.com/home-buying-statistics-by-generation/

Related Statistics and Resources

For more real estate data, explore our full library of statistics pages. See first-time home buyer statistics for a deeper look at new buyers entering the market. Our homeownership statistics by state breaks down ownership rates across all 50 states. Check real estate statistics 2026 for the latest industry-wide numbers, or view home selling statistics for seller-specific data. Browse all reports on our statistics hub.

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