Summary
Many young Americans are worried they might never be able to buy a home due to high housing costs and economic concerns. A recent survey shows that 23% of renters under 40 are unsure if they will ever buy a home, despite most still seeing homeownership as important. Rising rent and housing prices, as well as financial anxieties, are the main reasons for their concern.
Key Facts
- 23% of renters under 40 are uncertain about buying a home, up from 18% a year ago.
- Nearly 90% of young people surveyed believe owning a home is important.
- Over three-quarters of respondents are worried about needing to reduce spending.
- Many fear job losses, and 57% of homeowners are concerned about mortgage payments.
- High housing costs are a key factor in economic anxiety, with affording a house being a major worry.
- First-time homebuyers decreased to 21% of market share between July 2024 and June 2025.
- Average age for first-time homebuyers rose to 40 years old.
- Experts predict slight affordability improvements as wage growth may outpace house price growth.
