Clever Real Estate: 98% of Gen Z Sees Significant Barriers to Home Ownership

(Image courtesy of Clever Real Estate; Breakout image courtesy of Anastasia Shuraeva/

Clever Real Estate, St. Louis, released a new survey delving into Gen Z’s attitudes and expectations for home ownership, finding that 60% of the generation worries they will never own a home.

Gen Z refers to those born in the late 1990s to early 2010s.

Of the respondents, 93% of adult members of Gen Z say they want to own a home, and 58% see it as a path to wealth.

But, 96% have concerns about buying a home. Fifty-four percent say they worry they won’t be able to afford one; 48% cite unexpected or hidden costs of home ownership, and 45% point to worries that they won’t be able to afford a mortgage.

Ninety-eight percent say they face barriers to homeownership–50% pointed to expensive homes and 31% to high interest rates.

Eighty percent say they think the market will get worse before they buy a home–a problematic prediction given that 61% don’t feel ready for homeownership but also don’t think they can wait given the rise in costs.

And, 29% of Gen Z says they can barely make ends meet currently.

Sixty-three percent of Gen Z have less than $10,000 in savings, and 17% have nothing saved.

The survey also explored Gen Z respondents’ perception of their future homes. One in five say they think their first house will cost $450,000 or more, and 29% think they’ll someday own a home worth more than $1 million.

On the flip side, 52% anticipate buying a starter home that’s worth under $250,000.

Additionally, 57% would be willing to put an offer in on a fixer-upper.

Despite some of the mixed findings, members of Gen Z remain confident they will eventually purchase a home–only 4% believe they will never hit the milestone.

But, 96% also say it’s not their No. 1 goal in life, citing finding stable employment, building their careers, starting families, getting married and traveling as higher priorities.