Northwestern Mutual: Young Americans Delaying Homeownership

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Northwestern Mutual, Milwaukee, Wis., released its 2026 Planning and Progress Study, finding that 24% of millennials and 31% of Gen Z report that they are putting off buying a home due to financial pressures.

Eighteen percent of all respondents–across generational groups–said the same.

Seventy-two percent of Gen Z respondents say financial challenges have caused them to postpone at least one significant financial life milestone; 56% of millennials say the same.

Delaying buying a home was the most commonly pushed milestone for both millennials and Gen Z, but 18% of each group said that financial concerns have delayed them paying off their mortgages. Other common milestones being delayed include having a child, getting married and paying for higher education.

And, 71% of Gen Z and 60% of millennials believe they may never be able to afford at least one of life’s milestones. Thirty-four percent of Gen Z and 22% of millennials said they believe they’ll never be able to buy a house.

“What’s striking isn’t just that young adults are delaying milestones–it’s that many are questioning whether those life events are achievable at all,” said John Roberts, Northwestern Mutual chief field officer.