While owning a home can help build wealth and equity, it comes with its own suite of financial risks. In 2025, the average American household pays $6,934 per year in maintenance and upkeep costs alone, according to Insurify’s most recent analysis.

Homeownership is still the goal for nearly all Gen Z renters. But emotional reasons, not financial ones, motivate them, according to a recent Insurify survey of 1,002 Americans ages 22 to 28, of which nearly half were renters. Starting or supporting a family and the freedom to make a home their own are behind why Gen Z renters want to buy.

But ongoing inflation, burdensome student loan debt, and rising housing costs mean today’s renters are navigating a difficult economic landscape. 1

Most Gen Z renters still aim to buy a home, but as the a

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