High home prices and elevated mortgage rates have made it increasingly difficult for Gen Z and millennials to buy homes. The median age of first-time U.S. home buyers has significantly jumped during the past decade. Because incomes have not kept pace with housing costs, many younger Americans are locked out of homeownership.

It’s become increasingly difficult in recent years for young home buyers to break into the housing market. Between comparatively high mortgage rates and skyrocketing home prices, the weight of buying a home feels insurmountable for Gen Z and millennials .

And it shows in the data: In 2025, the share of first-time home buyers plummeted to a record low of 21%, while the typical age of first-time buyers climbed to an all-time high of 40 years, according to a National

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