Homeownership used to be a milestone of adulthood for Americans, but for Gen Z, the financial goalposts keep moving further away.

While boomers were able to buy their first homes in cash , the average age of first-time home ownership has now jumped to a record of 40 years old, with high mortgage rates and soaring prices to blame, according to the National Association of Realtors .

In comparison, about four years ago, the average age was just 33. When the survey was first conducted in 1981, the median age was 29.

Today, the median price of an existing home is $415,200, up more than 50% since 2019. Meanwhile, mortgage rates are roughly twice as high as they were in late 2021. When boomers bought their first homes in 1981, the median home price was just $68,900 —though mortgage rates

See Full Page