Only 4.5% of today’s Gen Z demographic are homeowners, compared with 73.1% of baby boomers. According to a new data study from Clever Real Estate, the 68.6% difference marks the largest generational homeownership gap ever recorded.
The new study observed that while the current 46.8% homeownership rate is the highest level seen in the past two decades, homeownership among Americans under age 30 is below pre-recession levels. Among the other over-30 demographics, 44.1% of millennials and 64.8% of Gen Xers are homeowners.
However, although millennials outnumber boomers by about 7 million adults, they own roughly 17 million fewer homes – 49.3 million homes are owned by boomers versus 32.8 million among millennials.
At the metro level, the widest Gen Z-to-boomer divides cluster in waterfront retiree hubs: Myrtle Beach, South Carolina (80.9%), North Port, Florida (78.7%), and Madison, Wisconsin (75.9%). The smallest gaps appear in markets so expensive that even boomers fall below average homeownership, such as Los Angeles (54.6%), Las Vegas (55.7%), and New York City (56.1%).
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