A new study of Generation X homebuyers finds that this cohort purchased the biggest homes, and the most multigenerational homes in 2018.
Eclipsing the Younger Baby Boomer age cohort, Gen Xers bought the most multigenerational homes, with a 16 percent share. They also accounted for the greatest share of detached single-family homebuyers, with an 88 percent share. Additionally, The National Association of Realtors' study finds that Gen X had the highest median household income, due to its large share of double income couples, at $111,100.
Gen Xers, buyers aged 39 to 53 years, made up the second largest share of home buyers by generation at 24 percent of all home buyers in 2018, (down from 26 percent last year). The median age for this group was 45 years old and they were born between 1965 and 1979. They tended to have the largest families in the past, but were surpassed by Older Millennials this year. Fifty-six percent of these buyers had one or more children under the age of 18 years living at home—23 percent had two children under 18 years at home—and they made up the second largest share of buyers that were married couples at 65 percent. The primary reasons that Gen Xers purchased homes was the desire to own a home of their own, job-related relocation, and the desire for a larger home.