Majority of Gen Z Homebuyers Say They Received Financial Assistance

Achieving homeownership remains a challenge for first-time homebuyers, especially for Generation Z. According to a recent survey from online lending platform LendingTree, nearly 80% of Gen Z homeowners had financial help when purchasing their home, and 33% say buying a home would have been impossible without that help.

It’s not just Gen Z that’s receiving financial help, though

While Gen Z is receiving the most help, buyers across age groups are receiving financial assistance. Across all age groups, 40% of homeowners say they received financial help. Following Gen Z, Millennials were the largest group to receive financial help. The share of Millennial homeowners who had help purchasing a home sits at 56% compared with just 12% of Baby Boomers.

Even so, many prospective buyers feel optimistic about buying a house in the future

Still, the vast majority of Americans remain optimistic about their ability to afford a home in the future. Of those surveyed, 68% of Americans say they feel homeownership is achievable without financial help. While high-income earners, Baby Boomers, and men were most likely to fall into this camp, 65% of Millennials, Gen Xers, and women and 61% of Gen Zers believe they can purchase a home without help.