Generation Z is making its way into the housing market, accounting for one in five purchase rate locks in Q-2 2026, according to mortgage data provider ICE’s July 2026 Mortgage Monitor report.

Gen Z’s presence in the housing market is growing

As the oldest members of Gen Z approach 29 years old, their presence in the housing market only grows. The youngest generation of homebuyers now accounts for a third of all first-time homebuyer loans. Additionally, Gen Z and Millennial buyers account for two-thirds of total purchase volume.

Gen Z is getting creative with down payments to afford a home

Although 71% of homebuyers in 2026 relied on their own personal savings for a down payment in 2026, sources not related to direct savings now make up 29% of all down payments, reaching the highest share in seven years. For Gen Z buyers, 13% relied on a family gift, and 8% used a loan as a down payment. Meanwhile, Baby Boomers were twice as likely as any other generation to tap retirement savings.