Currently Reading

Student Loans Keep 29% of Americans From Becoming Homeowners, Survey Finds


Student Loans Keep 29% of Americans From Becoming Homeowners, Survey Finds

September 16, 2021
student loan borrower
Photo: fizkes |

While many Americans were economically devastated as a result of the pandemic, others fared much better. In a new survey by the National Association of Realtors (NAR), 54% of student-loan borrowers said the pandemic allowed them to get a better handle on their student debt or allowed them to pay it off earlier than planned. The survey respondents were majority non-homeowners, and they told NAR that their student debt will delay their plans for homebuying anywhere from a few months up to eight years. Of the 54% of respondents that were non-homeowners, 19% said student loans will delay homeownership for more than eight years.

These findings align with previous research that has suggested the nation’s student-debt crisis was preventing many from achieving homeownership. A previous study from the Federal Reserve found that the increase in student debt accounted for a 2 percentage-point drop in the homeownership rate among young adults. That study suggested that some 400,000 people were unable to become homeowners as a result of their student debt.

For the 46% of student-loan borrowers in the National Association of Realtors’ survey who have not managed to emerge from the pandemic in a better financial status, this lost time could have serious ramifications for their future ability to purchase a home.

The inability to become homeowners may have other financial ripple effects for student-loan borrowers. A third of renters with student debt said they were unable to contribute money toward retirement savings, more than double the share of homeowners who said the same, according to the report from the National Association of Realtors.

Read More

Related Stories

Market Data + Trends

Rising Interest Rates Cause Drop in Mortgage Originations

Why mortgage bankers might be seeing a lot less business.

Housing Markets

How Mortgage Rates Affect the Housing Market

As mortgage rates go up, the housing rally slows down.


Lumber and Concrete Prices Fall in September

What the latest PPI report means for construction goods.


More in Category


Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.

Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.