When Do Most People Achieve Homewonership

When Do Most People Achieve Homewonership

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Our lives are filled with financial milestones, one of the largest being purchasing a home. Homeownership has always been and still remains a part of the American dream, but with prices far exceeding income affordability, that is seeming further out of reach. Researchers at Comet Financial Intelligence (a student loan refinancing resource) surveyed 1200 Americans and found the following:

The average age at which most people buy their first home is 29 years old and, regardless of generation, most Americans are homeowners by age 35.

- Millennials expect to make their first home purchase about three years before they've paid off their student loans, telling us that they're prioritizing student loan repayment over homeownership. 

- 3/4 of Millennials do not yet own homes and, based on this research, will be 34 years old when they take out their first mortgages.

Source: http://realtormag.realtor.org/daily-news/2018/02/06/when-in-life-do-most-people-achieve-ownership

Liz Peters Headshot
Phone: 949-683-5374
Dated: February 11th 2018
Views: 124
About Liz: An Orange County native and Team Manager of The Kurt Real Estate Group with a heavy background in bo...

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