The New York Times, April 25, 2024, The Gen-Z Advantage In Housing
Researchers measured the average housing costs incurred by Gen Z-ers and millennials between the ages of 22 to 30, including rent, mortgage, insurance and utilities, with dollar amounts adjusted for inflation. Down payments were not included. Projections through age 30 were made for Gen Z, as the oldest members of that generation are not yet 30.
On average, the study found, Gen Z-ers — born between 1994 and 2000 — will spend about $145,000 on rent by their 30th birthdays, while millennials — born between 1981 and 1996 — spent $127,000 during the same stage of life. But because Gen Z-ers earn more, the share of income required (27 percent) is roughly equal for both generations.
