Buying a first home has always been a major financial milestone, but for many young adults, that goal is becoming harder to reach. A Clever Real Estate analysis of 20 years of U.S. Census data found that homeownership among Americans under 30 dropped from 18.5% in 2005 to 11.8% in 2024, a 36% decline.
The gap is especially clear when comparing younger buyers with baby boomers. Nationally, Gen Z has a homeownership rate of just 4.5%, compared with 73.1% for baby boomers and 44.1% for millennials.
Here are the cities where young adults face some of the steepest climbs toward homeownership.
Myrtle Beach, South Carolina
Myrtle Beach has the largest Gen Z-to-boomer homeownership gap in the country at 80.9%. While 6% of Gen Z adults own homes there, baby boomers have an ownership rate of 86.9%, creating a massive generational divide.
North Port, Florida
North Port follows closely with a 78.7% gap between Gen Z and boomers. The city also ranks among those with the largest millennial-boomer gaps, indicating that younger buyers across multiple generations are struggling to catch up.
Madison, Wisconsin
Madison ranks third, with a 75.9% Gen Z-boomer homeownership gap. Gen Z ownership is especially low at just 2.2%, even though baby boomers own homes at a much higher rate.
Knoxville, Tennessee
Knoxville has a 75.6% gap between Gen Z and boomers. Although its typical home value is close to the national figure, young adults are still far behind older homeowners in ownership rates.
Deltona, Florida
Deltona is another Florida metro where younger buyers face a steep climb. Its Gen Z-boomer gap is 75.5%, and the millennial-boomer gap is also one of the widest in the country.
Cape Coral, Florida
Cape Coral has a 75.1% gap between Gen Z and boomers. With boomers owning homes at 78.6% and Gen Z at just 3.6%, the divide is hard to ignore.
Provo, Utah
Provo is interesting because millennial homeownership is relatively strong there, but Gen Z still trails far behind boomers. The city has a 75% Gen Z-boomer gap, even with a Gen Z ownership rate slightly above the national average.
Boise City, Idaho
Boise has become much less affordable in recent years, and younger buyers are feeling the pressure. The metro has a 74.8% Gen Z-boomer ownership gap, with a typical home value of $485,780.
Grand Rapids, Michigan
Grand Rapids has one of the higher Gen Z homeownership rates on the list at 6.7%, but boomers still dominate ownership at 80.8%. That leaves a 74.1% generational gap.
Minneapolis, Minnesota
Minneapolis rounds out the top 10 with a 73.4% Gen Z-boomer homeownership gap. Millennials fare better here than Gen Z, but younger adults still face a much harder path to ownership than older generations…