Gen Z: Here’s What a Home Cost in the Year You Were Born
Written by
Jordan Rosenfeld
Edited by
Zuri Anderson
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Reviewed
by Experts
Trusted by
Millions of Readers
Generation Z, people born approximately between 1997 and 2012, are the youngest generation to enter the workforce and begin planning their lives, including buying homes.
Born “digital natives,” the first generation always having access to the internet, Gen Z is, in many ways, ahead of where their elder peers were in their twenties. One of these areas is housing.
According to the National Association of Realtors, Gen Zers are becoming homeowners earlier than their millennial counterparts did at the same ages. Additionally, Gen Zers understand the power of real estate — 87% of them reported that homeownership is important to building wealth in a survey by Arrived.
While Gen Zers may be more prepared mentally for homeownership, the cost to buy a home has skyrocketed since their parents and grandparents’ generations, making it more expensive to do.
Here is the cost of a home in each of the years Gen Zers were born as compared with the price in 2024:
1997
- Average home sale price (in year sold): $176,200
- Average home sale price (in 2024): $343,956
1998
- Average home sale price (in year sold): $181,900
- Average home sale price (in 2024): $350,266
1999
- Average home sale price (in year sold): $195,600
- Average home sale price (in 2024): $370,255
2000
- Average home sale price (in year sold): $207,000
- Average home sale price (in 2024): $377,644
2001
- Average home sale price (in year sold): $213,200
- Average home sale price (in 2024): $377,918
2002
- Average home sale price (in year sold): $228,700
- Average home sale price (in 2024): $399,498
2003
- Average home sale price (in year sold): $246,300
- Average home sale price (in 2024): $417,630
2004
- Average home sale price (in year sold): $274,500
- Average home sale price (in 2024): $457,498
2005
- Average home sale price (in year sold): $297,000
- Average home sale price (in 2024): $479,889
2006
- Average home sale price (in year sold): $305,900
- Average home sale price (in 2024): $478,190
2007
- Average home sale price (in year sold): $313,600
- Average home sale price (in 2024): $476,973
2008
- Average home sale price (in year sold): $292,600
- Average home sale price (in 2024): $427,992
2009
- Average home sale price (in year sold): $270,900
- Average home sale price (in 2024): $397,777
2010
- Average home sale price (in year sold): $272,900
- Average home sale price (in 2024): $391,651
2011
- Average home sale price (in year sold): $267,900
- Average home sale price (in 2024): $374,434
2012
- Average home sale price (in year sold): $292,200
- Average home sale price (in 2024): $397,849
Methodology: For this study, GOBankingRates found the national average home sale price from 1963 to 2023 in years sold dollars as well as current dollars. Using the US Census’s New Residential Construction Average Home Sale Price, GOBankingRates found the historical average home sales price starting in 1963. Using the Bureau of Labor Statistics Consumer Price Index Inflation Calculator, the historical home price can be calculated in current 2024 dollars. All data was collected on and is up-to-date as-of Apr. 11, 2024.
More From GOBankingRates
