Gen Z and the Rise of Co-Buying Homes

The housing market has been a challenge for many—rising costs have pushed the median age of first-time homebuyers to 56. But Gen Z isn’t waiting around. Instead, they’re rewriting the rules of homeownership by teaming up with friends to buy homes together.

According to a recent survey highlighted by WNCT/Nexstar Broadcasting and NerdWallet, nearly 15% of Americans have purchased a home with someone who isn’t a romantic partner—and about 70% of Gen Z say they’d be open to this approach. It’s called co-buying, and it’s quickly becoming a trend worth watching.

Why Co-Buying Is Attractive

Pooling resources allows younger buyers to:

• Afford a bigger or better home sooner.

• Increase their ability to qualify for financing.

• Split the mortgage, often making ownership cheaper than renting.

• Share living space with friends (which can be a positive if lifestyles align).

For parents, this can mean your kids have a viable path to ownership sooner than expected—one that doesn’t necessarily involve waiting for “someday.”

The Challenges of Co-Buying

Of course, there are important realities to consider:

• Shared debt means that if one person can’t pay, the others are responsible.

• Lender hesitation: not every bank or agent is used to working with groups outside of couples.

• Future complications: What happens if one co-owner wants out?

That’s why experts, including real estate analyst Brendon DeSimone, recommend setting up a written agreement before buying. These agreements should outline:

• How the home will be used.

• How finances will be divided.

• What happens if someone wants to move out or sell.

Bottom Line

For Gen Z, co-buying represents creativity and adaptability in a tough market. It’s not for everyone, but with the right preparation—and the right agreement—it can be a smart path to homeownership.

If you have a Gen Z student or young professional in your family, this is a conversation worth having. Homeownership doesn’t always have to look traditional to be possible.

Source: “Gen Z Turns to Co-Buying Homes” by Matt Spears, WNCT/Nexstar Broadcasting, Inc. (2025), with insights from NerdWallet and NewsNation.