LINTHICUM, MD, November 27, 2023 - NFM Lending, a leading mortgage company, is excited to announce the results of a groundbreaking study commissioned to unveil the prospects of buying a home for Gen Z. As the oldest Gen Z’ers turn 26 this year, our findings offer invaluable insights into this generation's eagerness to step into the world of homeownership.
Key Findings:
- 53% of Gen Z Ready to Buy: Astonishingly, 53% of Gen Z respondents expressed their readiness to purchase a home within the next 6 months. This showcases a substantial shift in the housing market, with the younger generation gearing up to make significant investments.
- Affordability Concerns: Despite their strong desire to become homeowners, over 90% of Gen Z respondents revealed anxiety about affordability. This concern highlights a critical need for innovative solutions to address the financial challenges faced by this demographic.
- Income Range: A significant 75% of Gen Z individuals reported an annual income between $50,000 and $150,000. This income range suggests a growing financial capacity among Gen Z, providing a unique opportunity for businesses involved in the home-buying process.
- Demand for Realtor Introduction: More than 90% of Gen Z participants expressed a desire for a realtor introduction. This eagerness to work with real estate professionals underlines the importance of building strong connections within the industry.
To bridge the gap between Gen Z and the world of homeownership, NFM Lending has taken a proactive step by forming The Creator Collective. This innovative group comprises social media pioneers, leveraging platforms such as TikTok, Instagram, and YouTube to educate, inform, and entertain Gen Z audiences with videos addressing many of the questions and concerns they have. The Creator Collective's mission is to empower Gen Z with financial literacy, guiding them through the home-buying process using insightful narratives and advice to demystify the home-buying process.
The study serves as a comprehensive roadmap for connecting with Gen Z and assisting them on their journey toward homeownership. By engaging with these online content creators, Gen Z can access the information and support they need to make informed decisions.
You can read the full study and explore in-depth data on Gen Z's readiness for homeownership here.
NFM Lending is committed to leading the way in understanding and supporting the evolving needs of Gen Z in the housing market. With this study, we aim to provide a brighter future for Gen Z homebuyers and the real estate industry as a whole.
About NFM Lending
NFM Lending is a national mortgage lending company currently licensed in 49 states and Washington, D.C. The company was founded in Baltimore, Maryland in 1998. NFM Lending and its family of companies include Main Street Home Loans, BluPrint Home Loans, Elevate Home Loans, and Element Home Loans. They attribute their success in the mortgage industry to their steadfast commitment to customers and the community. For more information about NFM Lending, visit www.nfmlending.com, like our Facebook page, or follow us on Instagram.
