Among all home buyers in the United States in 2024, first time home buyers accounted for approximately ** percent of the total. The share of first time home buyers among all home buyers in the United States has fluctuated significantly between 2003 and 2024 having had the highest share of first time home buyers of ** percent in 2010.

Approximately ** percent of Americans aged 26 to 34 who bought a home were first-home buyers, whereas ** percent of home buyers between 35 and 44 bought their first home in that year. Gen Z and Millennial first-time buyers It is no surprise that many Gen Z (18 to 24 years old) and Millennial (25 to 43 years old) home buyers are mostly first-time home buyers. These home buyers are in the early stages of their careers, or still studying in some cases, and often struggling to repay student debt, so they need to save for many years before they afford a down payment. When do they sell? These generations tend to stay in their first homes for several years, which means that the majority of home sellers are older than them. The share of income needed to afford a trade-up home is significantly lower than the money needed for a starter home. A trade-up home is a larger and more expensive home, which homeowners often buy after living in their starter home, or their first home, for several years. This progression generally happens when homeowners have climbed the career ladder and increased their incomes.

Comprehensive yearly mortgage rate data showing starting rates, ending rates, volatility, and notable economic events

Graph and download economic data for Homeownership Rate in the United States (RHORUSQ156N) from Q1 1965 to Q2 2025 about homeownership, housing, rate, and USA.

Residents buyers who are persons that purchased a residential property in a market sale and filed their T1 tax return form, as well as total income, family total income, sale price, price-to-income ratio, and age, by the number of buyers, age group, first-time home buyer status, and buyer characteristics (sex, family type, immigration status, period of immigration, admission category).

30 Year Mortgage Rate in the United States increased to 6.34 percent in October 2 from 6.30 percent in the previous week. This dataset includes a chart with historical data for the United States 30 Year Mortgage Rate.

The typical down payment percentage for first-time home buyers in 2024

This statistic shows the percentage of first-time home buyers in the United States in 2005 and 2015, by region. In 2005, ** percent of home buyers in the west were first-time buyers, whilst only ** percent of home buyers in the west in 2015 were first-time buyers.

Between 2015 and 2020, the majority of first-time buyers of different sexual orientations in the United States used conventional loans to finance their home purchases. About ** percent of bisexual, ** percent of LGBTQ, ** percent of non-LGBTQ, and ** percent of lesbian or gay individuals used conventional loans to buy home. Other loan options used in this period included FHA (Federal Housing Administration) loans and VA (Veterans Affairs) loans.

New Home Sales in the United States increased to 800 Thousand units in August from 664 Thousand units in July of 2025. This dataset provides the latest reported value for - United States New Home Sales - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Existing Home Sales in the United States decreased to 4000 Thousand in August from 4010 Thousand in July of 2025. This dataset provides the latest reported value for - United States Existing Home Sales - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Mortgage approval rates by age for U.S. home buyers in 2024, showing approval percentages across different age groups from 18-24 to 65+ years old

Distribution of purchase mortgages by age for U.S. home buyers in 2024, showing market share across different age groups from 18-24 to 65+ years old

For the past decade, buying a home in the UK has been more affordable than renting one, when only considering the monthly costs. The renting versus buying gap fluctuated during the period and in 2016, it reached its highest value of 131 British pounds. In 2023, the monthly costs for a first-time buyer were 1,231 British pounds, compared to 1,258 British pounds for renters. Rental growth vs house price growth Housing costs in the UK have been on an uprise, with both renting and buying a home increasingly unreachable. Though the monthly costs of buying have consistently been lower in the past decade, house price growth has been much stronger than rental growth since the beginning of the pandemic. Additionally, buyers have been affected by the aggressive mortgage rate hikes, making acquiring their first home even less affordable. Barriers to homeownership Buying a home is not straightforward. For younger (18-40) potential first-time buyers, there are a number of barriers. Approximately one in three first-time buyers point out that raising a deposit was the main obstacle. Other reasons stopping buyers were not being able to take out a mortgage on their current income and poor credit ratings. Unsurprisingly, the highest share of people who buy a home with a mortgage was in the age group of 45 to 55-year-olds.

Average mortgage origination fees by age for U.S. home buyers in 2024, showing fee percentages across different age groups from 18-24 to 65+ years old

Since 2012, the median down payment for a home purchase in the United States has more than doubled. In December 2024, homebuyers who took out a mortgage to finance their purchase had to save up approximately ****** U.S. dollars for a down payment. This is roughly 10,000 U.S. dollars above the median down payment just four years ago in 2020. This was a result of the rapid house price growth observed in recent years.

Distribution of purchase mortgage loan terms for U.S. home buyers in 2024, showing market share across different loan term lengths including 120, 180, 240, 360 months and other terms

Lender market share concentration for U.S. home buyers in 2024, showing market share of the top 50 mortgage lenders ranked by loan volume, with remaining lenders accounting for the rest of the market

Graph and download economic data for Consumer Unit Characteristics: Percent Homeowner by Age: from Age 25 to 34 (CXUHOMEOWNLB0403M) from 1990 to 2023 about age, consumer unit, homeownership, 25 years +, percent, and USA.