The renter generation: Young Americans, shut out of homeownership, brace to rent forever

Young Americans are renting longer than previous generations, with homeownership rates among people under 35 declining over the past two decades. The median home price in the United States reached $430,000 in 2025, while median household income for renters averaged $38,000 annually, according to Census Bureau data. Some younger adults report expecting to rent permanently due to housing costs, student loan debt, and savings constraints. The shift represents a change from mid-20th century patterns when homeownership was more accessible to workers with modest incomes.

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