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dwin Nino Delgado, 24, is a Seattle first‑time homeowner who defies the norm. He bought a $770,000 triplex in Lake City, a price that would have seemed out of reach for most of his peers. While the National Association of Realtors reports the average first‑time buyer is now 40, only about 4 % of King County households headed by someone under 30 own homes, a steep drop from nearly 11 % in the 1980s. Seattle’s median home price is close to $1 million, and student debt keeps many young adults locked out of the market.
Delgado’s path began in high school. He spent summers mowing lawns for his parents’ landscaping business in Gig Harbor and Tacoma. Watching the owners of the properties he serviced—often a single woman in the most desirable homes—sparked his interest in real estate. He began saving early, taught himself coding during the pandemic, and studied investment strategies. To avoid student loans, he applied for scholarships and attended in‑state schools, earning a computer science degree from the University of Washington. A tech job in Seattle followed, and just after his 24th birthday, he closed on the triplex. The building has tenants who help cover the mortgage, but the property still needs repairs. Delgado admits he had to sacrifice a “fun” lifestyle to achieve this goal, saying, “If I had pursued music, I wouldn’t own a house.”
The broader picture shows Gen Z grappling with the American dream of homeownership. Matthew Gardner, a Seattle‑based real estate economist, notes that the dream is “on life support.” In the 1980s, first‑time buyers were in their late 20s; today, many are burdened by student loans—about a third of 18‑29‑year‑olds carry debt versus 17 % of the overall population, according to FICO. Credit scores suffer, making mortgages harder to obtain. Meanwhile, the U.S. hasn’t built enough homes to meet demand, driving prices up. King County’s median home price rose from $71,400 in 1980 (inflation‑adjusted $300,000) to $990,000 in 2025, more than triple. Even with low‑down‑payment programs, many Gen Zers cannot afford the monthly payments, so they wait to save a 20 % down payment—often over $100,000—prolonging their rental years.
Renters dominate the county: in 2023, about 75 % of households headed by under‑30s were renting, and only 14 % owned homes, down from 26 % in 1980. Average apartment rents have risen 57 % to $2,146, while median home prices have more than doubled. Jeff Tucker, principal economist at Windermere, warns that high rents erode savings and delay milestones like buying a house and having children. The scarcity of affordable homes forces young buyers to compete fiercely, turning houses into “scarce resources” rather than assets.
Joshua and Madison Crossen, both 26, illustrate a different strategy. They grew up in homes where buying early was the norm. After college, they worked long hours—Joshua in a sewage department and catering, Madison in medical internships—while living at home. They saved nearly $100,000, enough for a 17 % down payment on a house near their family. They traded a carefree early twenties for the security of a home, believing it was essential for their future children. A Bank of America survey found that 30 % of Gen Z homeowners in 2025 paid their down payment by taking on extra jobs, up from 24 % in 2023.
Maria Buchanan, 28, bought a home in Tacoma with her fiancé after years of living on one income and cutting expenses. They drove a 2013 Prius, avoided travel and dining out, and saved for a down payment. Buchanan feels that the effort required to buy a home has become excessive, especially when compared to her parents’ more carefree twenties. She argues that Gen Z has lost the privilege of making mistakes.
Some young buyers rely on unconventional sources. Alayna Hooper, 23, received an $80,000 settlement from a car accident involving her parents. The money enabled her to purchase a Seattle home, though she still needed her mother to co‑sign. Hooper’s case highlights that ordinary savings often fall short. A Bank of America survey reports that 21 % of Gen Z prospective buyers plan to use a family loan for their down payment, compared with 15 % of the general population. In 2025, 22 % of Gen Z homeowners bought with siblings, up from 12 % in 2024.
Inheritance also plays a role. Donna Huang, 29, combined a $50,000 inheritance from her grandmother with proceeds from selling a Minneapolis condo to put a 20 % down payment on a Seattle home. She felt a mix of pride and guilt, noting that the process was daunting. Many young homeowners feel awkward about owning a house while peers still rent or accumulate debt. They may avoid house‑warming parties to avoid seeming boastful. They also find themselves in neighborhoods where neighbors are older, creating a social divide. Nino Delgado observes that his friends often travel or pursue risky careers, while he remains settled in his job and home.
Despite these challenges, some Gen Zers are making it happen. They sacrifice leisure, work extra jobs, and sometimes rely on family support or inheritance. The result is a new generation of homeowners who, while younger than the historical norm, face a market that is increasingly difficult to enter. Their stories underscore the shifting landscape of homeownership in Seattle and the broader United States, where rising prices, student debt, and limited supply combine to redefine the path to owning a home.
