Print pagehttps://www.neighborworks.org/survey/homeownershipmonth2025For Immediate Release
June 13, 2025
Contact: Douglas Robinson
Homes Price and Income Gaps Keep Many Eager Homebuyers Sidelined According to New Survey from NeighborWorks America
Black Americans, Gen Z and Millennials Show Most Interest in Buying Over next 12 Months
Washington, D.C. – Even as more than a quarter of U.S. adults hope to purchase a home in the coming year, rising costs and affordability barriers are forcing many to wait. Twenty-seven percent (27%) of adults in America agree they are looking to purchase a home in the next twelve months, but one-third of adults who are either waiting to purchase or are uninterested, cite low income relative to prices as the chief obstacle to a purchase, while more than one-in-five (22%) are waiting for home prices to fall before they consider putting an offer on a home. That’s according to the latest homeownership attitude survey from NeighborWorks America, a leading nonprofit focused on creating homeownership opportunities and building homes to solve the housing crisis.
“The mismatch between home prices and income is freezing out individuals and families who want to buy a home,” said NeighborWorks America President & CEO Marietta Rodriguez. “We believe persistent myths about down payment requirements to buy a home are also holding back consumers from entering the home buying market.”
Among those expecting to be in the market over the next 12 months, 72% are saving for a down payment, but a plurality of potential buyers are proceeding with inaccurate information.
Rodriguez notes that according to the survey, nearly 40% of respondents think a 15% or more down payment is required when buying a house with a mortgage. The reality is the median down payment in 2024 was just 9% for first time buyers, with many buyers working with a NeighborWorks organization needing as little as three percent of the purchase price as the down payment. In fiscal year 2024, NeighborWorks network members helped more than 16,000 consumers purchase a home.
“NeighborWorks organizations across the country are expert in advising qualified buyers on how to access down payment assistance programs that help bridge affordability gaps,” said Rodriguez.
Black Consumer Most Eager to Buy in Next 12 Months
While 27% of adults agree that they are looking to purchase a home in the next 12 months, there are significant differences across demographics. As would be expected because Gen X and Baby Boomers have higher homeownership rates today (72% and 78.8%, respectively) they report less interest in being the home buying market over the next year. Specifically, just 23% of Gen X and 10% of Baby Boomers reported they will be in the home buying market over the next 12 months.
The bulk of the interest in buying a home in the next year is coming from Gen Z and Millennials, with 39% of each cohort eager to have bought a new home by this time next year. Additionally, 41% of Black adults anticipate being active buyers over the next year, compared to just 25% of White adults and 32% of Hispanic adults. The Black homeownership rate in 2024 was 46.4%, compared to the national 65.7% nationally.
“I’m excited to see young people interested in homeownership,” explained Rodriguez. “However, our survey clearly shows that a large number of people are discouraged. In fact, nearly one-third of adults believe homeownership is out of reach for them, and another 14% are unsure homeownership is attainable. Getting the right information to consumers about the process, programs and possibilities to achieve homeownership is what NeighborWorks organizations are here to do every day.”
Methodology: This poll was conducted by Morning Consult on behalf of NeighborWorks America between May 17-18, 2025 among a sample of 2,201 adults aged 18+ in the US. The interviews were conducted online and the data were weighted to approximate a target sample of adults based on age, gender, race, educational attainment, region, gender by age, and race by educational attainment. Results from the full survey have a margin of error of plus or minus 2 percentage points.
Review the full data from this survey.
About NeighborWorks America
For more than 45 years, Neighborhood Reinvestment Corp., a Congressionally chartered national nonprofit known as NeighborWorks America, has strived to make every community safer and more prosperous. Our network of excellence includes nearly 250 nonprofits in every state, the District of Columbia, Puerto Rico, and on Native lands. NeighborWorks offers grant funding, peer exchange, technical assistance, evaluation tools and access to best-in-class training as the nation's leading trainer of housing and community development professionals. NeighborWorks network organizations build homes and apartments, expanding the supply of affordable housing in every community; provide financial counseling and coaching that increases self-sufficiency; encourage resident leadership, and collaborate with local stakeholders in the areas of health, economic development, employment and education. In Fiscal Year 2024, for every dollar received from Congress, NeighborWorks network and NeighborWorks America attracted an additional $71 of investment from other sources.
