Making the leap to homeownership has seemingly never been harder.
Data: Census Bureau; Note: Based on household income. Householder is the person/people in whose name the housing unit is owned or rented. Renter housing costs include monthly contract rent and utilities paid by the renter while owner costs include monthly mortgage payments and other debts, utilities, real estate taxes, insurance, etc.; Chart: Simran Parwani/AxiosOwning your own home is a critical step in building wealth in the U.S.
"is one of the most disheartening things in my life," says Nicolette Serbus, 26, who tells Axios she and her partner have hoped to leave their one-bedroom apartment for about two years."I had to find another way to make money," says Sharkey, who tells Axios she spends 33% of her income on rent.Many Gen Z renters have lower incomes but also lower bills beyond rent, which allows them to live in pricier locations, according to Parsons.
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