Gen Z Is Buying Homes With Siblings to Afford Rising Housing Costs

With home prices still sky-high and mortgage rates stuck near recent peaks, Gen Z buyers are turning to unconventional strategies to get their names on a deed. One approach gaining traction: buying homes with siblings.

A new report from the Bank of America Institute reveals a striking jump in co-buying among Gen Z. This year, 22% of young homeowners said they purchased property with a sibling—up from just 12% in 2024 and only 4% in 2023. It's a sign of how far this generation is willing to go to find a foothold in a housing market that often feels out of reach.

“Gen Z isn’t waiting for conditions to improve,” said Matt Vernon, head of consumer lending at Bank of America. “They’re adjusting their playbook—working more, saving harder, and teaming up with family when needed.”

Indeed, the grind is real. About 30% of Gen Z homeowners reported working an extra job to cover their down payment, according to the same report. That’s a modest bump from the previous year but reflects a clear shift: fewer are relying solely on help from parents and more are carving their own path—even if it means sharing a mortgage.

While co-ownership with a romantic partner is still the norm, buying with family or friends is increasingly common. A 2024 survey from JW Surety Bonds found that nearly 15% of U.S. buyers have co-purchased homes with someone who isn’t a spouse or partner. For Gen Z, siblings often make the most practical partners—especially when pooling income makes the difference between renting and owning.

Still, many are leaning on family in some form. Roughly one in five Gen Z buyers say they plan to use family loans to help fund a down payment, compared to 15% of buyers overall.

This creativity comes at a time when the U.S. homeownership rate for adults under 35 sits at just 36.6%, barely above its lowest point in five years. And for many young buyers, the question isn’t whether they want to own—it’s whether now is even the right time.

According to the Bank of America survey, 60% of homeowners and would-be buyers say they’re unsure if it’s a good time to buy. That’s the highest level of uncertainty in three years. Many are watching closely, hoping home prices and mortgage rates cool off in the months ahead.

They may have reason to wait. Redfin data shows home-sale prices have started falling in 11 of the country’s 50 largest metro areas. The company predicts a 1% national drop in home prices by the end of 2025. Zillow, which had once forecast price growth, now expects a 1.9% decline this year, citing more sellers slashing prices to meet cautious buyers.

Inventory is rising. Buyers are gaining leverage. And for those willing to share ownership or hustle for the down payment, the window to enter the market could finally be opening.

Also Read: 15 U.S. Cities Where Even Upper-Middle-Class Earners Can’t Afford a Home in 2025