Housing Market Update
Gen X Spends the most Money per Year, Gen Z Spends the least on Housing
When looking at how the average Americans spends their money (and annual expenses) it’s interesting to look at the differences among the different generations. One of the most consistent spending categories is housing—it’s by the far the biggest expense for all age groups, accounting for more than 30% of total annual spending for every generation.
- The Silent Generation (born in 1945 or earlier) spent an average of $16k+ on housing
- Boomers (1946-1964) spend an average of $21k on housing
- Gen X, anyone born from 1965 to 1980, spent an average of $26k on housing
- Millennials (1981-1996), spend an average of $24K on housing
- Gen Zoomers (Gen Z): born in the 1990s through the early 2010s, spent an average of $15k on housing
source: Visual Capitalist’s Carmen Ang with data from the U.S. Bureau of Labor Statistics