97% of Millennial Home Buyers Say Financial Barriers Are Holding Them Back From Homeownership in 2026

Three-quarters of millennials (75%) believe homeownership is out of reach for the average person in their generation, and 61% say buying a home makes them feel in over their heads financially.

ST. LOUIS, Jan. 6, 2026 /PRNewswire/ -- Although 40% of millennial home buyers say they're desperate to buy a home in 2026, nearly all (97%) report facing at least one barrier to homeownership, according to a new report from Clever Offers, a platform owned by Clever Real Estate that allows home sellers on tight timelines to explore their selling options.

Financial hurdles top millennials' home-buying challenges, with the most common barriers being expensive homes (46%), high interest rates (40%), difficulty saving for a down payment (34%), and high property taxes (30%).

Although the median U.S. home costs $410,800, 59% of millennials plan to spend less than $400,000 on their home purchase, including 67% of first-time buyers.

More than three-fourths of millennials (78%) say potential interest rate drops in 2026 would entice them to buy, but 51% would only consider purchasing if rates fall below the current level of about 6%.

Conversely, nearly half of millennials (49%) would consider accepting an interest rate above 6%, while 44% say they'd be willing to spend more than half of their monthly income on housing to afford a home.

Although more than a third of millennials (34%) say homeownership would be more affordable with their own better spending habits, most say they aren't willing to cut back on gym memberships (77%), subscription services (71%), or coffee (67%).

Based on their current savings, just 28% of millennials could afford a 20% down payment on a median-priced home, and fewer than half (45%) have enough for a 10% down payment.

Compounding those challenges, 1 in 4 millennials (24%) carry more debt than savings.

Three in four millennials (72%) say homeownership is still part of the American dream, but 41% think they'll be the last generation in their family able to afford one.

Read the full report at: https://cleveroffers.com/research/millennial-home-buyers-2026

About Clever Offers
Clever Offers is a platform that empowers sellers who need to sell quickly or for cash to compare options and make informed decisions. Clever Offers' free service connects sellers with vetted cash buyers and top local realtors, allowing them to evaluate traditional cash offers alongside options such as cash offers with a second payment upon resale, listing on the MLS for as little as 7 days, and standard open-market listings.

About Clever
Clever Real Estate's content reaches over 10 million readers annually, and its nationwide agent matching service has a 5.0-star Trustpilot rating across 3,800+ customer reviews. Since launching in 2017, Clever has reached $14.9 billion in real estate sold, matched 192,000+ customers with realtors, and saved consumers over $220 million on commission fees. Clever's network spans 18,000 agents across all 50 states.

CONTACT: 
Alyssa Evans
Clever Real Estate
[email protected]
315-690-1518

SOURCE Clever Offers