Only 56% of 35-year-olds owned their home in 2024, compared to 59.4% of Gen Xers and 61.5% of baby boomers when they were 35. Barriers like increased housing costs, inflation, and limited inventory continue to delay homeownership for this generation as many reach key career and life milestones.
Recognizing these challenges, President Trump and I are focused on expanding access to housing through long-term solutions. Our commitment to self-sufficiency and economic opportunity is helping Americans—especially first-time buyers—gain the tools they need to succeed. In fact, according to the latest data from the Department of Housing and Urban Development, the Federal Housing Administration has insured more than 140,000 mortgages for first-time homebuyers since President Trump took office.
One of HUD’s key efforts in expanding access to housing is our continued support of Opportunity Zones, which are spurring investment in underserved communities, creating more affordable housing options and revitalizing communities across the country. As part of President Trump’s One Big Beautiful Bill, we have the opportunity to expand and extend the impact of Opportunity Zones. This opportunity shouldn’t be wasted.
At HUD, we’re also supporting Manufactured Housing Programs, which remain one of the most affordable housing options, and now account for 10% of new single-family home starts.
This National Homeownership Month, we celebrate not only the dream of owning a home—but also the efforts being made to make that dream attainable, especially for young Americans. With the right policies in place, more millennials can become homeowners and help shape the future of communities nationwide for generations to come.
Secretary Turner
U.S. Housing and Urban Development Secretary
