Home affordability for U.S. households headed by adults under 40 decreased between 2019 and 2024, according to a Pew Research Center analysis. The price-to-income ratio for these households rose from 2.9 in 2019 to 3.5 in 2024.

This increase occurred as home values grew at a faster rate than incomes for this demographic. The inflation-adjusted median home value for households headed by adults under 40 was $269,600 in 2019, which increased to $350,000 in 2024. This represents a 30% rise in home values during that five-year period.

In contrast, the inflation-adjusted median household income for the same group increased from $92,700 in 2019 to $100,900 in 2024. This change reflects a 9% increase in median household income. The Pew Research Center derived these figures from an analysis of 2024 American Community Survey data for home values and Current Population Survey data for incomes.

A survey conducted by the Pew Research Center found that 89% of U.S. adults younger than 40 believe it is more difficult for young adults to purchase a home today compared to their parents' generation. The price-to-income ratio for households headed by adults under 40 previously reached a peak of 3.6 in 2006.

Mortgage rates also increased during this period. The average 30-year fixed mortgage rate was 3.9% in 2019, according to Freddie Mac data. By 2024, the average 30-year fixed mortgage rate had risen to 6.7%. The Pew Research Center's survey of 10,091 U.S. adults was conducted between May 4 and May 17, 2026.