Housing is slightly more affordable for Gen Z renters compared to millennials at the same age, with 58% of Gen Zers rent-burdened in 2022 versus 60% of millennials in 2012. Major cities like Austin, Phoenix, St. Louis, Orlando, and Pittsburgh show improved affordability, driven by increased housing supply from new construction. Gen Z renters are advised to keep housing costs under 30% of their income and to be aware of additional fees when budgeting for housing.
