Gen X Feels Most Stress From Rising Homeownership Costs

Homeownership costs like maintenance, property taxes, energy, and insurance are rising higher and faster than inflation and causing high stress.

On a self-reported stress index, where 1 was no stress and 100 was huge financial and emotional stress, the average across all homeowners was 61.8. However, Gen Xers, aged 30 to 44, are feeling the pressures of rising homeownership costs more than other generations are and reported the stress at 73.2.

“Gen Xers are feeling the pinch because they're the sandwich generation and taking care of multiple generations (parents, kids, sometimes grandkids), and even though most of them are at the peak of their careers, they have multiple layers of financial responsibility,” says Sara Gutterman, CEO at Green Builder Media. “Also, Gen Xers lost most of their generational wealth in the 2008 housing crisis, making them a very conservative group of home buyers and owners.”

Boomers, aged 60 and above, are feeling less than half the stress of Gen X, reported at just 35.4. Gen Z, ages 18 to 29 years old, reported a 53.4 stress level, and Millennials were at 68.7.

Many factors come into play in these numbers, including where these homeowners are with other life responsibilities, such as paying off student loans, paying for daycare, saving for retirement, or making a career change.

Building cheaper homes won’t help deliver a sustainable option for homeowners either. Homeowners need long term value that lowers costs from day one to the end of the life of the mortgage.

The recent COGNITION Smart Data’s Energy Insights Report looks at more of the nuances between generations and what buyers value today versus two years ago.

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