Under 35 yo’s Generation Rent. Not Quite Anymore
The "Generation Rent" narrative is shifting. New data shows under-35 homeownership jumped from 31% to 42% in a decade, while it actually fell for those aged 35-64. While affordability is still a hurdle, the dream of owning a home is far from dead for the youth. Is "Generation Rent" getting older? We explore the changing property landscape.
For years, we have been told that younger adults are becoming a permanent generation of renters, locked out of home ownership and unable to get onto the property ladder.
Yet the latest English Housing Survey data suggests the story is changing.
In 2014/15, just 31% of households headed by someone aged 16 to 34 were owner occupied. By 2024/25, that figure had risen to 42%.
And this is an important distinction. These figures are based on the household reference person, or HRP. In simple terms, this is the person in whose name the home is owned or rented. It does not include young adults simply living in their parents’ home.
Over the same decade, the proportion of under-35 households privately renting fell from 50% to 43%, while the proportion living in social housing dropped from 18% to 15%.
So, while younger people still face genuine affordability and deposit challenges, it is wrong to suggest that home ownership among the under-35s is disappearing. It has actually increased significantly.
The interesting contrast is further up the age scale.
Among households headed by someone aged 35 to 64, owner occupation fell from 68% to 64%, while private renting increased from 16% to 18%. Perhaps “Generation Rent” is no longer quite as young as many people assume.
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