“A Gen Z student purchased a condo while in college by leveraging financial discipline, strategic saving, and affordable housing markets. Skipping traditional college debt, securing stable income, and utilizing low-down-payment loans were key. This article explores practical strategies, real-world examples, and expert insights to show how young adults can achieve homeownership early.”
A Gen Z Student’s Path to Condo Ownership in College
The dream of homeownership often feels out of reach for college students, but some Gen Zers are defying the odds. Despite a challenging housing market with high prices and interest rates, strategic financial planning and unconventional approaches are enabling young adults to buy properties like condos while still in school. Here’s how one Gen Z student managed to purchase a condo and the broader trends that make it possible for others.
Financial Discipline from an Early Age
Adriana Moorman, a 21-year-old who bought a $202,000 condo in Baltimore, exemplifies the power of early financial awareness. Instead of pursuing a traditional four-year college degree, she entered the workforce in human resources, avoiding student loan debt. Moorman began saving for a home in high school, setting aside a portion of her income consistently. A small inheritance of a few thousand dollars supplemented her savings, but her disciplined approach allowed her to secure a condo independently. Her story highlights a key strategy: starting to save early and avoiding debt can create a strong financial foundation for homeownership.
Skipping College Debt for Faster Savings
Many Gen Zers are rethinking the traditional college path due to the burden of student loans, which average $37,000 for recent graduates. By opting out of costly degrees or choosing affordable education options like community colleges or trade schools, students like Moorman free up income for savings. According to the National Association of Realtors, 61% of Millennials cite student loan debt as a barrier to homeownership, but Gen Z is learning from this, with many prioritizing debt avoidance to accelerate their path to property ownership. Living with parents to bypass high rental costs is another tactic, allowing students to save aggressively for down payments.
Leveraging Affordable Housing Markets
Location plays a critical role in making homeownership feasible for college students. Moorman chose Baltimore, where the median condo price is significantly lower than in coastal cities like Los Angeles, where single-family homes often exceed $1 million. Emily Blaylock, a St. Louis real estate agent, notes that the rise of hybrid and remote work has encouraged Gen Z to consider suburbs or smaller cities, where homes are more affordable. For instance, cities like Cincinnati and Virginia Beach have become hotspots for young buyers due to lower entry costs. A Redfin analysis shows that Gen Z homeownership rates are higher than those of Millennials and Gen X at the same age, partly because of this willingness to relocate to affordable markets.
Utilizing First-Time Homebuyer Programs
Government-backed programs like FHA loans and state-specific initiatives are game-changers for young buyers. FHA loans require down payments as low as 3.5% and have more lenient credit score requirements, making them accessible to students with limited savings. For example, Emajja Bowen, a 23-year-old master’s graduate, used Georgia’s Dream program to secure a $274,000 condo in Atlanta with $7,500 in closing cost assistance and a 2.38% mortgage rate, compared to the market’s 3.07% at the time. Such programs reduce upfront costs and make monthly payments more manageable, enabling students to buy while still in college.
Creative Financing and Co-Buying
Some Gen Z students are turning to creative strategies like co-buying or house hacking. Co-buying with friends, family, or partners allows pooling resources to afford a property. A Bank of America report indicates that 25% of Gen Z homeowners purchased with parents and 22% with siblings, up from 12% in 2024. House hacking, where buyers rent out portions of their property, is another approach. Ryan Lehman, a 25-year-old software engineer, bought a $620,000 home in Seattle and rented out rooms to cover his mortgage, a strategy that can work for condos with extra space. These methods help students offset costs and build equity early.
Capitalizing on Market Shifts
Recent market trends are creating opportunities for young buyers. A Redfin report from May 2025 notes that home sellers now outnumber buyers, shifting negotiating power to purchasers. Rylee Arnold, a 28-year-old who bought a home in Salt Lake City, benefited from seller concessions that covered closing costs, making her purchase feasible. Students can take advantage of such shifts by being flexible with their offers and working with realtors who understand local market dynamics.
Technology and Research as Tools
Gen Z’s tech-savvy nature gives them an edge. Soli Cayetano, a 22-year-old who bought a rental property in Cincinnati while in college, used online platforms like Zillow and BiggerPockets to research markets and manage properties remotely. Social media, including TikTok and Instagram, also provides insights into real estate trends, with 87% of Gen Z viewing homeownership as a wealth-building tool, according to Arrived. This digital fluency helps students identify opportunities and connect with mentors or communities for advice.
Stable Income and Hustle Culture
A strong work ethic and multiple income streams are common among Gen Z buyers. Cayetano, for instance, worked various jobs since age 14, saving $20,000 for her down payment. Many students combine part-time jobs, internships, or side hustles like freelancing or content creation to boost their income. A tight labor market during the pandemic, with wages rising 12% in 2022 for Gen Z, also helped young buyers build savings faster than older generations.
Challenges and Considerations
Despite these successes, challenges remain. High interest rates, which hit 8% in 2023, and a national housing shortage of 3.2 million homes make affordability tough. Gen Z buyers often face lower incomes and limited credit histories, requiring meticulous planning. Susan Wachter, a real estate professor at the Wharton School, notes that affordability issues disproportionately affect minority groups, highlighting the need for inclusive policies and programs. Additionally, co-buying arrangements require clear legal agreements to avoid disputes, as 94% of co-owners report needing help with such contracts.
Real-World Inspiration
Brady Byrne, a 24-year-old real estate agent and college student, bought a condo in Naperville, Illinois, with plans to rent it out later. His story underscores the importance of viewing condos as both homes and investments. Similarly, Daniel Greene, a 22-year-old college graduate, used a 100% financed mortgage to buy a $212,800 home in North Carolina, showing that strategic loan programs can eliminate the need for large down payments. These examples illustrate that with the right approach, Gen Z students can turn the dream of homeownership into reality.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Consult a financial advisor before making investment decisions. Information is sourced from publicly available reports and news outlets, including CNN, Redfin, NAR, and Business Insider. Real estate markets vary, and individual results depend on personal circumstances and local conditions.
