The median age for first-time homebuyers in the United States just reached a record high of 40 years old. And if nothing changes, that means, at age 21, I’m about halfway to homeownership. 

Right now, it takes the typical American household about seven years to save for a down payment — roughly double the pre-pandemic timeline. Property taxes have also risen nationally, by over 30% since 2019. Together, these factors have created housing affordability anxiety among young Americans. Many states are looking to cut costs but are struggling to find a way to do so without jeopardizing funding toward municipal resources and public education.