Gen Z Started Building Wealth at 19 but 62 Percent Say They Still Can't Get Ahead, US Bank Survey Finds
A new US Bank survey found that Gen Z began accumulating wealth at an average age of 19, earlier than any previous generation. Despite that early start, 62 percent of Gen Z respondents said they struggle to make financial headway. Researchers point to record-high home prices, rising tuition costs, and stagnant wages as the main barriers.
Gen Z started building wealth at an average age of 19, earlier than any previous generation, but 62 percent of them say they still cannot get ahead financially, according to a new survey from US Bank released in October 2026.
The survey found that millennials began accumulating wealth at 25, Gen X at 29, and baby boomers at 32. Despite Gen Z's earlier start, structural economic barriers are limiting their progress.
The median age of first-time homebuyers has reached an all-time high of 40, according to data cited in the report. The median existing single-family home price is now nearly five times the median household income, making homeownership out of reach for many young adults even with steady employment.
Tuition costs have roughly doubled in inflation-adjusted dollars since the mid-1990s, and new and used vehicle prices remain elevated. Together, these costs are consuming a larger share of young workers' incomes than in previous generations.
"Gen Z is doing the right things earlier, but the math is harder," said a financial analyst who reviewed the survey results. "The assets they need to build wealth, homes, education, and reliable transportation, cost far more relative to income than they did for their parents."
The survey also found that Gen Z is more likely than older generations to use digital tools for budgeting and investing. Many respondents said they had opened investment accounts before age 21, and a significant share reported using apps to track spending and set savings goals.
Financial advisors say the findings underscore the need for policy changes that address housing supply, student debt, and wage growth. In the meantime, they recommend that young adults prioritize high-yield savings accounts, employer-matched retirement contributions, and low-cost index funds as foundational wealth-building tools.
