Potential first-time home buyers are still encountering several obstacles when considering a purchase. These obstacles include student debt, according to a recent survey from NeighborWorks America, an organization focused on affordable housing.

  • Student debt impacts first-time buyers the most.
  • Rapidly rising home prices are also affecting first-time buyers.
  • The average age when Americans get married is rising. This is notable because marriage is a precursor to homeownership.

Potential first-time home buyers are still encountering several obstacles when considering a purchase.

These obstacles include student debt, according to a recent survey from NeighborWorks America, an organization focused on affordable housing.

The survey of 1,000 U.S. adults found that 57 percent of respondents acknowledged having student loans that are either “very much” or “somewhat” of an obstacle. In 2014, this percentage stood at 49 percent.

[Tweet “NeighborWorks American: More than half of adults have student loans that are obstacle to homeownership.”]

A recent Zillow report found student loan debt doesn’t lessen graduates’ chances of owning a home, but it can delay homeownership.

americaathome-loan2015_mediacenter

The report found that the more advanced someone’s degree, the greater odds they will own a home — even if significant debt has been taken on.

A married couple with one person holding a master’s degree and $50,000 in student loans has a 75 percent chance of homeownership. A similar household with a bachelor’s degree and $10,000 in loans has a 69 percent chance of homeownership.

NeighborWorks’ survey pointed to two additional items that may slow the housing market moving forward — a decline in the nationwide marriage rate and home price growth.

Roughly 43 percent of respondents plan to purchase a home when they “got married or moved in with a life partner.” According to the U.S. Census Bureau, the median age of first marriage has increase to 29.3 for men and 27 for women.

“It’s clear the housing market is directly affected by many factors, and these forces identified in our survey are putting strong downward pressure on growth,” said Paul Weech, president and CEO of NeighborWorks America.

Email Erik Pisor.

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription
×