For a large portion of young people in Mexico, buying a home is still far from being an immediate decision, as employment conditions, income, and a lack of savings have become some of the main barriers for those seeking to build wealth before the age of 30.
According to the report Housing Situation of Young People in Mexico, prepared by the National Housing Commission (Conavi), 8,908,508 people between the ages of 12 and 29 lived in conditions of housing deprivation during 2024.
This figure represented a 9.7% decrease compared with 2022, but 23.7% of people in this age group were still experiencing housing deprivation.
Leonardo González Tejeda, an economist and expert in the real estate market, stated that one of the biggest challenges facing the real estate sector is providing housing solutions for young people, who represent one of the main groups forming new households.
“The sector is facing a complicated situation: there is an affordability crisis, a shortage of housing inventory, and a highly uncertain macrofinancial environment. New generations are significantly behind and are being forced to remain at home with their parents, which has an impact on the dynamics of society,” he said in an interview.
Buying a Home Is a Priority, But…
The 2023 National Survey on Financial Health (ENSAFI) states that, out of a total of 23.1 million people between the ages of 18 and 29, 7.2 million young people consider buying or finishing paying for their home to be their main financial goal.
However, the lack of savings is the biggest obstacle to achieving this objective. Among the main difficulties identified in the survey are:
- Lack of savings (41.2%).
- Lack of employment opportunities or insufficient income (34.3%).
- Lack of access to credit (8.1%).
Only 4.6% of respondents said they had no difficulties acquiring or paying off their home.
“A common reference in personal finance is that housing expenses, whether through a mortgage or rent, should not exceed 30% of income. However, young people entering the workforce are already facing significant financial stress,” González stated.
This situation is compounded by the lack of mortgage products designed around the characteristics of this segment. Traditional banking instruments are focused on mortgage capacity supported by a credit history, which many young people still do not have.
The Price Barrier
The affordability gap has widened over the years, as housing prices are currently growing 2.6 times faster than wages, according to González.
According to the Federal Mortgage Society (SHF), between January and March 2026, the average national price of a home purchased with a mortgage loan was 2,024,337 pesos.
The rising cost of housing has also changed the conditions under which younger generations can build wealth.
Meanwhile, data from the 2024 National Survey of Household Income and Expenditures (ENIGH) suggests that in Mexico, young people between the ages of 20 and 29 receive an average quarterly income of 27,426 pesos.
“Baby Boomers purchased their first home during their first or second job. This has been delayed as generations have progressed,” González said.
Government Support
Given this situation, the government has identified young people as one of the priority groups in its strategy to address housing deprivation.
During 2025, Conavi provided 165,937 housing actions through the Social Housing program, of which 16,411, equivalent to 9.8%, were allocated to young people.
The Commission’s report indicates that 75.2% of the assistance provided to young people through the program in 2025 was carried out through the Housing for Well-Being program.
“Although there have been some efforts to support this segment, both in the public and private sectors, they are still insufficient. New financial instruments must be designed for young people, particularly those who are not affiliated with social security, are in their first or second job, and do not have the guarantees required to obtain a mortgage,” González concluded.
Source: es-us.noticias.yahoo
