10 Things Gen Z & Millennials Are Priced Out Of That Boomers & Gen X Could Afford No Problem
Photoroyalty | ShutterstockIt seems like Gen Zers and millennials are constantly getting the short end of the stick. Despite being raised in an age of technological advancement, life has been far from easy, at least compared to older generations. Gen Xers and baby boomers could afford many things back then, but today, Gen Zers and millennials are frustratingly priced out of those same things.
From being able to afford a new home to feeling relaxed about retirement, boomers and Gen Xers could move through life without worrying they couldn't buy necessities to grow their lives. Unfortunately, younger generations are struggling to keep up.
Things Gen Z and millennials are priced out of that boomers and Gen X could afford no problem
1. Buying a home
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Both Gen Z and millennials want to live the American dream. Growing up believing they could afford to purchase a home and not go broke, they've unfortunately been unable to do so. People can't raise a family if they don't have affordable housing, and since we're in a housing crisis, it seems impossible for these generations.
According to the National Association of Realtors, Americans need to make six figures to afford a median-priced home, upwards of $422,000. And with mortgage rates as high as 7%, they can't afford to invest in their retirement or families, let alone themselves.
2. Raising multiple kids
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While Gen Z and millennials haven't given up on their dreams of raising multiple kids, it's becoming less likely for them. For many, getting a high-paying job after college and settling down was a goal, but it's impossible now to survive off minimum wage. So, raising multiple kids is out of the question.
Back in the day, couples could have more than one child and still scrape by. The cost of living wasn't nearly as high, and though parenthood still comes with challenges, they likely didn't have to worry as much about their finances.
3. Attending college without going into massive debt
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For baby boomers and Gen Xers, college was something they could afford simply by working a job while they studied. Believing their kids could do the same, they taught them that going to college was the only way to be successful. As they now know, that's not true anymore.
Gen Z workers, especially, are choosing to opt out of college and go into trades instead. But for those who did attend university, they're stuck in lots of financial debt. According to research analyst Melanie Hanson, the average student loan debt is around $40,000.
4. Buying brand new cars
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Once upon a time, buying a brand new car was attainable. You could show off your hard work to your family and neighbors, but purchasing a new car has become a thing of the past. According to a YouGov survey, 59% of people consider buying second-hand, used cars before purchasing a new one.
When looking at the cost of a car, it's no wonder people are hesitating. Unlike a college degree, cars have an expiration date. Unable to last for a lifetime, people shouldn't spend a pretty penny for a vehicle. The younger generations know this, which is why they stick to used cars.
5. Having a big wedding
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Every person has thought of their wedding at some point in their lives. Dreaming of a big day filled with flowers and hundreds of guests, reality hasn't measured up if you're Gen Z or a millennial, who have been priced out of having a big wedding.
The wedding industry has become insanely expensive, with the average wedding costing $34,200. All those expenses add up over time, so people end up spending even more than that. Younger people have ended up resorting to eloping or having a courthouse wedding.
6. Going on regular vacations
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Every person deserves to have a break from the daily stress of life. After working so hard at work, going on vacation is the perfect reset people need for their mental health. Unfortunately, while boomers and Gen Xers could afford to go on regular vacations, Gen Z and millennials are being priced out of it.
Between airline tickets, renting a car, hotel costs, and hidden fees, it all piles up and makes it difficult to travel. Especially for someone getting paid minimum wage, taking regular vacations and checking out is simply no longer the norm.
7. Retiring comfortably
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People don't just work hard for the fun of it. Despite popular belief, Gen Z and millennials were once willing to give their all in the hopes of retiring one day. Unfortunately, the financial aspect of retirement is just another stressor for younger generations.
While boomers and even Gen Xers had a better economy to develop a good retirement plan, the same can't be said for millennials and Gen Zers. While it's important to save for retirement, many people are barely making ends meet as it is.
8. Healthcare without financial stress
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Healthcare is becoming less of a right and more of a privilege. While it might have been affordable once, younger generations are finding out how expensive it can be. In 2025, the average cost of a monthly premium was around $380 for the very basic plan, a 7% increase from the year before.
This is why so many Gen Z people and even millennials no longer have health insurance. With only so much money to spare and too many bills to pay, they can't afford an annual visit or basic medical care.
9. Building wealth early on
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Everyone wants to be financially successful and stable. Working hard to live a good life, it feels like building wealth early is something boomers and Gen Xers did with ease, but Gen Z and millennials are finding it hard to do in today's economy. Everything is expensive and it's only getting worse, so building wealth feels like a thing of the past.
They aren't trying to make excuses, but when they can't even make enough to take care of themselves and need to stay home to survive, that's the last thing they're worried about. Still, Gen Z and millennials try to make it work. Even if it means working extra hours or applying to dozens of other jobs, younger generations are truly resilient.
10. Living independently at a young age
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Unlike boomers and Gen Xers who could leave home at 18 and live comfortably, younger generations are opting to live with their parents. It isn't ideal, but rent prices are out of control.
Not only that, but according to the Bureau of Labor Statistics, around 7.3 million people are unemployed as of May 2026. With both of these factors, young people have been depending on their families for support. Independent living at a young age is just another promised dream that never came true.
Marielisa Reyes is a writer with a bachelor's in psychology who covers self-help, relationships, career, family, and trending topics.
