By Stephanie Martin, January 13, 2026
For generations, the path to homeownership looked a little like this: buy a small, affordable “starter home,” live in it for a few years, build equity, then upgrade when life—and budget—allowed.
But today’s buyers? They’re rewriting the script.
If you’re a millennial or part of Gen Z, chances are you’re not looking for that tiny fixer-upper in the suburbs. You’re aiming higher, dreaming bigger—and you’re definitely not alone. A recent Newsweek article highlights this growing trend: younger buyers are skipping starter homes altogether and holding out for something more long-term. Let’s unpack why—and what it means if you’re thinking about buying (or selling) in today’s market
So… Why Are Starter Homes Getting the Cold Shoulder?
1. They’re Not Actually Affordable Anymore
Starter homes used to be, well, affordable. But in many cities, including here in Portland, home prices have outpaced wages, and interest rates aren’t exactly helping. A “starter home” in 2025 might cost as much as a forever home did ten years ago. That makes saving for a down payment feel like a never-ending uphill battle—especially if you’re also juggling rent, student loans, and rising living costs.
2. You Want Quality, Not Just a Roof Overhead
You’re looking for move-in ready, energy-efficient, well-designed homes—not something that needs a full remodel before you even unpack. Let’s be honest: with everything else on your plate, the idea of pouring time and money into a major fixer-upper just isn’t appealing.
3. Life Isn’t on a Set Timeline
Marriage, kids, and career milestones are happening later (or in different orders), which means the pressure to “hurry up and buy something” has eased. Many of you are willing to rent a little longer if it means saving up for a home you really want—and plan to stay in for years.
Here’s How You’re Getting Creative Instead
You’re not giving up on homeownership—you’re just doing it on your terms.
• House Hacking
More and more young buyers are purchasing homes with extra units or ADUs (hello, Portland trend!) so they can rent part of the property to help cover the mortgage. It’s smart, it’s resourceful, and it turns your home into an income-generating asset from day one.
• Co-Buying with Friends or Family
Can’t afford it alone? Join forces. Co-buying is gaining traction—especially in high-cost markets. It’s a great way to build equity and create a stable living situation without draining your bank account.
• Moving to More Affordable Markets
Some buyers are broadening their search to up-and-coming neighborhoods or relocating to areas where their money goes further. In Portland, that might mean exploring east of 82nd, suburbs like Milwaukie or St. Johns, or even smaller cities within commuting distance.
What This Means for Buyers (and Sellers)
For Buyers:
If you’re skipping the “starter home” phase, that’s okay! Just know it means a bit more planning up front. Get clear on your budget, your must-haves, and your long-term goals. You might need to get creative—think co-buying, house hacking, or looking in a wider geographic range—but your dream is 100% doable.
For Sellers:
If you’re listing a smaller or older home, don’t panic. There’s still a market for it—you just might need to position it differently. Highlight features that appeal to investors, first-time buyers who love a good project, or even multigenerational households.
Bottom Line
Millennials and Gen Z buyers are proving that there’s no one “right” way to own a home. You’re strategic, you’re informed, and you want more than just a stepping stone—you want a place that truly fits your lifestyle and future plans.
And if you’re ready to start that journey—or just explore your options—I’m here to help. No pressure, no judgment, just real conversations and honest advice.
Let’s find the home that fits you—not just some outdated idea of what buying a house is “supposed” to look like.
Got questions about co-buying, house hacking, or what you can afford in today’s market? Let’s talk. 🏡
Stephanie Martin
Broker | OR
she/her
Originally from the Bay Area, Stephanie is a wife, mom of two, and daughter navigating the realities of aging parents. After moving more times than she can count, she became a professional problem-solver long before becoming a real estate broker.
As a transplant herself, Stephanie understands what it truly takes to uproot your life and start fresh in a new place. She and her husband have moved across the country—west to east, east back to west—and ultimately put down roots in Portland. They’ve relocated with kids, without kids, for work, for family, and in pursuit of a better quality of life. When they moved to Portland, they toured 30 homes in a single weekend, called school districts, mapped commutes, researched neighborhoods, and did everything possible to find the right place to land. Those experiences shaped Stephanie deeply, building resilience, resourcefulness, and a firsthand appreciation for the value of having a knowledgeable, supportive guide by your side.
Today, Stephanie brings that same clarity, empathy, and lived experience to her work as a Portland real estate broker, Certified Pricing Strategy Advisor (PSA), Certified Staging Expert (CSE), and Seniors Real Estate Specialist® (SRES). Caring for aging parents gives her a personal connection to her SRES training, allowing her to help older adults and their families navigate transitions with dignity, understanding, and confidence. Her PSA certification equips her to deliver data-driven pricing strategies and clear, thoughtful guidance at every stage. Stephanie believes a home is more than square footage—it’s where life is lived.
Before entering real estate, Stephanie built her career in people-centered roles, including hairstyling, pastry work, real estate administration, and transaction coordination. Each chapter strengthened her ability to listen deeply, anticipate needs, communicate clearly, and support people through meaningful life moments.
Whether clients are buying their first home, relocating to Portland, upsizing, downsizing, or preparing a longtime property for market, Stephanie approaches every goal with warmth, strategy, and a deeply service-driven mindset. She loves bringing people together—matching clients with the right home, neighborhood, resources, and even the perfect local coffee spot. As a Certified Staging Expert, she also helps sellers elevate their home’s presentation to maximize value and leave a lasting impression.
Outside of work, Stephanie enjoys hiking, yoga, exploring Portland’s food scene, thrifting, and adventuring with her family and their pit bull, Vince. Portland has given her a true sense of home, and she would be honored to help others find theirs.
Read More
- T: 510-926-7721
- stephaniemartin@livingroomre.com