Gen Z vs. Millennials: Who Has It Worse for Housing Costs in Every State?
Millennials can’t seem to catch a break when it comes to housing costs. Data from a new MoneyLion study reveals the generation stereotyped for spending their discretionary income on avocado toast and lattes instead of saving to buy a home pays more for housing compared to younger generations. Key findings indicate millennials are paying hundreds to thousands of dollars more than Gen Z in every U.S. state to cover monthly housing costs.
For this analysis, MoneyLion defined millennials as individuals with birth years between 1981 and 1996 and Gen Z as those with birth years in 1997 and later. We reviewed each state’s total population and number of households as well as median household income and national average expenditure costs for millennial and Gen Z households. Each state’s average cost of expenditures was calculated using the average expenditure costs and cost-of-living indexes for both age groups. Housing costs were isolated for millennials and Gen Zers by using the housing cost of living index and average expenditure cost of shelter.
We then calculated the monthly and annual cost of housing for each age group and the difference between them and sorted the states by largest difference to show how much more millennials pay for housing compared to Gen Z.
Key Findings
Millennials spend $1,000+ more for housing than Gen Z to live in Hawaii. They pay a whopping $1,152 more every month.
It costs millennials $500+ more every month for housing in seven high cost-of-living states. These states are Hawaii ($1,152), Massachusetts ($851), California ($768), New York ($673), New Jersey ($547), Maryland ($544) and Maine ($523).
There are 13 states where millennials pay $10,000+ more than Gen Z to cover annual cost-of-living expenses: Hawaii ($13,796), Alaska ($12,718), Massachusetts ($11,675), California ($11,453), Connecticut ($10,579), Oregon ($10,470), Washington ($10,462), Maine ($10,358), Vermont ($10,250), Rhode Island ($10,122), New Hampshire ($10,065), Maryland ($10,055) and New York ($10,050).
While millennials pay more than Gen Z for housing in every U.S. state, there are 10 states where the monthly difference between the two generations is $300 or less. The states where millennials are best positioned to catch a financial break are Iowa ($299), Missouri ($299), Kansas ($296), North Dakota ($292), Indiana ($290), Kentucky ($288), Mississippi ($276), Alabama ($274), West Virginia ($274) and Oklahoma ($265).
When it comes to Gen Z and millennials housing costs in every state, how big is the difference? Let’s find out.
1. Hawaii
Average annual cost of living (Gen Z): $89,335
Average annual cost of living (millennials): $103,131
Difference in cost of living: $13,796
Average monthly housing cost (Gen Z): $3,449
Average monthly housing cost (millennials): $4,601
Difference in housing costs: $1,152
2. Massachusetts
Average annual cost of living (Gen Z): $65,569
Average annual cost of living (millennials): $77,244
Difference in cost of living: $11,675
Average monthly housing cost (Gen Z): $2,550
Average monthly housing cost (millennials): $3,401
Difference in housing costs: $851
3. California
Average annual cost of living (Gen Z): $73,520
Average annual cost of living (millennials): $84,973
Difference in cost of living: $11,453
Average monthly housing cost (Gen Z): $2,300
Average monthly housing cost (millennials): $3,069
Difference in housing costs: $768
4. New York
Average annual cost of living (Gen Z): $50,418
Average annual cost of living (millennials): $60,468
Difference in cost of living: $10,050
Average monthly housing cost (Gen Z): $2,015
Average monthly housing cost (millennials): $2,688
Difference in housing costs: $673
5. New Jersey
Average annual cost of living (Gen Z): $57,068
Average annual cost of living (millennials): $66,992
Difference in cost of living: $9,924
Average monthly housing cost (Gen Z): $1,637
Average monthly housing cost (millennials): $2,184
Difference in housing costs: $547
6. Maryland
Average annual cost of living (Gen Z): $46,675
Average annual cost of living (millennials): $56,730
Difference in cost of living: $10,055
Average monthly housing cost (Gen Z): $1,630
Average monthly housing cost (millennials): $2,174
Difference in housing costs: $544
7. Maine
Average annual cost of living (Gen Z): $44,748
Average annual cost of living (millennials): $55,107
Difference in cost of living: $10,358
Average monthly housing cost (Gen Z): $1,566
Average monthly housing cost (millennials): $2,088
Difference in housing costs: $523
8. Vermont
Average annual cost of living (Gen Z): $43,644
Average annual cost of living (millennials): $53,894
Difference in cost of living: $10,250
Average monthly housing cost (Gen Z): $1,488
Average monthly housing cost (millennials): $1,985
Difference in housing costs: $497
9. Oregon
Average annual cost of living (Gen Z): $51,603
Average annual cost of living (millennials): $62,073
Difference in cost of living: $10,470
Average monthly housing cost (Gen Z): $1,470
Average monthly housing cost (millennials): $1,961
Difference in housing costs: $491
10. Arizona
Average annual cost of living (Gen Z): $44,604
Average annual cost of living (millennials): $54,040
Difference in cost of living: $9,436
Average monthly housing cost (Gen Z): $1,469
Average monthly housing cost (millennials): $1,959
Difference in housing costs: $490
11. Alaska
Average annual cost of living (Gen Z): $48,001
Average annual cost of living (millennials): $60,719
Difference in cost of living: $12,718
Average monthly housing cost (Gen Z): $1,426
Average monthly housing cost (millennials): $1,902
Difference in housing costs: $476
12. Connecticut
Average annual cost of living (Gen Z): $49,660
Average annual cost of living (millennials): $60,239
Difference in cost of living: $10,579
Average monthly housing cost (Gen Z): $1,411
Average monthly housing cost (millennials): $1,882
Difference in housing costs: $471
13. Washington
Average annual cost of living (Gen Z): $59,183
Average annual cost of living (millennials): $69,645
Difference in cost of living: $10,462
Average monthly housing cost (Gen Z): $1,365
Average monthly housing cost (millennials): $1,821
Difference in housing costs: $456
14. New Hampshire
Average annual cost of living (Gen Z): $53,008
Average annual cost of living (millennials): $63,073
Difference in cost of living: $10,065
Average monthly housing cost (Gen Z): $1,334
Average monthly housing cost (millennials): $1,779
Difference in housing costs: $445
15. Rhode Island
Average annual cost of living (Gen Z): $52,126
Average annual cost of living (millennials): $62,247
Difference in cost of living: $10,122
Average monthly housing cost (Gen Z): $1,328
Average monthly housing cost (millennials): $1,771
Difference in housing costs: $443
16. Nevada
Average annual cost of living (Gen Z): $47,085
Average annual cost of living (millennials): $56,373
Difference in cost of living: $9,288
Average monthly housing cost (Gen Z): $1,277
Average monthly housing cost (millennials): $1,704
Difference in housing costs: $426
17. Colorado
Average annual cost of living (Gen Z): $52,906
Average annual cost of living (millennials): $62,269
Difference in cost of living: $9,363
Average monthly housing cost (Gen Z): $1,255
Average monthly housing cost (millennials): $1,674
Difference in housing costs: $419
18. Utah
Average annual cost of living (Gen Z): $52,234
Average annual cost of living (millennials): $61,105
Difference in cost of living: $8,870
Average monthly housing cost (Gen Z): $1,255
Average monthly housing cost (millennials): $1,674
Difference in housing costs: $419
19. Virginia
Average annual cost of living (Gen Z): $44,029
Average annual cost of living (millennials): $53,526
Difference in cost of living: $9,497
Average monthly housing cost (Gen Z): $1,231
Average monthly housing cost (millennials): $1,642
Difference in housing costs: $411
20. Florida
Average annual cost of living (Gen Z): $42,167
Average annual cost of living (millennials): $51,468
Difference in cost of living: $9,301
Average monthly housing cost (Gen Z): $1,194
Average monthly housing cost (millennials): $1,593
Difference in housing costs: $399
21. Delaware
Average annual cost of living (Gen Z): $43,167
Average annual cost of living (millennials): $52,721
Difference in cost of living: $9,554
Average monthly housing cost (Gen Z): $1,180
Average monthly housing cost (millennials): $1,574
Difference in housing costs: $394
22. Idaho
Average annual cost of living (Gen Z): $47,617
Average annual cost of living (millennials): $56,851
Difference in cost of living: $9,234
Average monthly housing cost (Gen Z): $1,157
Average monthly housing cost (millennials): $1,544
Difference in housing costs: $386
23. Wisconsin
Average annual cost of living (Gen Z): $38,208
Average annual cost of living (millennials): $47,440
Difference in cost of living: $9,233
Average monthly housing cost (Gen Z): $1,142
Average monthly housing cost (millennials): $1,524
Difference in housing costs: $381
24. Montana
Average annual cost of living (Gen Z): $47,410
Average annual cost of living (millennials): $56,698
Difference in cost of living: $9,288
Average monthly housing cost (Gen Z): $1,089
Average monthly housing cost (millennials): $1,453
Difference in housing costs: $364
25. North Carolina
Average annual cost of living (Gen Z): $37,892
Average annual cost of living (millennials): $47,312
Difference in cost of living: $9,420
Average monthly housing cost (Gen Z): $1,084
Average monthly housing cost (millennials): $1,447
Difference in housing costs: $362
26. New Mexico
Average annual cost of living (Gen Z): $36,154
Average annual cost of living (millennials): $45,292
Difference in cost of living: $9,138
Average monthly housing cost (Gen Z): $1,022
Average monthly housing cost (millennials): $1,363
Difference in housing costs: $341
27. Ohio
Average annual cost of living (Gen Z): $31,943
Average annual cost of living (millennials): $41,203
Difference in cost of living: $9,260
Average monthly housing cost (Gen Z): $1,011
Average monthly housing cost (millennials): $1,348
Difference in housing costs: $337
28. Wyoming
Average annual cost of living (Gen Z): $39,699
Average annual cost of living (millennials): $48,867
Difference in cost of living: $9,168
Average monthly housing cost (Gen Z): $1,005
Average monthly housing cost (millennials): $1,340
Difference in housing costs: $336
29. Pennsylvania
Average annual cost of living (Gen Z): $35,118
Average annual cost of living (millennials): $44,622
Difference in cost of living: $9,504
Average monthly housing cost (Gen Z): $1,001
Average monthly housing cost (millennials): $1,336
Difference in housing costs: $334
30. South Dakota
Average annual cost of living (Gen Z): $36,469
Average annual cost of living (millennials): $45,601
Difference in cost of living: $9,132
Average monthly housing cost (Gen Z): $991
Average monthly housing cost (millennials): $1,322
Difference in housing costs: $331
31. Louisiana
Average annual cost of living (Gen Z): $28,790
Average annual cost of living (millennials): $37,581
Difference in cost of living: $8,792
Average monthly housing cost (Gen Z): $975
Average monthly housing cost (millennials): $1,300
Difference in housing costs: $326
32. Illinois
Average annual cost of living (Gen Z): $35,668
Average annual cost of living (millennials): $45,218
Difference in cost of living: $9,550
Average monthly housing cost (Gen Z): $973
Average monthly housing cost (millennials): $1,297
Difference in housing costs: $325
33. Tennessee
Average annual cost of living (Gen Z): $36,686
Average annual cost of living (millennials): $45,177
Difference in cost of living: $8,491
Average monthly housing cost (Gen Z): $951
Average monthly housing cost (millennials): $1,268
Difference in housing costs: $317
34. Minnesota
Average annual cost of living (Gen Z): $39,503
Average annual cost of living (millennials): $48,843
Difference in cost of living: $9,340
Average monthly housing cost (Gen Z): $930
Average monthly housing cost (millennials): $1,240
Difference in housing costs: $311
35. South Carolina
Average annual cost of living (Gen Z): $35,675
Average annual cost of living (millennials): $44,792
Difference in cost of living: $9,116
Average monthly housing cost (Gen Z): $930
Average monthly housing cost (millennials): $1,240
Difference in housing costs: $311
36. Georgia
Average annual cost of living (Gen Z): $37,581
Average annual cost of living (millennials): $46,811
Difference in cost of living: $9,229
Average monthly housing cost (Gen Z): $919
Average monthly housing cost (millennials): $1,227
Difference in housing costs: $307
37. Texas
Average annual cost of living (Gen Z): $35,037
Average annual cost of living (millennials): $44,176
Difference in cost of living: $9,140
Average monthly housing cost (Gen Z): $916
Average monthly housing cost (millennials): $1,222
Difference in housing costs: $306
38. Arkansas
Average annual cost of living (Gen Z): $29,148
Average annual cost of living (millennials): $37,777
Difference in cost of living: $8,629
Average monthly housing cost (Gen Z): $909
Average monthly housing cost (millennials): $1,213
Difference in housing costs: $304
39. Nebraska
Average annual cost of living (Gen Z): $33,596
Average annual cost of living (millennials): $42,647
Difference in cost of living: $9,052
Average monthly housing cost (Gen Z): $908
Average monthly housing cost (millennials): $1,211
Difference in housing costs: $303
40. Michigan
Average annual cost of living (Gen Z): $32,769
Average annual cost of living (millennials): $41,908
Difference in cost of living: $9,139
Average monthly housing cost (Gen Z): $903
Average monthly housing cost (millennials): $1,205
Difference in housing costs: $302
41. Iowa
Average annual cost of living (Gen Z): $30,922
Average annual cost of living (millennials): $39,927
Difference in cost of living: $9,005
Average monthly housing cost (Gen Z): $896
Average monthly housing cost (millennials): $1,196
Difference in housing costs: $299
42. Missouri
Average annual cost of living (Gen Z): $32,496
Average annual cost of living (millennials): $41,397
Difference in cost of living: $8,900
Average monthly housing cost (Gen Z): $894
Average monthly housing cost (millennials): $1,193
Difference in housing costs: $299
43. Kansas
Average annual cost of living (Gen Z): $31,238
Average annual cost of living (millennials): $40,180
Difference in cost of living: $8,942
Average monthly housing cost (Gen Z): $887
Average monthly housing cost (millennials): $1,183
Difference in housing costs: $296
44. North Dakota
Average annual cost of living (Gen Z): $34,798
Average annual cost of living (millennials): $44,082
Difference in cost of living: $9,285
Average monthly housing cost (Gen Z): $873
Average monthly housing cost (millennials): $1,165
Difference in housing costs: $292
45. Indiana
Average annual cost of living (Gen Z): $32,548
Average annual cost of living (millennials): $41,799
Difference in cost of living: $9,251
Average monthly housing cost (Gen Z): $870
Average monthly housing cost (millennials): $1,160
Difference in housing costs: $290
46. Kentucky
Average annual cost of living (Gen Z): $30,132
Average annual cost of living (millennials): $39,061
Difference in cost of living: $8,929
Average monthly housing cost (Gen Z): $863
Average monthly housing cost (millennials): $1,151
Difference in housing costs: $288
47. Mississippi
Average annual cost of living (Gen Z): $26,973
Average annual cost of living (millennials): $35,671
Difference in cost of living: $8,698
Average monthly housing cost (Gen Z): $826
Average monthly housing cost (millennials): $1,102
Difference in housing costs: $276
48. Alabama
Average annual cost of living (Gen Z): $30,237
Average annual cost of living (millennials): $39,117
Difference in cost of living: $8,880
Average monthly housing cost (Gen Z): $821
Average monthly housing cost (millennials): $1,096
Difference in housing costs: $274
49. West Virginia
Average annual cost of living (Gen Z): $26,500
Average annual cost of living (millennials): $35,492
Difference in cost of living: $8,992
Average monthly housing cost (Gen Z): $821
Average monthly housing cost (millennials): $1,096
Difference in housing costs: $274
50. Oklahoma
Average annual cost of living (Gen Z): $29,310
Average annual cost of living (millennials): $38,271
Difference in cost of living: $8,960
Average monthly housing cost (Gen Z): $794
Average monthly housing cost (millennials): $1,059
Difference in housing costs: $265
Methodology: For this study, MoneyLion analyzed housing costs for Gen Z and millennials to find out who has it worse in every state. First, MoneyLion used the U.S. Census 2024 5-Year ACS to source the total population, total households and median household income. The average single-family home value was sourced from Zillow Home Value Index. Assuming a 10% down payment and using the national average 30-year fixed mortgage rate of 6.66%, as sourced from the Federal Reserve Economic Data on Aug. 5, 2026, the average mortgage was calculated for each state. The cost-of-living indexes were sourced from Missouri Economic and Research Information Center. The national average expenditure costs for households with birth year 1997 and later as well households with birth year 1981 to 1996 were sourced from the Bureau of Labor Statistics Consumer Expenditure Survey. Using the average expenditure costs for each age group as well as the cost-of-living indexes, the average cost of expenditures in each state were calculated for both age groups. Using the average expenditure costs and the average mortgage cost, the total cost of living was calculated for each state for both age groups. The housing costs were isolated for each group by using the housing cost of living index as well as the average expenditure cost of shelter for each age group. The monthly and annual cost for housing for each age group was calculated and the difference between them was found. The states were then sorted to show the largest difference, showing how much more the cost for housing is for millennials compared to Gen Z. All data is up to date as of Aug. 5, 2026.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.