Gen Z and millennials are "hacking" the housing market as high prices and interest rates make affordability difficult.
The term "house hacking" refers to the practice of renting out a portion of your home or an entire property for an additional stream of income.
Almost 4 in 10, 39%, of recent homebuyers say the practice represents a "very" or "extremely" important opportunity, according to a new report by housing market site Zillow.
In Zillow's survey, more than half of millennial, 55%, and Gen Z home buyers, 51%, expressed positive views on house hacking.
The average rate for 30-year mortgages hit 8% in October, the highest level seen in 23 years, according to Bankrate.
Persons:
Z, Gen, Zillow, homeownership, Manny Garcia
Organizations:
Finance, Homebuyers
Locations:
U.S