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70% of Gen Z House Hunters Would Go Over Budget for an Eco-Friendly Home


Young house hunters are putting sustainability at the top of their wish list. Millennials and members of Gen Z are 27% more likely than Baby Boomers to buy a green home, according to a survey from Payless Power, which provides prepaid energy in Texas.

In fact, 70% of Gen Zers said they’d be willing to go over budget for one.

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The most desirable features that sustainable-home shoppers are clamoring for include energy-efficient appliances (with 54% of respondents calling them a top choice); solar panels or LEED/Energy Star certification (49%); LED lighting (46%); and energy-conserving insulation (46%), according to the survey, which had more than 1,000 respondents.  

Looking at more than 70,000 properties on the real-estate listing site Redfin, the researchers found that across the US, residences tagged with the “green home” designation went for an average of $828,955, 41% more than the $589,227 brought in by comparable homes without the designation.

In some cities, eco-friendly features draw an even greater premium: Topping the list was Detroit, where green homes sold for an average of $321,989, or 180% more than traditional residences. Prospective buyers are also seeing green in Chicago and Philadelphia, and in Montgomery and Birmingham, Alabama.

Chart showing where green features add the most value

Payless Power

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