The global luxury real estate brand reveals the behaviors, attitudes, and mindset of the next generation of high-earning homebuyers.
NEW YORK, Feb. 24, 2026 /PRNewswire-PRWeb/ -- Engel & Völkers, a global leader in luxury residential real estate, announced today the release of its latest proprietary insight report, The New HENRYs: How the Next Generation Is Shaping Luxury Real Estate. This report is a comprehensive study examining the attitudes, behaviors, and purchasing priorities of the next generation of wealthy individuals within the cohort of High Earners, Not Rich Yet (HENRYs), and their growing influence on the luxury housing market in North America.
The report reveals that despite the trend of younger Americans delaying homeownership, this cohort has already been active in the market, which is even earlier than previous generations. Seventy-six percent of them already own a home, and nearly all (95%) plan to own a home before the age of 40. This stands in stark contrast to the broader population, where the median age of first-time homebuyers has risen to 40, according to the National Association of REALTORS®.
"As we face the largest transfer of wealth ever between generations, HENRYs are already shaping the luxury real estate market in North America," said Katelyn Castellano, Chief Marketing & Performance Officer, Engel & Völkers Americas. "They are financially disciplined and approach homeownership not only as a symbol of success, but as an extension of their identity. As a result, they are redefining luxury around ownership, quality, and long-term value."
HENRYs are clear that homeownership is deeply embedded in their definition of success and luxury. Eighty-six percent say owning a home is very or extremely important to achieving the American Dream and serves as the ultimate marker of luxury, surpassing traditional symbols such as fashion, travel, or services.
Additional findings from the report include:
- HENRYs choose ownership over access when it comes to luxury and lifestyle. More than two-thirds of HENRYs say that they favor owning luxury items over relying on experiences, rentals, or subscription-based models. They define luxury through premium quality, strong brand reputation, and meaningful price signals.
- Financially, HENRYs display traditional behaviors that closely align with those of older generations. They prioritize saving and long-term planning, with 77% putting away $1,500 or more each month. This disciplined approach to building wealth challenges common perceptions of younger consumers, revealing a cohort that is far more financially conservative and future-focused than often portrayed.
- HENRYs have a more traditional view of luxury. Eighty-two percent of HENRYs believe their generation values traditional luxury about the same or more than older generations. They place high value on the elements that have long been associated with classic luxury, such as ownership, quality, and brand reputation. This sets them apart from broader cultural narratives that their generation prioritizes access over acquisition.
The report is based on a survey of more than 1,000 North American consumers born between 1990 and 2003 with annual household incomes exceeding $100,000. To access the full report: https://www.evrealestate.com/en-US/insight-report-the-new-HENRYs
About Engel & Völkers
Engel & Völkers is a global luxury real estate brand. Founded in Hamburg, Germany, in 1977, Engel & Völkers draws on its rich European history to deliver a fresh approach to luxury real estate in the Americas with a focus on creating a personalized client experience at every stage of the home buying or selling process for today's savvy homeowner. The Engel & Völkers Network currently operates approximately 300 shop locations with approximately 6,000 real estate advisors in the Americas, contributing to the global network of over 16,000 real estate professionals in more than 30 countries, offering both private and institutional clients a professionally tailored range of luxury services, including real estate and yachting. Committed to exceptional service, Engel & Völkers supports its network of advisors with an array of premium quality business services; marketing programs and platforms; as well as access to its global network of real estate professionals, property listings, and market data. Each brokerage is independently owned and operated. For more information, visit www.evrealestate.com.
Media Contact
Rachel Provenzano, Mission Control Marketing, 1 585-748-2201, [email protected], https://www.missioncontrol.marketing/
SOURCE Engel & Völkers
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