The Average American by Generation: Happiness, Education, Work, Wealth, Housing, Marriage & Security (2025)
Granite State Report — Special Research Feature
Scope. This report synthesizes the best available national datasets as of September 2025 and compares outcomes for Baby Boomers (born 1946–64), Generation X (1965–80), Millennials (1981–96), and Generation Z (1997–2012). Where official sources publish by age bands rather than strict generational labels, we align age bands to their nearest generational cohorts and clearly note the source and measure.
Executive Summary (Key Findings)
- Happiness & life satisfaction: The United States has slipped to its lowest rank ever in the World Happiness Report. The decline is most pronounced for younger Americans, who are now the least happy age group, reversing the historical pattern where youth reported higher well-being. Older adults (Boomers today) remain comparatively more satisfied. World Happiness Report 2024.
- Education: Educational attainment continues to rise among young adults. In 2024–25, about half of Americans aged 25–34 hold a postsecondary credential; women have surpassed men in BA attainment. NCES At-a-Glance.
- Employment: The prime-age employment-population ratio (25–54) remains historically strong, but youth unemployment (16–24) ticked up in summer 2025. BLS.
- Wealth: Pandemic-era savings, rising home values, and equity markets boosted median wealth across the board from 2019–2022, with Millennials/older Gen Z households logging some of the largest percentage gains—though absolute levels still trail older cohorts. Federal Reserve SCF.
- Housing: Affordability pressures and high mortgage rates have pushed the median first-time buyer age to 38, with Boomers now the largest share of buyers; younger buyers remain squeezed. NAR Generational Trends 2025.
- Marriage & partnering: The U.S. median age at first marriage is at a record high (≈30 men, ≈29 women). A record share of 40‑year‑olds (largely Millennials) has never been married, though most Gen Z adults still say they want to marry. Pew.
- Security: Violent crime declined in 2024 after pandemic-era spikes; nonetheless, financial insecurity persists—roughly half of adults lack 3 months of emergency savings. FBI, Bankrate.
Bottom line: Older cohorts (Boomers, older Gen X) continue to lead in wealth, homeownership, and subjective satisfaction. Younger cohorts (younger Millennials, Gen Z) are more educated but face steeper affordability and financial resilience hurdles, and report lower well-being.
Contents
- Happiness & Life Satisfaction
- Education & Skills
- Employment & Earnings
- Wealth, Savings & Debt
- Housing & Homeownership
- Marriage, Family & Household Formation
- Personal & Financial Security
- Generation-by-Generation Snapshot (Scorecard)
- What’s Driving the Differences?
- Policy & Personal Playbooks
- References & Data Notes
1) Happiness & Life Satisfaction
Trendline. The U.S. slipped out of the global top‑20 happiest countries for the first time in 2024 and edged lower again in 2025. The gap by age is striking. Older Americans report notably higher life evaluations, while younger Americans’ well‑being has fallen relative to the 2000s.
By cohort:
- Baby Boomers (now 60s–70s): Report some of the highest life satisfaction domestically. Stronger perceived social support and financial stability correlate with higher scores.
- Gen X (mid‑40s to late‑50s): Midlife strain—caregiving, peak work demands—tempers satisfaction, but levels are generally stable.
- Millennials (late‑20s to early‑40s): Mixed picture—improving finances for some, but affordability stress and family formation delays anchor scores.
- Gen Z (late teens to 20s): Lowest happiness among age groups in North America; anxiety, loneliness, and perceived lack of agency are recurring themes.
Why it matters. Subjective well‑being correlates with better health, productivity, and civic participation. The youth decline raises concerns about future social capital, family formation, and workforce engagement.
Watch/Embed:
- U.S. drops to lowest rank ever in World Happiness Report — quick overview (YouTube): https://www.youtube.com/watch?v=BDv9NtDjn0s
- World Happiness Report 2024 (Launch & highlights) — playlist & talks: https://www.youtube.com/playlist?list=PLfe8F4t8Q4aaN4dhpYTgquuHz2KJB9qtp
2) Education & Skills
Attainment continues to climb. Among 25–34‑year‑olds, over half have postsecondary credentials, and women have outpaced men in bachelor’s attainment—an historic flip from earlier generations. Rising attainment is most visible among Millennials and Gen Z.
Signals by generation:
- Boomers: Vast internal variation (Vietnam‑era to late‑Reagan graduates), but lower BA attainment compared with younger cohorts; extensive experiential capital.
- Gen X: Bridge generation—higher BA rates than Boomers, strong growth in master’s/professional credentials.
- Millennials: Best‑educated large cohort in U.S. history to date; women’s degree attainment especially strong.
- Gen Z: High school completion near universal; early college/credential momentum remains robust, though enrollment patterns are sensitive to price and labor market pulls.
Workforce implications. Degree premiums persist over the long run, but are increasingly heterogeneous by field; skills shortfalls remain in applied tech, advanced manufacturing, and health support roles.
Watch/Embed:
- NCES: The Condition of Education 2024 (overview) PDF: https://nces.ed.gov/pubs2024/2024144_AtaGlance.pdf
3) Employment & Earnings
Prime‑age strength, youth softness. The employment‑population ratio for ages 25–54 remains near multi‑decade highs, supporting household incomes. Youth (16–24) saw higher summer 2025 unemployment versus 2024, a reminder that early‑career workers are most cyclically exposed.
Generational context:
- Boomers: Rapid workforce exit continues, but a sizable minority remain employed, often part‑time/consulting.
- Gen X: Peak earning years; highest median household incomes among homebuyers per NAR’s 2025 report.
- Millennials: Career advancement accelerated post‑pandemic; earnings dispersion remains wide by field and location.
- Gen Z: Rapid job churn into entry‑level roles; some slack in youth unemployment and concerns about declining credit health.
Watch/Embed:
- BLS Employment-Population Ratio (interactive): https://www.bls.gov/charts/employment-situation/employment-population-ratio.htm
4) Wealth, Savings & Debt
The wealth picture. Median net worth rose sharply from 2019–2022 across the distribution (home prices + equities + stimulus‑era savings), per the Federal Reserve’s Survey of Consumer Finances (SCF). Younger families (older Gen Z/Millennials) logged outsized percentage gains, though absolute wealth remains far higher among Boomers/Gen X.
By generation:
- Boomers: Largest absolute wealth; many in drawdown or legacy‑planning mode. Housing equity + retirement accounts dominate.
- Gen X: Peak accumulation years; high incomes, heavy obligations (tuition, elder care). Wealth levels highly sensitive to home equity and market cycles.
- Millennials: Fastest recent percentage growth from a lower base; home equity catching up but delayed entry reduces compounding window.
- Gen Z: Early accumulation; small balances overall but highest adoption of automated investing/saving tools.
Debt & resilience. Student debt burdens remain concentrated among 35–49 and 50–61 age groups; about half of adults lack 3 months’ emergency savings. Credit stress is more visible among the youngest borrowers as student loan delinquencies re‑surface post‑pause.
Watch/Embed:
- Federal Reserve: Survey of Consumer Finances (what it is & why it matters): https://www.youtube.com/watch?v=I5r50rCIVc0
- The State of the Nation’s Housing (Harvard JCHS video): https://www.youtube.com/watch?v=6uedoFfqsT4
5) Housing & Homeownership
Affordability shock. High prices + higher mortgage rates + thin inventory = older homebuyers and fewer first‑timers. In 2024, the median first‑time buyer was age 38; Boomers accounted for the largest share of buyers, and the share of first‑time buyers fell to 24%.
Cohort dynamics:
- Boomers: Downsizing, cash purchases, and inter‑state moves shape markets (and free up equity for consumption or transfers).
- Gen X: Trading up or re‑locating for work/family; strongest buyer income profiles.
- Millennials: Delayed first purchases; many priced into longer renting stretches or multigenerational living.
- Gen Z: Aspiration high; affordability headwinds strongest. Some leverage family assistance; others wait for rate normalization.
Homeownership by age. Census HVS series shows persistent gaps for under‑35 households relative to 1980s cohorts; younger generations have yet to match sub‑35 ownership rates achieved by Boomers/Gen X at the same life stage.
Watch/Embed:
- Top Trends from NAR’s Profile of Home Buyers & Sellers (explainer): https://www.youtube.com/watch?v=hplQF9E1Ro0
- Mortgage rates and affordability (CNBC clip with NAR’s Lawrence Yun): https://www.youtube.com/watch?v=eFI2gGi84bI
6) Marriage, Family & Household Formation
Later, less, uneven. The median age at first marriage reached ≈30 (men) and ≈29 (women) in 2024. As of 2021, a record 25% of 40‑year‑olds had never been married (largely Millennials). Yet surveys show most Gen Z adults still aspire to marry in the future.
Implications: Delays cascade into later fertility, longer renting, and slower wealth compounding via home equity. The distribution also bifurcates by education: college‑educated adults marry more and sooner, widening gaps in dual‑income stability and child outcomes.
Watch/Embed:
- Marriage ages over time — context & trends (The Knot data explainer): https://www.theknot.com/content/average-age-of-marriage
7) Personal & Financial Security
Crime & safety. After pandemic‑era spikes, violent crime fell in 2024, with homicides and property crime both down versus 2023. Perceptions lag improvements, but the multi‑city and FBI aggregates point down.
Financial security. Emergency-savings gaps remain: roughly half of Americans cannot cover 3 months of expenses from liquid savings, and about 6 in 10 report they couldn’t pay a $1,000 expense from savings alone without borrowing.
Food security. USDA estimates 13–14% of households experienced food insecurity at some point in 2023, with higher rates in households with children.
Watch/Embed:
- Understanding crime trends (news explainer): https://stateline.org/2025/08/08/us-crime-rates-fell-nationwide-in-2024-fbi-report-says/
8) Generation-by-Generation Snapshot (Scorecard)
Subjective well‑being (rank within U.S. age groups)
- Boomers: High
- Gen X: Medium
- Millennials: Medium‑Low
- Gen Z: Low
Education (share with postsecondary credentials)
- Boomers: Moderate
- Gen X: Higher
- Millennials: Highest (to date)
- Gen Z: Rising fast
Employment (typical labor market position, 2025)
- Boomers: Partial/late‑career or retired; lower participation
- Gen X: Peak earnings & employment
- Millennials: Advancing; uneven by field/location
- Gen Z: Entry‑level; higher unemployment volatility
Wealth (median/absolute)
- Boomers: Highest absolute
- Gen X: High and rising
- Millennials: Improving fastest %; lower absolute
- Gen Z: Early accumulation
Housing (ownership & buying power)
- Boomers: Strongest (equity/cash)
- Gen X: Strong (income + equity)
- Millennials: Constrained by affordability, later entry
- Gen Z: Most constrained
Marriage/Family formation
- Boomers: High marriage rates at earlier ages
- Gen X: High but later than Boomers
- Millennials: Lower by age‑40 than prior cohorts
- Gen Z: High intent; later timing likely
Security
- Crime exposure: Broadly improving backdrop
- Financial buffers: Weakest for Millennials/Gen Z; strongest for Boomers/Gen X
9) What’s Driving the Differences?
- Price levels & interest rates. Housing costs, tuition, and childcare outpaced wage growth for much of the 2010s–early 2020s. Higher mortgage rates since 2022 amplified affordability gaps for first‑time buyers.
- Asset cycles & timing. Boomers and older Gen Xers captured longer compounding tails in housing and equities. Millennials’ delayed entry means fewer “market cycles” to accumulate.
- Education premiums & debt. Degree premiums persist, but student debt loads shaped early adult finances for Millennials/Gen Z. Debt is now increasingly concentrated among 35–49 and 50–61, reflecting graduate degrees and Parent PLUS loans.
- Social capital & mental health. Youth loneliness and anxiety, paired with digital attention markets, correlate with lower life satisfaction. Older adults often report stronger in‑real‑life ties and community embeddedness.
- Family formation feedback loops. Later marriage delays dual‑income stabilizers and home purchases, which feed back into wealth gaps.
10) Playbooks (Policy & Personal)
Policy levers
- Housing supply & finance: Zone for density near jobs/transit; streamline permitting; expand down‑payment assistance for first‑gen buyers; incentivize small‑balance mortgage markets.
- Education‑to‑work: Scale high‑ROI career/technical tracks; expand apprenticeships; link Pell to short‑cycle credentials with proven wage lifts.
- Savings & wealth‑building: Auto‑enroll workers into retirement plans; seed child development/529‑style accounts; match savings for low‑ and moderate‑income households.
- Mental health & social connection: Invest in youth mental health services, community colleges, and third spaces.
- Family affordability: Childcare supply reforms; targeted tax credits for first‑time parents.
Personal strategies
- Younger cohorts (Gen Z/Millennials): Emphasize emergency funds; consolidate/optimize student loans; prioritize skills with clear earnings ladders; consider geo‑arbitrage; buy a starter home when total monthly carrying costs ≤ ~30–35% of gross income.
- Mid‑career (Gen X): Balance peak earnings with diversification; stress‑test retirement projections; plan for elder‑care costs; consider partial Roth conversions.
- Pre‑retirees (Boomers): Sequence withdrawals tax‑efficiently; evaluate downsizing; formalize legacy/inheritance plans (beneficiaries, TODs, trusts).
11) References & Data Notes (live links)
- World Happiness Report 2024 (age cuts; youth decline in NA): https://worldhappiness.report/ed/2024/happiness-of-the-younger-the-older-and-those-in-between/
- Gallup on U.S. personal life satisfaction (2025): https://news.gallup.com/poll/655493/new-low-satisfied-personal-life.aspx
- NCES — Condition of Education 2024 (educational attainment 25–34): https://nces.ed.gov/programs/coe/ataglance and PDF: https://nces.ed.gov/pubs2024/2024144_AtaGlance.pdf
- BLS — Employment‑Population Ratio (interactive): https://www.bls.gov/charts/employment-situation/employment-population-ratio.htm ; Youth labor 2025: https://www.bls.gov/news.release/youth.nr0.htm
- Federal Reserve — Survey of Consumer Finances (SCF) 2022: https://www.federalreserve.gov/econres/scfindex.htm ; SCF charts: https://www.federalreserve.gov/econres/scf/dataviz/scf/chart/
- St. Louis Fed (On the Economy) — Younger families’ wealth gains in 2022: https://www.stlouisfed.org/on-the-economy/2024/feb/millennials-older-gen-zers-significant-wealth-gain-2022
- NAR — Generational Trends 2025; first‑time buyer age & shares: https://www.nar.realtor/research-and-statistics/research-reports/home-buyer-and-seller-generational-trends ; 2025 PDF: https://cms.nar.realtor/sites/default/files/2025-04/2025-home-buyers-and-sellers-generational-trends-04-01-2025.pdf
- Census — Homeownership by age; HVS figures: https://www.census.gov/housing/hvs/data/reports.html (Figure 7 PDF)
- Pew — Record share of 40‑year‑olds never married (2021 cohort): https://www.pewresearch.org/short-reads/2023/06/28/a-record-high-share-of-40-year-olds-in-the-us-have-never-been-married/
- Pew — Young adults’ marriage intentions (2024): https://www.pewresearch.org/short-reads/2024/02/15/among-young-adults-without-children-men-are-more-likely-than-women-to-say-they-want-to-be-parents-someday/
- FBI — 2024 crime statistics (released 2025): https://www.fbi.gov/news/press-releases/fbi-releases-2024-reported-crimes-in-the-nation-statistics ; Council on Criminal Justice mid‑year 2025: https://counciloncj.org/crime-trends-in-u-s-cities-mid-year-2025-update/
- USDA ERS — Food insecurity (2023): https://www.ers.usda.gov/topics/food-nutrition-assistance/food-security-in-the-us/key-statistics-graphics
- Bankrate — Emergency savings (2025): https://www.bankrate.com/banking/savings/emergency-savings-report/
Data harmonization note: Where sources publish by age (not generation), we map age bands to their proximate cohorts as of 2024–25 and present directional comparisons rather than strict point estimates by generation. All links above route to primary data or publisher summaries; be mindful of methodology notes when comparing across series.
