Homeownership has long been the foundation for financial security, stability, and generational wealth. But for millions of Americans, especially younger renters, the dream of buying a home can feel out of reach.
We recently surveyed U.S. renters[1] to better understand their outlook on the prospects of owning a home. The findings reveal a surprising sense of optimism: nearly half (47%) believe they’ll be ready to purchase a home within the next four years, and that figure jumps to 67% when looking over the next eight years. Gen Z and Millennials, in particular, see a future where they will step confidently into homeownership.
This optimism is encouraging, but it also underscores the responsibility we share as an industry to help these aspirations become reality. Data plays a significant role.
Why modern credit scores matter
Every lending decision and credit score is built on a foundation of good data. And in the mortgage market, we believe data has the power to change lives and turn today’s renters into tomorrow’s homeowners.
Recent changes in the industry, including the Federal Housing Finance Agency (FHFA) and Director Pulte’s approval of VantageScore® 4.0 for use in mortgage decisions, are a testament to the value of data.
Unlike traditional models, VantageScore 4.0 considers alternative data, including rental payments, that reflect how consumers manage their everyday financial commitments. Now, with the introduction of more modern scores in mortgage lending, millions of responsible renters can have a fairer shot at achieving their dreams of homeownership.
For renters, this move is significant. Paying rent on time can be a strong indicator of readiness for homeownership, yet it historically wasn’t factored into mortgage credit scoring.
Building on Director Pulte’s move to make VantageScore 4.0 available for use in the mortgage market, as well as his call to uncover creative ways to make credit scoring more competitive and mortgages more affordable for Americans, we recently took the step to offer VantageScore 4.0 for free to mortgage lenders. As the first credit reporting agency to include positive rental payments on credit reports, and operator of the industry’s largest rental database with nearly 40 million rental profiles, we understand how beneficial predictive data, such as on-time rental payments, can be for improving consumers’ creditworthiness. We’re well equipped to help the industry leverage these insights while helping renters use their positive payment history to their advantage.
This change is an example of how smarter data can create a more inclusive financial system.
A shared opportunity for the industry
Today’s renters are motivated, ambitious, and ready to invest in their futures. As industry leaders, we have a responsibility and an opportunity to meet them where they are with modern tools and better data.
Together, we can help more people unlock the door to homeownership, strengthen financial resilience, and ensure the next generation of homeowners is equipped to thrive.
[1] Experian commissioned Atomik Research to conduct an online survey of 2,005 adults throughout the United States. The margin of error is +/- 2 percentage points with a confidence level of 95 percent. Fieldwork took place between May 15 and May 20, 2025.