04:01 PM EDT, 08/05/2024 (MT Newswires) -- Some younger home seekers are willing to make sacrifices on safety in order to find a home within their budget, according to a new survey published on Monday by Redfin (RDFN).

Overall, nearly one in every five people looking for a home are willing to sacrifice their physical safety to find a home they can afford within the next year, according to the survey of roughly 3,000 homeowners and renters conducted by Qualtrics in February.

The percentage was higher among the youngest demographics, with about 24% of Gen Z respondents saying they would be willing to live somewhere less safe for the right price, compared with about 18% of millennials and Gen Xers, and just 5% of boomers.

"Younger generations have come of age during a housing supply crunch, where prices are at all-time highs," said Redfin Senior Economist Elijah de la Campa. "Couple that with them earning less -- relative to older generations -- and you can see why they are willing to make more serious sacrifices to find a home they can afford."

About 16% of all respondents said concern for safety and crime was at least one of the factors driving their decision to move. Some 21% of Gen Xers said so, compared with about 18% of boomers, 15% of millennials and 13% of Gen Z.

Safety was the fourth-most cited reason for wanting to move overall. The top three drivers were more space, a lower cost of living and lower home prices.

Among home amenities, homebuyers were most willing, at 41%, to move further away from doctor and healthcare amenities, followed by restaurants, bars and coffee shops, at 36%, in order to find a home in their budget. About 26% said they would be willing to trade access to highly-rated schools, while 28% said they would be willing to live in an area with a higher risk of natural or climate disasters if it meant they could afford to buy a home.

The median US home sale price was down nearly $4,000 during the four weeks ended July 28 from a record high set in July, Redfin reported last week.

Price: 7.14, Change: -0.25, Percent Change: -3.38