Skip to comments.Here are the Most and Least Popular Metros for Gen Z Homebuyers in the USA
Posted on 05/13/2022 8:44:31 PM PDT by SeekAndFind
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Though many Generation Zers — those born between 1997 and 2012 — are children or young teens, some older members are attending college, starting careers and buying homes for the first time.
But where are Gen Zers looking to buy? To answer, LendingTree analyzed mortgage offers given to adult Gen Z users of the LendingTree platform across the nation’s 50 largest metros from Jan. 1 through Dec. 31, 2021.
We found that although adult Gen Zers (ages 18 to 24) account for an average of 10% of homebuyers across the nation’s 50 largest metros, members of this generation are making a growing splash in the overall housing market.
Of course, our findings don’t mean that the future of homebuying will be smooth sailing for Gen Zers. In fact, because mortgage rates have risen dramatically since the start of the year while home prices have remained high, it’s likely that many would-be young buyers will find that purchasing a house is considerably more difficult this year than it would have been in 2021 and 2020, when rates were at or near record lows. This is especially true among Gen Zers, many of whom don’t earn especially high incomes because they’re just graduating college and starting their careers.
Owing to these challenges, many Gen Zers may consider cheaper alternatives to homebuying like renting or living with family.
Fortunately, while these more affordable options may be more appealing for the time being, Gen Zers will likely have more opportunities to become homebuyers over the coming years as their earnings increase and a greater supply of housing hits the market and brings prices down.
Rising rates, increasing home prices and low housing inventory have made homebuying more difficult for many Gen Zers. But that doesn’t mean homebuying is an impossible goal for members of that generation.
Here are three tips that can help Gen Zers make the homebuying process more manageable:
LendingTree used generational definitions from the Pew Research Center to define the age range for Gen Zers as being born between 1997 and 2012.
Metropolitan statistical area (MSA) rankings were generated by looking at the percentage of total purchase mortgage offers given by LendingTree to adult Gen Z borrowers (18 to 24) as a percentage of the total number of offers given to borrowers ages 18 to 80. The larger the share of requests from Gen Zers, the higher ranking a metro received.
Borrower data was derived from mortgage offers given to more than 890,000 users of the LendingTree mortgage shopping platform across the nation’s 50 largest metros from Jan. 1, 2021, to Dec. 31, 2021.
So Utah is now getting Californicated?
I think Cincinnati and Toledo and their suburbs are not a bad choice.
Gen Z Zones - bump for later...
Twenty-four is about two years out of college.
I didn’t buy until about 39 months out of college.
I would never lend money to an 18-year old to buy a house.
Toledo is traditionally Labor Leftists. Not a very MAGA place I wouldn’t think.
Am I wrong?
I grew up in upstate New York.
If snow hangs around, don’t hang around.
One works for and with people.
If the job is good, consider a purchase of a home.
I my youth I had many leftist friends.
Many persons nowadays are not only leftists, they are loonies.
Gen Z doesn’t mean born in California, and though the article implies it, it doesn’t have any data about people moving to these places, just that younger ppl are more likely to own in those locations.
Here is a theory for you: Mormons have more kids, so Utah has a higher percentage Gen Z population, so the numbers look bigger. The 19-25 age group is is 8.7% of US population, but 10.9% in Utah, highest of any state.
About every place more than 100 miles west of the Mississippi is getting Californicated.
And some places east of the Mississippi, such as Georgia and Tennessee, are going downhill.
I think math, more than emotion, accounts for the results.
In many places, such as Nashville and Austin, housing prices have become absurd.
Oklahoma City is one of the top 3 places Gen Zers are buying homes? Are kids moving to Oklahoma City? I can’t imagine kids Californicating Oklahoma. That won’t be accepted there.
“Though many Generation Zers — those born between 1997 and 2012 — are children or young teens, “
This is kind of a silly piece. You’ve pretty much got to be at least 18 to enter into a contract to buy real estate. So we’re just talking about a very narrow band of Gen Zers from 1997 to (early) 2004. There simply aren’t a lot of 18-25 year old who are in a financial position to buy a $1.5 million home in the Bay Area even if they wanted to. So, this ultimately has less to do with where Gen Z wants to live and more to do with a simple question of home-price affordability of various regions.
Oklahoma County is one of the few Republican-leaning urban counties left. However, Democrats have been making gains over the last several years. Several long-time Republican-held state house seats in the OKC area flipped to Democrat a few years ago. The 5th Congressional District elected Democrat Kendra Horn in 2018 based on Democrat strength in the Oklahoma County portion. But, she was then defeated by Republican Stephanie Bice in 2020. Also, Trump only won the county by 1% in 2020 after winning it by 10% in 2016. Of course, there could have easily been some shenanigans with the voting here as there was in other urban counties in 2020. Despite the Democrat gains, the Republican OKC mayor David Holt easily won reelection earlier this year, so Republicans may still be doing fairly well there for now.
Can I make more money hiring illegals?
Can I make money building and selling houses to hedonistic atheists?
Can I make money filling apartments with people who are gun haters and bike path lovers and soccer enthusiasts and envirowhackos?
Like Asians and Jews they are so assured in their own conservative lifestyles that they don't feel personally threatened by surrounding themselves with the enemy.
The move "SLC Punk" was made decades ago, so the rot was already happening. The two Mormon families I know have been through multiple divorces. The rot continues.
Mittens isn't an exception. He is the rule.
I think they may have misunderstand the data. Gen X in the most favorable cities want a house and can afford one in those cities market. Gen X er’s in the least popular cannot afford a home in those markets and many are woke and don’t believe in following lives’ plan. Note I heard that the entry level home in San Diego is over $800,000. No many Gen X can buy an $800,000 first home.
San Jose - “Average requested loan amount among Gen Z homebuyers: $425,545”
What are they buying? I read that and thought “Are they buying people’s lawn tractor sheds and converting them into mico houses?” lol
Surprise Birmingham, Alabama
The list says Louisville? As my screen name attests, I was born there. That place is a dump. The ghetto has incorporated the whole metro.
Kalifornians and Jamal and Loquitia. Good combo.
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