Most Popular Cities for Gen Z Homebuyers

Gen Zers are those born between 1997 and 2012 (present day, 25 years to 11 years old).

What are characteristics of Gen Z?

According to a new Stanford study, “a typical Gen Zer is a self-driver who deeply cares about others, strives for a diverse community, is highly collaborative and social, values flexibility, relevance, authenticity and non-hierarchical leadership, and, while dismayed about inherited issues like climate change, has a pragmatic attitude about the work that has to be done to address those issues.”

Gen Zers account for just 10% of homebuyers across the nation’s 50 largest metros, but are making a dent in the following Metros, because of their keen focus on investing and income:

1. Salt Lake City: Share of mortgages offered to Gen Zers: 16.60%

   Average Gen Z homebuyer age: 21.82

   Average credit score among Gen Z homebuyers: 701

   Average down payment amount among Gen Z homebuyers: $28,874

   Average requested loan amount among Gen Z homebuyers: $291,952

2. Louisville: Share of mortgages offered to Gen Zers: 15.68%

   Average Gen Z homebuyer age: 22.09

   Average credit score among Gen Z homebuyers: 699

   Average down payment amount among Gen Z homebuyers: $14,268

   Average requested loan amount among Gen Z homebuyers: $171,773

3. Oklahoma City: Share of mortgages offered to Gen Zers: 15.34%

   Average Gen Z homebuyer age: 22.17

   Average credit score among Gen Z homebuyers: 697

   Average down payment amount among Gen Z homebuyers: $19,690

   Average requested loan amount among Gen Z homebuyers: $173,752

Following these top three cities are Cincinnati, Indianapolis, Phoenix, Minneapolis, Birmingham, St Louis, MO, and Virginia Beach respectively.

Most Popular Metros for Gen Z Homebuyers

Least popular metros? Some of these likely won’t surprise you due to cost of living:

1. San Francisco: Share of mortgages offered to Gen Zers: 3.64%

   Average Gen Z homebuyer age: 22.53

   Average credit score among Gen Z homebuyers: 723

   Average down payment amount among Gen Z homebuyers: $42,933

   Average requested loan amount among Gen Z homebuyers: $408,005

2. New York: Share of mortgages offered to Gen Zers: 4.41%

   Average Gen Z homebuyer age: 22.53

   Average credit score among Gen Z homebuyers: 717

   Average down payment amount among Gen Z homebuyers: $31,877

   Average requested loan amount among Gen Z homebuyers: $302,268

3. San Jose: Share of mortgages offered to Gen Zers: 4.53%

   Average Gen Z homebuyer age: 22.44

   Average credit score among Gen Z homebuyers: 722

   Average down payment amount among Gen Z homebuyers: $48,041

   Average requested loan amount among Gen Z homebuyers: $425,545

Following these top three are Los Angeles, Boston, Miami, Washington, DC, San Diego, Seattle and Sacramento.

Our take? Look to GenZ to inform appreciation for the next decade or two. These “kids” are smart, investing early, and looking to build equity early.

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