America’s youngest generation is confronting a series of steep economic hurdles, from soaring inflation to mounting student loan debt, but that’s not stopping Generation Z from entering the housing market. In 2022, 30% of 25-year-olds owned their homes, Axios reports, but the most popular markets among younger buyers differ from older generations.
In 2022, Gen-Z homebuyers accounted for more than 20% of mortgage requests in Salt Lake City, Oklahoma City, Okla., Birmingham, Ala., Indianapolis, Cincinnati, and Louisville, Ky., all of which are home to relatively affordable houses, strong job markets, and favorable regional amenities.
"Gen Z's really defining feature is coming of age during the pandemic," said Pamela Aronson, a sociology professor at the University of Michigan-Dearborn, who has studied the age group. "So the opportunities and the resources that are available will impact this generation."
Some Gen Zers may have even fared better than millennials when they were the same age, according to 2023 RedFin data. In 2022, 30% of 25-year-olds owned their homes, compared to 28% when millennials were 25.
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