Move over, millennials: Generation Z is moving into your neighborhood.
Although these folks are young — they were born between the years of 1997 and 2012 — adult members of this generation already account for an average of 14.91% of potential homebuyers across the nation’s 50 largest metros, according to LendingTree.
Recently, LendingTree looked at mortgage purchase requests from Gen Z shoppers who used the LendingTree platform at some point during 2022.
Based on that data, following are the most popular of the nation’s 50 largest metro areas for Gen Z homebuyers.
1. Salt Lake City
Percentage of mortgage requests from members of Generation Z in 2022: 22.59%
LendingTree says Salt Lake City is popular with younger homebuyers because it has a lot of jobs and offers “a good blend of urban and rural amenities.”
2. Oklahoma City
Percentage of mortgage requests from members of Generation Z in 2022: 22.36%
Housing is inexpensive in Oklahoma City, as we noted in “Houses Offer More Square Feet for the Money in These 10 Markets.” That fact probably makes the city popular with members of Generation Z.
3. Birmingham, Alabama
Percentage of mortgage requests from members of Generation Z in 2022: 20.79%
Not only is housing affordable in Birmingham itself, but a nearby suburb — Meadowbrook — made the list of “America’s Top 10 Suburbs for Homebuyers.”
The rest of the top 10
Here are the rest of the top 10 metros that are most popular with Generation Z homebuyers, according to LendingTree’s analysis:
- Indianapolis: 20.29% of mortgage requests in 2022 were from members of Generation Z
- Cincinnati: 20.27%
- Louisville: 20.20%
- Minneapolis: 18.69%
- St. Louis: 18.60%
- Nashville: 17.94%
- Kansas City, Missouri: 17.93%
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