Gen Z is becoming old enough to buy houses, and that generation is flocking to more affordable cities and avoiding the expensive coasts.
This group, born between 1997 and 2012, accounted for an average of 14.91% of potential homebuyers in the 50 largest US metro areas in the 12 months through December 31, 2022, according to aSalt Lake City had the largest share of mortgage requests from Gen Zers at 22.59%, the analysis found. A strong local jobs market and a blend of urban and rural amenities make it a hot spot.
Meanwhile, San Francisco saw the smallest proportion of mortgage requests by Gen Zers at 7.76%, LendingTree said.
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