Where Are Gen Zers Buying Homes?

Members of Generation Z are aging up, with some of them already entering the housing market, but some metros are seeing a higher share of Gen-Z homebuyers than others. According to recent analysis by online lending platform LendingTree, Grand Rapids, Mich., had the highest share of mortgage requests in 2024. There, Gen Zers made up nearly one-third, or about 31.45%, of all mortgage requests. This is followed by Salt Lake City and Milwaukee, where Gen Zers made up 24.79% and 24.33% of mortgage requests, respectively.

On the other hand, many Western markets that are typically more expensive had the smallest number of Gen-Z buyers: San Francisco has just 9.68% Gen-Zers entering the housing market, while San Jose, Calif., and Las Vegas had 11.31% and 12.07%, respectively.

Matt Schulz — LendingTree chief consumer finance analyst and author of “Ask Questions, Save Money, Make More: How to Take Control of Your Financial Life” — believes these rankings boil down to affordability.

“Grand Rapids and Milwaukee are relatively average cost-of-living areas where homeownership may not be out of the question for younger people,” he says. “Salt Lake City, on the other hand, isn’t as affordable, but it has seen its young population explode in size in recent years, thanks in part to a thriving tech scene and booming economy. That economic growth has helped many young people in the area flourish economically to where they can afford to buy a house and put down roots in the area.” Read more