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Cities Where It's Easier for Gen Z to Own a Home

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Cities Where It's Easier for Gen Z to Own a Home

Cities in the Midwest and South, such as Fort Wayne, Ind., Corpus Christi, Texas, and Detroit, offer America's youngest a homebuying window of opportunity

January 18, 2024
Group of happy Gen Z young adults
Image: Daniel / stock.adobe.com

Recent data from the U.S. Census Bureau show that the share of Gen-Z (adults younger than 25) households who own their home is less than 17%. Factors contributing to the challenges Gen Z faces in attaining homeownership include high mortgage rates and high home prices, but in addition, many Gen Zers also face hurdles associated with entry-level incomes, unemployment, and a lack of housing options.

To assess the feasibility of Gen-Z homeownership in 100 major U.S. cities, online real estate marketplace Point2 ranked the cities and found that some emerge as homebuying havens for this cohort. 

Although still new in the housing market, Gen Z’s homebuying patterns already diverge from those of older generations due to their unique lived experiences. Growing up during a global crisis, they have a heightened focus on wellbeing and going with whatever feels right. And for many, what feels right is having stability earlier in their lives compared to, say, millennials when they were the same age. ...

First, Fort Wayne, IN, offers the highest chances of homeownership by ranking particularly high in terms of home price-to-income ratio and the unemployment rate among the younger segment of the population. Next up is Corpus Christi, TX, where homes cost about five times Gen Z’s median income, which propels it to the top of the list of cities that make homeownership a less-distant reality for youngsters.

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