10 Cities Majority of Gen Z Can Afford
Written by
Heather Altamirano
Edited by
Nicholas Morine
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Gen Z is ready to plant roots, but America’s youngest homebuyers are up against inflation, a high cost of living, and a lack of affordable housing. With an estimated 69.58 million people in this cohort, Gen Z makes up about 21% of the U.S. population and is facing economic challenges making it difficult to become a homeowner. Born between 1997 and 2012, the older Gen Zers are struggling to buy homes, and while coastal areas in states like California are too costly, there are cities where Gen Z have a chance at homeownership.
According to a study from Point2, the Midwest and the South provide opportunities for Gen Z to become homeowners. The data determined the best cities for Gen Zers to buy a home, based on seven metrics: home price-to-income ratio, the median sale price difference from 2022 to 2023, inventory, the share of homes sold above the listing price, days on the market, homeownership rate and unemployment rate.
Fort Wayne, Indiana
- Score: 84.20 out of 100
Fort Wayne is the most affordable city for Gen Zers who want to buy a home, per Point2. The city “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.”
Corpus Christi, Texas
- Score: 80.55 out of 100
Another option for Gen Z is Texas. “Corpus Christi, where homes cost about five times Gen Z’s median income… propels it to the top of the list of cities that make homeownership a less-distant reality for youngsters,” the study stated.
Detroit, Michigan
- Score: 80.53 out of 100
Coming in a close third is Detriot. “Despite ranking in the bottom half in terms of youth unemployment rate and homes sold above listing price, the city compensates by having a 6.10% drop in home prices, the best home price-to-income ratio among all of the cities analyzed, and one of the highest homeownership rates among Gen Zers at 16.7%,” the study outlined.
Other cities rounding out of the 10 places where it’s most likely Gen Zers could afford a home include the following:
- Laredo, Texas (78.70)
- Memphis, Tennessee (77.00)
- Lincoln, Nebraska (75.18)
- Durham, North Carolina (73.48)
- Fort Worth, Texas (73.13)
- Aurora, Colorado (72.78)
- Scottsdale, Arizona (72.53)
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