10 big U.S. cities where it’s easier for Gen Z to become homeowners

Being able to own a home is a goal for many, but the pandemic, inflation, high home prices and high mortgage rates have made that goal difficult for younger people on entry-level salaries. Gen Z (born between 1997 and 2012) are finding that better options are available in the Midwest and the South, instead of coastal living.

Michelle M. Havich, Editor

February 5, 2024

10 Slides
10 big U.S. cities where it’s easier for Gen Z to become homeowners

Already have an account?

Antsdrone/shutterstock

Being able to own a home is a goal for many, but the pandemic, inflation, high home prices and high mortgage rates have made that goal difficult for younger people on entry-level salaries. Gen Z (born between 1997 and 2012) are finding that better options are available in the Midwest and the South, instead of coastal living.

To look at the feasibility of Gen Z owning a home, Point2 recently rated the U.S.’s 100 major cities (including the five New York City boroughs) and ranked them based on seven metrics:

  • Home price-to-income ratio to see how many household incomes—where the householder is under 25—would be needed to reach the median home price in a market.

  • Median sale price difference to understand how home 2023 prices are more impactful compared to 2022.

  • Inventory (per 10,000 residents) to see how many housing options are available.

  • Share of homes sold above listing price to assess bidding and competitivity in a market.

  • Days on the market to determine how quickly homes sell and measure competitivity

  • Homeownership rate to assess the real probability of adults under 25 achieving homeownership.

  • Unemployment rate to see where young adults have lower chances of financing homeownership.

Point2 then used weighted averages of the metrics to calculate where Gen Z have a chance at homeownership, and ranked the 100 cities in order. Click the gallery above to see the top 10 cities offering Gen Z the best chance at home ownership.

About the Author

Michelle M. Havich

Editor, American City & County

Michelle M. Havich is an award-winning writer and editor with more than 20 years of experience in magazine publishing in a variety of niche markets with both commercial and B2B titles, including ATIDecorating SpacesPalm Beach Illustrated and Impressions. Before joining American City & County, she served as the managing editor of design:retail magazine.

Subscribe to receive American City & County Newsletters
Catch up on the latest trends, industry news, articles, research and analysis for government professionals