As Generation Z grapples with high personal debt, their share of homebuyers is increasing in affordable Midwestern and Southern markets. A report from CoreLogic indicated that in 2024, Gen Z made up 13% of home purchase applications, up from 10% in the previous year. Des Moines, IA, and Omaha, NE, lead as the top cities for young homebuyers, attributed largely to lower median home prices—24% below national levels. This trend highlights how affordability is influencing housing choices for the younger generation, offering them better opportunities outside pricier coastal areas.
"Affordability in these areas is pronounced when compared to the rest of the country," says Archana Pradhan.
"Parts of the Midwest are particularly appealing for their affordability, but young buyers can also find opportunities in markets with ample for-sale inventory..." notes Hannah Jones.
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