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Salt Lake City is the Most Popular Metro with Gen Z Homebuyers

Salt Lake City


Salt Lake City is the Most Popular Metro with Gen Z Homebuyers

Salt Lake City is the most popular metro with Gen Z homebuyers, according to a new study.

The city is attractive to young buyers for its strong job market, affordable housing, and proximity to outdoor recreation.

Gen Z homebuyers are more likely to be first-time buyers than older generations.

They are also more likely to be interested in buying a home in a city or town.

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A new study by LendingTree found that Salt Lake City is the most popular metro with Gen Z homebuyers. The study, which analyzed mortgage purchase requests from adult Gen Z users of the LendingTree platform across the nation's 50 largest metros from Jan. 1 through Dec. 31, 2022, found that Salt Lake City had the largest share of mortgage requests from Gen Zers, at 22.59%.


There are a number of reasons why Salt Lake City is so popular with Gen Z homebuyers. The city has a strong job market, with unemployment rates well below the national average. The cost of living in Salt Lake City is also relatively affordable, making it a more accessible option for young buyers. And, the city is located near a number of popular outdoor recreation destinations, such as the Wasatch Mountains and the Great Salt Lake, which is attractive to young buyers who are looking for a city with a strong sense of community.


Gen Z homebuyers are more likely to be first-time buyers than older generations. In fact, the LendingTree study found that 73% of Gen Z homebuyers were first-time buyers. This is likely due to a number of factors, including the fact that Gen Z is the largest generation in the United States, and they are reaching homebuying age at a time when the housing market is very competitive.


Gen Z homebuyers are also more likely to be interested in buying a home in a city or town than older generations. The LendingTree study found that 57% of Gen Z homebuyers were interested in buying a home in a city or town, compared to 43% of millennials and 38% of baby boomers. This is likely due to the fact that Gen Z is more likely to be single or have a smaller family than older generations, and they are more likely to value walkability and access to amenities.


The growing popularity of Salt Lake City among Gen Z homebuyers is a sign of the changing demographics of the housing market. As Gen Z becomes the largest generation in the United States, they are expected to have a significant impact on the housing market. They are more likely to be first-time buyers, and they are more likely to be interested in buying a home in a city or town. This is likely to lead to changes in the types of homes that are built and the types of amenities that are offered in new developments.

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