It's hard for Gen Z to buy homes. A study says this Indiana city is the most affordable

Marina Johnson, Indianapolis Star
·2 min read

Many younger Americans are currently facing the harsh reality of the home buyers’ market, where it’s nearly impossible to purchase the home of their dreams.

Specifically, Gen Z and some Millennials. Gen Z, born between 1997 and 2012, is estimated at 21% of the U.S. population, or around 69.58 million people, yet less than 17% of the demographic own a home.

Where is Gen Z most likely to be able to buy a home? A recent study by Point2 looked for answers. It claims Fort Wayne is the No. 1 city for members of Gen Z to become homeowners.

The research evaluated 100 major U.S. cities and the realistic ability for Gen Z members to purchase a home there using metrics including home price-to-income ratio, median sale price difference, inventory, share of homes sold above listing price, days on market, homeownership rate and unemployment.

What Indiana city is the most affordable for Gen Z buyers?

According to the data, Fort Wayne offers the highest chances for homeownership amongst Gen Z members thanks to its stellar rankings in home price-to-income ratio and unemployment rates. Out of 100 points, Fort Wayne scored 84.20 with a Gen Z unemployment rate of 4.1% and a Gen Z homeownership rate of 13.9%.

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Things to do in Fort Wayne

According to Tripadvisor.com, some fun attractions include the Fort Wayne Children’s Zoo, the Foellinger-Freimann Botanical Conservatory, the Fort Wayne Firefighters Museum, Science Central and more.

What cities are best for Gen Z buyers seeking their first home?

The top ten cities for Gen Z members eager to purchase a home include:

  • Fort Wayne, IN

  • Corpus Christi, TX

  • Detroit, MI

  • Laredo, TX

  • Memphis, TN

  • Lincoln, NE

  • Durham, NC

  • Fort Worth, TX

  • Aurora, CO

  • Scottsdale, AZ

Fort Wayne, the top affordable city for Gen Z’s, scored 84.20 of 100 based on the metrics, while the tenth location, Scottsdale, AZ, scored 72.78 out of 100. Scores for other cities fall between the two numbers.

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What cities are ranked lowest for Gen Z buyers?

  • Fremont, CA

  • San Diego, CA

  • Lexington, KY

  • San Jose, CA

  • Riverside, CA

  • Los Angeles, CA

  • Sacramento, CA

  • Chula Vista, CA

  • Richmond, VA

  • Newark, NJ

The worst-ranked city on the list, Fremont, California, known to be unaffordable to Gen Z members, scored 11.63 out of 100, while the tenth-ranked worst city on the list, Newark, New Jersey., scored 27.30 out of 100.

This article originally appeared on Louisville Courier Journal: Indiana city named most affordable for Gen Z home buyers