A recent MReport and LendingTree study revealed that Generation Z is beginning to shop for homes, despite the ongoing pandemic. The study conducted by LendingTree analyzed the most popular destinations for Gen Z buyers and other home buying behaviors. The LendingTree report stated, “Gen Zers comprise just under 10% of potential homebuyers in any of the nation’s largest metros. But as the economy recovers and more of them reach adulthood, Gen Zers are poised to make an even greater mark on the housing market. While their overall impact on housing may be hard to predict, it’s clear that some Gen Zers are eager to join the ranks of homeowners sooner rather than later”. To determine these behaviors, researchers studied the mortgage purchase requests made across the nation’s 50 largest metros by people aged 18 to 23 between January 1st and October 1st.  


The study found that Salt Lake City, Oklahoma City, and Indianapolis all have a large amount of Gen Zers wanting to move there. In areas that tend to be more expensive, such as San Francisco and New York City, Gen Zers make up the smallest percentage of those moving there. Additionally, the report stated, “Gen Zers in San Francisco, San Jose, Calif. and New York City also had the highest average credit scores in the nation. Because loan amounts in these metros are so high, lenders usually require borrowers to have higher credit scores to get approved. It is for that reason that the average combined credit score for these three areas is 703, which is 39 points higher than the average for all 50 of the nation’s largest metros, 664”. LendingTree reported that Gen Zers in Birmingham, Memphis, and Virginia Beach had the lowest average credit scores across the nation’s largest cities. Finally, the study found that nearly 25% of Gen Zers reported receiving no assistance with their down payments when purchasing a home.  

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