Salt Lake City has the highest number of Gen Z homebuyers trends now
The youngest group of adults in the country, Generation Z, are choosing Salt Lake City, Utah, above other cities as the location where they want put down roots.
That's according to a new study from LendingTree, the marketplace that links mortgage applicants with lenders.
The Crossroads of the West narrowly beat out Oklahoma City, where down payments are as low as $18,752, to the number one spot with Birmingham, Alabama, rounding out the top three.
At the other end of the spectrum, crime and drug ridden San Francisco is by far the most unpopular choice.
The City by the Bay is followed in the race to the bottom by New York City, with average down payments for 18 to 25-year-old's at $66,561 and $46,476 respectively.
Lending Tree analyzed data from the 50 biggest metro areas in the country through 2022 to establish their findings. Typically, Generation Z is considered those born between 1997 and 2012.
Salt Lake City, Utah, is the most popular location for Generation Z homeowners
The generation accounts for just under 15 percent of all homebuyers across the US.
The Lending Tree study attributes Salt Lake City's presence at the top of the list to a strong job market and 'good blend of urban and rural amenities.' While Birmingham and Oklahoma City's presence is due to the inexpensive mortgage rates.
Crime is not mentioned as a reason for the presence of San Francisco, New York and San Jose, at the bottom of the list, the expensive real estate is cited in the study.
A total of six of the ten least popular cities are located in California. Again, 'expensive real estate' is listed as the reason.
The biggest disparity between average down payment costs come between Oklahoma City, where it's $18,752, and San Jose, where it's $77,786.
It's Buffalo, New York, which comes in a 16 on the list where the Generation Zers with the highest average credit score of 707 can be found.
Slightly below Buffalo, at 23, is New Orleans, where the lowest average credit score of 651 can be found.
The lowest amount on average borrowed by Generation Zers is in Cleveland, 17 on the list, where typically people
