In 2022, Oklahoma City, OK, had the lowest average mortgage down payment among the top ten metros with the highest share of Gen Z home buyers in the United States. Gen Zers looking to buy a home there had to save on average roughly 19,000 U.S. dollars for a down payment. Between 18 and 23 percent of mortgage applications in these 10 metros came from Gen Z home buyers. While house prices do in fact influence Gen Zers' choice, the metro with the largest share of Gen Z mortgage requests was Salt Lake City, Utah.
Average mortgage down payment in the metros with the highest share of Generation Z home buyers in the United States in 2022
(in U.S. dollars)
The source adds the following information: "LendingTree used generational definitions, from the Pew Research Center, to define the age range for Gen Zers as being born between 1997 and 2012.
Metropolitan statistical area (MSA) rankings were generated by looking at the percentage of total purchase mortgage requests from Gen Z borrowers on the LendingTree platform. The larger the share of requests from Gen Zers, the higher ranking a metro area received.
Borrower data was derived from mortgage requests and offers — given to users of the LendingTree mortgage shopping platform — across the nation’s 50 largest metropolitan areas from Jan. 1, 2022, to Dec. 31, 2022."
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LendingTree. (June 5, 2023). Average mortgage down payment in the metros with the highest share of Generation Z home buyers in the United States in 2022 (in U.S. dollars) [Graph]. In Statista. Retrieved November 03, 2024, from https://www.statista.com/statistics/1260411/down-payment-in-leading-metros-for-gen-z-home-buyers-usa/
LendingTree. "Average mortgage down payment in the metros with the highest share of Generation Z home buyers in the United States in 2022 (in U.S. dollars)." Chart. June 5, 2023. Statista. Accessed November 03, 2024. https://www.statista.com/statistics/1260411/down-payment-in-leading-metros-for-gen-z-home-buyers-usa/
LendingTree. (2023). Average mortgage down payment in the metros with the highest share of Generation Z home buyers in the United States in 2022 (in U.S. dollars). Statista. Statista Inc.. Accessed: November 03, 2024. https://www.statista.com/statistics/1260411/down-payment-in-leading-metros-for-gen-z-home-buyers-usa/
LendingTree. "Average Mortgage down Payment in The Metros with The Highest Share of Generation Z Home Buyers in The United States in 2022 (in U.S. Dollars)." Statista, Statista Inc., 5 Jun 2023, https://www.statista.com/statistics/1260411/down-payment-in-leading-metros-for-gen-z-home-buyers-usa/
LendingTree, Average mortgage down payment in the metros with the highest share of Generation Z home buyers in the United States in 2022 (in U.S. dollars) Statista, https://www.statista.com/statistics/1260411/down-payment-in-leading-metros-for-gen-z-home-buyers-usa/ (last visited November 03, 2024)
Average mortgage down payment in the metros with the highest share of Generation Z home buyers in the United States in 2022 (in U.S. dollars) [Graph], LendingTree, June 5, 2023. [Online]. Available: https://www.statista.com/statistics/1260411/down-payment-in-leading-metros-for-gen-z-home-buyers-usa/
