Mortgage loans in leading Gen Z metros U.S. 2020

In 2020, Salt Lake City, Utah, had the least affordable housing among the top ten metros with the highest share of Gen Z home buyers in the United States. The average requested mortgage loan amount by Gen Zers was 244,709 U.S. dollars. Between seven and nine percent of mortgage applications in the metros included in this statistic came from Gen Z home buyers. While house prices do in fact influence Gen Zers' choice, Salt Lake City, UT, had both the largest share of Gen Z mortgage requests and the highest loan amount.

Average requested mortgage loan amount in the metros with the highest share of Generation Z home buyers in the United States in 2020 (in U.S. dollars)

Characteristic	Average loan amount in U.S. dollars
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Release date

May 2021

More information

Region

United States

Survey time period

2020

Special properties

Generation Z

Supplementary notes

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, 2020, to Dec. 31, 2020."

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