Phoenix is 6th-most popular metro area for Gen Z homebuyers, study finds

Jun 1, 2021, 4:25 AM
(Pixabay photo)...
(Pixabay photo)
(Pixabay photo)

PHOENIX — Metro Phoenix is a desired area for most potential homebuyers, including those just entering the home buying market.

A study by Lending Tree, an online lending marketplace, found Phoenix is the 6th-most popular metro area for Gen Z homebuyers.

Members of Gen Z includes those born between 1997 and 2012, some who are starting their career and buying their first home.

The website generated the rankings by looking at the percentage of total purchase mortgage requests from Gen Z borrowers on the platform in 2020, with the higher percentage of requests resulting in a higher ranking.

Gen Z homebuyers represented 7.57% of Phoenix’s mortgage requests on the website, with the average age of potential buyers being 21.5.

The rankings also included the average credit score and down payment of potential Gen Z homebuyers as well as the average amount of loan requested.

Of the top 10 cities in the ranking, Phoenix had the highest down payment ($29,444) and second-highest requested loan amount ($229,338).

The average credit score of Gen Z homebuyers in Phoenix was third-best among the top 10 cities in the study at 664.

Salt Lake City, Utah, is the most popular city for Gen Z homebuyers, according to the study.

The study looked at 50 metro areas across the country and found San Francisco was the least popular spot for Gen Z homebuyers.

It’s not too hard to see why as San Francisco has the highest average down payment ($99,301) as well as the highest loan amount requested ($554,461).

Arizona News

(Twitter Photo/@TempePolice)...
Associated Press

Body of 18-year-old man recovered from Tempe Town Lake

Firefighters have recovered the dead body of an 18-year-old man who apparently drowned after jumping into Tempe Town Lake early Tuesday morning.
13 hours ago
(AP Photo)...

Poll finds over half oppose Ducey’s ban on mask mandates in Arizona schools

A poll of Arizonans showed more than half oppose Gov. Doug Ducey's ban on mask mandates in schools and withholding funds from districts that have mask requirements.
13 hours ago
(Bell Bank Park Rendering)...
Kevin Stone

Bell Bank gets naming rights to massive Mesa sports complex

The massive sports and entertainment complex opening next year in southeast Mesa will be known as Bell Bank Park under a 10-year naming rights deal announced Tuesday.
13 hours ago
(Twitter Photo/Phoenix Fire Department)...
Ali Vetnar

Phoenix mountain rescues decrease during pilot program to close trails in extreme heat

A city of Phoenix pilot program to close popular hiking trails during some of the hottest summer days has resulted in fewer mountain rescues for first responders, according to new data.
13 hours ago
Aloys Ntirushwamaboko (Photo via Phoenix Police Department)...

Silver Alert canceled after body identified as missing 103-year-old Phoenix man

A Silver Alert for a 103-year-old Phoenix man who had been missing for nearly a month was canceled Tuesday after formal identification of his body, authorities said.
13 hours ago
A vial of Covishield, an Indian made vaccine for COVID-19, lies at a vaccination center set up at a...

Arizona reports 1,934 new COVID-19 cases, 71 more deaths Tuesday

Arizona health officials on Tuesday reported 1,934 new COVID-19 cases and 71 additional deaths from the disease.
13 hours ago
Phoenix is 6th-most popular metro area for Gen Z homebuyers, study finds