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Map Shows Where Gen Z Can Afford to Become Homeowners

The article from Newsweek discusses a study by Point2 Homes which analyzed where Generation Z (born between 1997 and 2012) can afford to buy homes in the U.S. The study found that in 2023, Gen Z can afford homes in only 10% of the 100 largest cities, with affordability being particularly challenging in cities like San Jose, San Francisco, and Los Angeles due to high home prices. Conversely, cities like Fort Wayne, Indiana, and Detroit, Michigan, are more affordable for this demographic. The analysis considered median home prices, median income for Gen Z, and the percentage of income needed for homeownership costs. The article highlights that while affordability has decreased since 2019, there are still pockets of opportunity for Gen Z to enter the housing market, particularly in the Midwest and parts of the South.

Read the Full Newsweek Article at:
[ https://www.newsweek.com/map-shows-where-gen-z-can-afford-become-homeowners-2040535 ]