Western Pa. Metro Sees High Share of Gen Z Homebuyers

Homeownership is currently out of reach for many Gen Z hopefuls, but a metro in western Pennsylvania saw one of the highest shares of Gen Z homebuyers last year, according to Investopedia. 

The Youngstown-Warren-Boardman, Ohio-Pennsylvania, metro made the top five U.S. metros of 2024 with the highest shares of Gen Z buyers. The metro, which stretches into Mercer County, had a 20% share of Gen Z buyers and a median home price of $136,040. 

Still, many in this cohort are struggling to afford a home. Top reasons include the high cost of rent and hefty student debt, which make it harder to save for a down payment. Investopedia reports that less than 4% of Gen Z can afford to put down 20% on a median-priced home, and only 40% can afford to put down the median first-time homebuyer downpayment of 9% on a starter home at $200,000. 

When asked how much money they have saved for a down payment, Gen Z renters responded: 

1. No money saved for a down payment (37%) 
2. Less than $10,000 (21%) 
3. $10,000 to $19,999 (13%) 
4. $20,000 to $29,999 (9%) 
5. $30,000 to $39,000 (7%) 
6. $40,000 to $49,999 (3%) 
7. $50,000 or more (4%)