Homeownership is still considered a pillar in the American Dream, despite the fact that, since the dawn of the American Dream 100 years ago, homeownership has become drastically more complex and expensive. Buying a home can be a challenging financial feat for even established millennials. For younger generations, such as Gen Z, who are still early on in their earning years and buried in student loan debt, homeownership may not yet be possible. But there are exceptions to this.
Find Out: The Cheapest Place To Buy a Home in Every State
Read Next: 4 Low-Risk Ways To Build Your Savings in 2025
A LendingTree study of anonymized credit reports of users on its platform found that 3.1% of Americans under 30 have a mortgage in the 50 largest U.S. cities. These are the 10 major metros with the largest percentage. Sourcing data from Zillow, GOBankingRates found the average home price in each city and, using data from the U.S. Census Bureau, found the median household income.
Trending Now: Suze Orman’s Secret to a Wealthy Retirement–Have You Made This Money Move?
10. Louisville, Kentucky
Percentage of mortgage holders under 30: 6.4%
Average home value: $253,784
Median household income: $64,731
Check Out: 5 Cities Where Homes Will Be a Total Steal in 2 Years
9. Denver
Percentage of mortgage holders under 30: 7.0%
Average home value: $568,754
Median household income: $91,681
8. San Antonio
Percentage of mortgage holders under 30: 7.1%
Average home value: $257,632
Median household income: $62,917
7. Pittsburgh
Percentage of mortgage holders under 30: 7.3%
Average home value: $240,402
Median household income: $64,137
6. Virginia Beach, Virginia
Percentage of mortgage holders under 30: 8.0%
Average home value: $415,868
Median household income: $90,685
5. Raleigh, North Carolina
Percentage of mortgage holders under 30: 8.2%
Average home value: $449,756
Median household income: $82,424
4. Oklahoma City
Percentage of mortgage holders under 30: 8.9%
Average home value: $205,058
Median household income: $66,702
3. Cincinnati
Percentage of mortgage holders under 30: 8.9%
Average home value: $250,155
Median household income: $51,707
2. Salt Lake City
Percentage of mortgage holders under 30: 9.4%
Average home value: $575,584
Median household income: $72,951
1. Indianapolis
Percentage of mortgage holders under 30: 10.2%
Average home value: $232,146
Median household income: $62,995
Sources
LendingTree, “Less Than 5% of People With Mortgages Are Under 30 in Nation’s Biggest Metros.“
This article originally appeared on GOBankingRates.com: The 10 Cities With the Most People Under 30 Who Have a Mortgage
