Scottsdale ranks among the cities where homeownership is most attainable for Gen Z, according to a new report from Point2Homes.
The real estate site analyzed the 100 largest markets in the U.S. based on home price-to-income ratio, year-over-year median sales price change, unemployment rate, housing inventory, Gen Z homeownership rate and more to determine the places where young people are most likely to be able to attain (and afford) homeownership.
Scottsdale ranked No. 10, thanks mostly to ample housing inventory. The city boasts 62.4 active listings per every 10,000 residents, one of the highest inventory volumes in the country. Furthermore, a high proportion of Gen Z residents already own homes at, 17.5%, while the Gen Z unemployment rate is only 3.5%.
It’s also worth noting that Scottsdale home prices have only increased 0.38% in the past year, and only 7.9% of homes in the area sell over asking price.
Mesa and Gilbert also made the top 20 — the Gen Z unemployment rate in Gilbert is only 1.6%, and 14.8% of Gen Z Mesa residents are already homeowners.