For many Gen Zers, the goal of homeownership can seem out of reach due to having grown up facing a global pandemic, two-decade-high mortgage rates, skyrocketing inflation, and an overall challenging economy. 

However, a new study by Point2 ranks the country’s 100 largest cities in terms of which gives them the best fighting chance, and Philadelphia ranks 24th in the nation.

Together with Pittsburgh, Philly has some of the lowest median sale prices in the country. 

To produce the ranking, Point2 used seven metrics

Home Price-to-Income Ratio – to see how many household incomes (where the householder is under 25) would be needed to reach the median home price in a market.

Median Sale Price Difference – to understand how home 2023 prices are more impactful compared to 2022.

Inventory (per 10,000 residents) – to evaluate how many housing options are available.

Share of Homes Sold Above Listing Price – to assess bidding wars and competitivity in a market.

Days on Market – to determine how quickly homes fly off the market and measure competitiveness.

Homeownership Rate – to assess the real probability of adults under 25 achieving homeownership.

Unemployment Rate – to see where young adults have lower chances of financing homeownership.

Check out the best U.S. cities for Gen Zers looking to purchase a home in Point2Homes.

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