The most popular US metro areas for Gen Z homebuyers, ranked

• The first wave of Gen Z homebuyers is here, and they've taken a keen interest in the Midwest.
• A new study released by Realtor.com found that the median price of a home bought by Gen Zers is $160,600, which is lower than the $256,500 median price among millennial homebuyers.
• The study also found that, on average, Gen Z is putting around 5% down on their homes, and they purchase homes with listing prices that are 25% below the national average.
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The first wave of Gen Z homebuyers is here, and they're already proving to be much different from their millennial counterparts. One of the big differences between the two generations: their preferences in housing markets, a new Realtor.com study finds.

For Gen Z, the top housing markets are situated more in the Midwest and the South. In contrast, the top housing markets for millennials are San Francisco-Oakland-Hayward, CA, Boston-Cambridge-Newton, MA-NH, and Denver-Aurora-Lakewood, CO. Realtor.com notes that the notoriously expensive housing markets in these areas have probably shut out Gen Z buyers - at least for now.

The study also found that Gen Z home purchasing power has caught up to that of the Silent Generation (those born before 1946) - both groups hold percentage shares averaging around 2% of the homebuying market. The median price of homes purchased by Gen Zers is $160,000, which is lower than the $256,500 average for millenials. In addition, Realtor.com found that Gen Z is putting around 5% down on their homes and are purchasing properties with listing prices that are 25% less than the national average.

Here are the top 10 Gen Z housing markets, ranked in increasing order of Gen Z homebuyer percentages.

All source resident age data has been sourced from Data USA.