Expensive California city Ranks Last for Young Homeowners in the U.S., Study Finds

San Jose has the lowest percentage of mortgage holders under 30 in the country, according to new data from LendingTree. The study found that just 0.8% of residents under 30 in California’s third-largest city have a mortgage, making it one of the toughest housing markets for young buyers.

New York City (1.2%) and Los Angeles (1.3%) followed closely behind. Other California cities also ranked poorly: Sacramento (1.6%) placed fifth, San Diego (1.7%) sixth, and San Francisco (2%) seventh. Nationwide, only 3.1% of young adults have a mortgage. In contrast, Nashville led the country at 9.4%.

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