RICHMOND, Va. — Richmond ranked as one of the worst cities in the United States for Gen Z to have a chance of owning a home, according to a new study.
Richmond ranked 91, nearly dead last, among the 100 major cities in the United States.
Point 2, a site that studies real estate trends, reported that Richmond carried a low Gen Z homeownership rate at just 1.5%, meaning the chances of anyone from that generation (born between 1997 and 2012) owning a home in Richmond are slim to none.
Point 2 Did Richmond rank low in other categories?
Richmond did not rank very low in other categories concerning Gen Z homeownership.
The unemployment rate amongst Gen Z sits at just 9% in the River City.
Inventory in the city, the number of housing options available, is at 37.9, which is high and even better than some of the cities in the top 10 on the list.
Chief Economist for Virginia Realtors, Ryan Price, said older members of Gen Z, who are in their early to mid-20s, are typically just starting at the beginning of their careers.