12. Cleveland-Elyria, Ohio | Median home price: $224,970 | 5% down: $111.79 saved/mo. | 10% down: $176.78 saved/mo. | 20% down: $306.76 saved/mo.
11. Winston-Salem, North Carolina | Median home price: $224,580 | 5% down: $111.59 | 10% down: $176.47 | 20% down: $306.23
10. Pittsburgh | Median home price: $223,740 | 5% down: $111.18 | 10% down: $175.81 | 20% down: $305.09
9. Oklahoma City, Oklahoma | Median home price: $220,200 | 5% down: $109.42 | 10% down: $173.03 | 20% down: $300.26
8. Dayton, Ohio | Median home price: $209,060 | 5% down: $103.88 | 10% down: $164.28 | 20% down: $285.07

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7. Scranton-Wilkes-Barre-Hazleton, Pennsylvania | Median home price: $204,930 | 5% down: $101.83 | 10% down: $161.03 | 20% down: $279.44
6. Akron, Ohio | Median home price: $204,110 | 5% down: $101.42 | 10% down: $160.39 | 20% down: $278.32
5. Little Rock-North Little Rock-Conway, Arkansas | Median home price: $198,070 | 5% down: $98.42 | 10% down: $155.64 | 20% down: $270.08
4. Wichita, Kansas | Median home price: $195,910 | 5% down: $97.35 | 10% down: $153.94 | 20% down: $267.14
3. Toledo, Ohio | Median home price: $179,850 | 5% down: $89.37 | 10% down: $141.32 | 20% down: $245.24

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2. McAllen-Edinburg-Mission, Texas | Median home price: $140,980 | 5% down: $70.05 | 10% down: $110.78 | 20% down: $192.24
1. Youngstown-Warren-Boardman, Ohio-Pa. | Median home price: $136,960 | 5% down: $68.05 | 10% down: $107.62 | 20% down: $186.76

(Related: Top 10 Cities for Millennial Homebuyers)

Four out of five members of Generation Z want to own a home before they turn 30, realtor.com reported Thursday. To do so, they will need to save $304 every month for the next 12 years to buy a median-priced house with a 10% down payment plus closing costs.

According to realtor.com’s analysis, the median home price in the U.S. will be $386,310 in 2031— when today’s 18-year-old members of Gen Z turn 30 — an increase of 46% from the expected 2019 median price of $265,000, which assumes prices grow at a very modest 3.2% per year over the next 12 years. But the amount a future buyer needs to save varies widely based on location and how much the buyer chooses to pay up front.

Monthly Savings

Realtor.com broke down how much a Gen Zer would have to save monthly, starting on his 18th birthday, to afford a home in 2031, on his 30th birthday, in each of 100 metro areas, with a 5%, 10% or 20% down payment.

The analysis posits a savings account with a fixed 3% annual return, compounded monthly.

The calculated savings amount required includes money for a down payment and typical closing costs of about 3.6% for first-time homebuyers. Forecast median home price data come from Moody’s Analytics.

Location, Location, Location

With an average median home price of $191,381 in 2031 for the top 10 most affordable metro areas, 18-year-old members of Gen Z will need to save an average of $150 a month. That comes out to saving $798 a month less than the average monthly saving required for the top 10 most expensive metros.

San Jose-Sunnyvale-Santa Clara will have the highest median home price in 2031 at $2.5 million, which would require saving $1,962 a month for a 10% down payment. This contrasts with low-six figure home prices in the least expensive metro areas, requiring monthly savings of around $100.

According to realtor.com, putting 10% down or less is far more common among first-time and younger homebuyers, but said some members of Gen Z may want to use a 20% down payment, historically the benchmark, to qualify for a lower mortgage rate and have a much lower monthly payment — which it acknowledges might not be feasible in the most expensive metros.

Check out the gallery for the dozen most affordable metro areas in the U.S. for Gen Z homebuyers in 2031, as predicted by realtor.com.

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