For the first time ever, Gen Zers are matching Millennials in state-to-state migration numbers, with nearly 2.2 million Gen Zers relocating long-distance in 2023. This generational shift marks a major turning point as young professionals and early-career workers move in search of affordable housing, better job opportunities and a lifestyle that aligns with their values.
But what makes this trend even more remarkable? Many Gen Z movers are skipping the rental phase altogether and diving straight into homeownership. Over 417,000 Gen Zers (19% of those who moved states) purchased a home shortly after relocating in 2023.
Why self storage plays a key role in Gen Z’s homeownership journey
With homeownership on the rise among Gen Z, self storage is becoming a crucial resource—whether for managing the logistics of a long-distance move, temporarily storing belongings while house-hunting, or making space in a first-time home. Many young buyers are opting for smaller, more affordable homes and using storage as an extension of their living space.
Our latest survey data shows that 28% of young adults aged 18-23 are either currently renting storage or considering it, whether downsizing or seeking to optimize housing costs. This marks a notable increase from previous years, further highlighting the growing youthfulness of the self storage customer base. The trend is particularly strong in booming housing markets, where affordability and space-saving solutions go hand in hand.
Top 10 states where Gen Z is buying homes
To understand where this trend is most prominent, we analyzed homeownership rates among state-to-state movers by generation. The following 10 states have attracted the highest number of Gen Z homebuyers, offering a winning mix of affordability, career growth, and lifestyle appeal:
1. Florida
- Inbound Gen Z Homeowners: 31,000 newcomers
- % of Gen Z Homeowners from Total Gen Z Move-ins: 26%
- Average Home Price: $387,000
- Storage Market Pulse: 9.4 sq. ft. per capita, average rent at $140/month
Florida tops the list of states where inbound Gen Zers are becoming homeowners, with 31,000 young people who relocated in 2023 successfully purchasing a property within the same year. That means over a quarter of all Gen Zers who moved to Florida are buying instead of renting—a strong indicator of the state’s appeal for young professionals.
Despite home prices now sitting at $387K across the state, slightly above the national average of $357K, Florida remains a great deal for buyers relocating from more expensive states like New York and California. The state’s no-income-tax policy is another major draw, allowing young professionals to maximize their earnings and invest in homeownership sooner rather than later.
And while cities like Miami come with a high price tag, Gen Zers have plenty of affordable alternatives. Tampa, with its thriving tech and finance sectors, and Orlando, known for its strong hospitality and entertainment industries, offer better affordability while still providing a solid job market and desirable work-life balance.
2. Texas
- Inbound Gen Z Homeowners: 30,000 newcomers
- % of Gen Z Homeowners from Total Gen Z Move-ins: 20%
- Average Home Price: $300,000
- Storage Market Pulse: 11 sq. ft. per capita, average rent at $117/month
Texas’ reputation as a magnet state is extending beyond Millennials and Boomers to attract Gen Zers as well. In addition to its job-centric environment and strong lifestyle offerings, the state provides young professionals with access to a (still) favorable housing market—especially compared to other urban hotspots. In 2023, over 30,000 Zoomers who chose the Lone Star State as their new home were able to become homeowners within their first year of residence.
Cities like Austin, Dallas, Houston and San Antonio have become major hubs for industries such as technology, healthcare and energy, offering Gen Z homebuyers the financial stability needed to make a purchase shortly after relocating.
The rapid development of new housing across Texas has also played a significant role in attracting young buyers. Unlike states with stagnant or declining housing inventories, Texas continues to expand, keeping home prices relatively competitive. Fort Worth, for example, saw a whopping increase in its single-family homes inventory over the past two decades, by 57% to close to 250K units currently, while in Austin, the single-family homes stock increased by 44% during the same period and is now reaching almost 216K units. As a result, the average home in Texas is still under $300K.
3. California
- Inbound Gen Z Homeowners: 26,400 newcomers
- % of Gen Z Homeowners from Total Gen Z Move-ins: 20%
- Average Home Price: $773,000K
- Storage Market Pulse: 6.5 sq. ft. per capita, average rent at $178/month
As the most expensive housing market in the country, with the average home in the state north of $770,000, California might seem like an unlikely contender for Gen Z homeownership. Yet, in 2023, 26,400 Gen Zers—20% of those who relocated to the state—successfully purchased a home, proving that young Americans are both resourceful and determined to become homeowners, even in challenging markets.
California remains a global economic powerhouse, offering unparalleled access to technology, entertainment and finance industries. This concentration of high-paying careers attracts young professionals who see homeownership as a long-term investment, despite the state’s high real estate costs. Many Gen Zers moving to California earn higher salaries compared to those in lower-wage job markets, making it possible for them to afford homeownership where others might struggle.
While buying property in major cities like San Francisco or Los Angeles remains out of reach for many, Gen Z homebuyers have the option to turn to more affordable regions such as Sacramento, Riverside and Fresno. These areas offer a balance of lower home prices and proximity to job hubs, allowing young professionals to invest in real estate in the county’s most expensive state.
4. Georgia
- Inbound Gen Z Homeowners: 21,000 newcomers
- % of Gen Z Homeowners from Total Gen Z Move-ins: 26%
- Average Home Price: $326,000
- Storage Market Pulse: 9.7 sq. ft. per capita, average rent at $118/month
Almost 21K of the Zoomers headed to Georgia in 2023 reached homeownership status in mere months, thanks to its relatively affordable housing market and growing job opportunities. Atlanta, the state’s largest metro area, has seen significant job growth in industries such as finance, healthcare and film production, making it a hotspot for young graduates looking to build long-term careers. Unlike some larger metro areas in other states, Atlanta still offers home prices that are accessible for first-time buyers.
Beyond Atlanta, cities like Savannah, Augusta and Macon have become appealing alternatives for those who want affordability without sacrificing career prospects. These areas offer lower housing costs, strong job markets, and growing social scenes, turning Georgia into the perfect destination for young people who want urban convenience without the sky-high price tags of bigger cities.
5. North Carolina
- Inbound Gen Z Homeowners: 14,300 newcomers
- % of Gen Z Homeowners from Total Gen Z Move-ins: 16%
- Average Home Price: $327,000
- Storage Market Pulse: 10 sq. ft. per capita, average rent at $113/month
North Carolina is rapidly becoming a top destination for Gen Z homebuyers willing to relocate long distance, with 14,000 of them securing a home shortly after moving in 2023. This trend is largely supported by the state's thriving job market, particularly in the Research Triangle, where major universities and tech companies offer high-paying career opportunities in fields like biotechnology, software development and healthcare. Charlotte, another key economic hub, has also emerged as a prime location for young buyers, thanks to its booming banking and fintech industries.
Beyond job opportunities that make it easier to pay a mortgage, housing affordability plays a crucial role in attracting young homebuyers. Although home prices in North Carolina now stand at around $327K, they remain below the national average, making the state an appealing destination for Zoomers looking for a combination of economic opportunities and affordable living.
6. New York
- Inbound Gen Z Homeowners: 13,600 newcomers
- % of Gen Z Homeowners from Total Gen Z Move-ins: 12%
- Average Home Price: $480,000
- Storage Market Pulse: 3.8 sq. ft. per capita, average rent at $174/month
New York is often seen as an expensive place to live, but many Gen Z homebuyers relocating to the state are finding some affordable options. About 13,000 young Americans bought a home shortly after moving to the state in 2023. And, while very few of them probably managed to climb the property ladder in New York City, there are many other interesting options outside of the five boroughs. Upstate cities such as Buffalo, Rochester and Albany have seen an influx of young buyers who want to stay within the state but need more affordable housing. These areas offer lower home prices while still providing job opportunities in industries such as healthcare, education and tech.
For those who want proximity to NYC, suburban areas like Westchester and Long Island offer opportunities for homeownership while maintaining easy access to the city's job market.
7. Virginia
- Inbound Gen Z Homeowners: 13,300 newcomers
- % of Gen Z Homeowners from Total Gen Z Move-ins: 16%
- Average Home Price: $393,000
- Storage Market Pulse: 8 sq. ft. per capita, average rent at $139/month
Despite having home prices above the national average, Virginia ranks seventh for the number of incoming Gen Zers who successfully purchased a home shortly after moving. The state holds a strong appeal for young professionals pursuing careers in government and defense, industries that are largely concentrated in and around Washington, D.C. Given Virginia’s proximity to the capital, it makes sense that ambitious Gen Zers drawn to these fields choose to settle here. By purchasing a home in Virginia, they gain easy access to high-demand jobs while avoiding the extreme cost of living in D.C.
Beyond its strategic location, Virginia also offers vibrant and growing cities to young homebuyers. Richmond, Norfolk and Virginia Beach stand out as affordable alternatives, each boasting strong job markets, diverse cultural scenes, and relatively affordable cost of living.
8. Pennsylvania
- Inbound Gen Z Homeowners: 12,800 newcomers
- % of Gen Z Homeowners from Total Gen Z Move-ins: 15%
- Average Home Price: $266,000
- Storage Market Pulse: 5 sq. ft. per capita, average rent at $128/month
Pennsylvania is that rare gem that offers Gen Zers a combination of affordable housing and economic opportunity, and, as a result, about 12,800 young Americans among those who relocated to the state in 2023 were able to purchase a home swiftly. Home prices in the state hover significantly under the national averages while the state fosters attractive urban hotspots for young professionals.
Philadelphia and Pittsburgh remain major economic centers with industries ranging from finance to healthcare, while smaller cities like Allentown and Harrisburg provide even lower home prices with easy access to urban job markets.
9. New Jersey
- Inbound Gen Z Homeowners: 12,700 newcomers
- % of Gen Z Homeowners from Total Gen Z Move-ins: 36%
- Average Home Price: $538,000
- Storage Market Pulse: 4.3 sq. ft. per capita, average rent at $152/month
New Jersey might not be among the nation’s most affordable states in terms of housing, but it still managed to attract a significant number of Gen Z homebuyers: over 12,700. In fact, 36% of all the Gen Zers who moved to the state in 2023 purchased a home within months— the highest share in the nation.
One of the biggest drivers of Gen Z homeownership in New Jersey is its strategic location between two major economic powerhouses—New York City and Philadelphia. Many young professionals work in these cities but opt to buy homes in New Jersey, where suburban and smaller metro housing markets offer slightly more affordability and better value compared to the sky-high costs of homeownership in Manhattan or downtown Philadelphia.
Towns in Morris County, Middlesex County and South Jersey have strong school systems, are walkable and have a good mix of urban and suburban amenities, making them particularly attractive to young professionals planning for long-term stability. With strong public transportation options, Gen Z commuters can enjoy the best of both worlds—homeownership in a suburban setting while maintaining access to high-paying jobs in nearby urban centers.
10. Arizona
- Inbound Gen Z Homeowners: 12,600 newcomers
- % of Gen Z Homeowners from Total Gen Z Move-ins: 19%
- Average Home Price: $427,000
- Storage Market Pulse: 8.8 sq. ft. per capita, average rent at $122/month
While home prices in Arizona have increased by 36% over the past five years and are now well above the national average, the state continues to rank among the top states for young homebuyers, with 12,600 incoming Gen Zers buying a home here in 2023.
A major reason behind this trend is the sharp contrast in housing costs between Arizona and California, the top state of origin for new movers to Arizona. On top of that, Arizona’s lower property taxes and cost of living make homeownership more sustainable in the long term, reducing the financial burden on young buyers.
Arizona’s expanding job market is another major draw for Gen Z professionals. Phoenix has become a fast-growing hub for tech, healthcare and finance. Tucson, home to the University of Arizona, is also seeing a rise in opportunities in aerospace and biotech industries. Arizona’s trademark lifestyle further adds to its appeal for Gen Zers, offering a work-life balance with easy access to outdoor recreation, cultural amenities, and vibrant social scenes.
Where can Gen Zers easily rely on self storage? Costs and availability in Gen Z hotspots
For many Gen Z homebuyers relocating to a new state, self storage can be an invaluable tool for easing the transition. Some may find themselves staying in short-term rentals, living with family or delaying their move-in date due to renovations. In these cases, self storage offers a secure and accessible space to store furniture, clothing and other household items until they can fully settle into their new home.
A well-developed self storage sector can make the homebuying and moving process significantly easier, and in many of the states that rank high for Gen Z newcomers, homeownership offers widespread access to storage facilities. States like Texas, Florida, Georgia and North Carolina have per capita self storage inventories well above the national average, ensuring that newcomers can find affordable storage solutions with ease. The higher inventory in these regions also keeps monthly rental rates competitive, making it an accessible and cost-effective option for young homeowners in transition.
On the other hand, in urban, densely populated states such as New York, New Jersey or California, self storage availability is lower, leading to higher rental rates and increased competition for units. For Gen Z homebuyers moving to these states, securing a storage unit may require planning ahead and budgeting for higher costs compared to states with more abundant storage options.
Below, you can explore self storage costs and availability in the top states where Gen Zers newcomers are purchasing homes, offering insight into how storage solutions can help young buyers navigate their move more efficiently.
Self Storage Availability and Costs Across all U.S. States
| State | Self Storage Inventory (sq. ft. per capita) | Self Storage Street Rate |
|---|---|---|
| Florida | 9.4 | 140 |
| Texas | 11.2 | 117 |
| California | 6.5 | 178 |
| Georgia | 9.7 | 118 |
| North Carolina | 10.1 | 113 |
| New York | 3.8 | 174 |
| Virginia | 8.1 | 139 |
| Pennsylvania | 5.0 | 128 |
| New Jersey | 4.3 | 152 |
| Arizona | 8.8 | 122 |
| Illinois | 5.8 | 126 |
| Tennessee | 9.8 | 115 |
| Colorado | 8.6 | 131 |
| Ohio | 6.4 | 103 |
| Michigan | 6.2 | 118 |
| Washington | 8.4 | 155 |
| South Carolina | 10.4 | 117 |
| Minnesota | 6.6 | 121 |
| Maryland | 6.1 | 148 |
| Indiana | 8.2 | 99 |
| Utah | 10.4 | 122 |
| Missouri | 7.9 | 112 |
| Massachusetts | 4.7 | 155 |
| Wisconsin | 8.3 | 114 |
| Alabama | 11.4 | 108 |
| Kentucky | 8.1 | 109 |
| Idaho | 18.1 | 102 |
| Oregon | 8.6 | 145 |
| Oklahoma | 12.8 | 90 |
| Nevada | 11.5 | 129 |
| Connecticut | 5.5 | 141 |
| Mississippi | 12.1 | 117 |
| Arkansas | 14.9 | 97 |
| Louisiana | 11.2 | 122 |
| New Mexico | 9.7 | 114 |
| Iowa | 7.5 | 101 |
| West Virginia | 7.8 | 101 |
| Kansas | 7.3 | 113 |
| Nebraska | 8.4 | 99 |
| New Hampshire | 9.9 | 135 |
| Hawaii | 3.6 | 261 |
| Wyoming | 15.5 | 95 |
| Montana | 24.6 | 101 |
| Maine | 8.7 | 135 |
| Vermont | No data | #N/A |
| Delaware | 5.8 | 131 |
| North Dakota | No data | #N/A |
| South Dakota | 14.5 | 100 |
| Alaska | 7.3 | 196 |
| District Of Columbia | 2.2 | 161 |
| Rhode Island | 5.1 | 140 |
How Gen Z is buying homes—and what they should know
As Gen Z enters the housing market in growing numbers, their homebuying habits are shaping trends in real estate. From a strong preference for new homes to a fast-paced decision-making style, young buyers are approaching homeownership differently. But while this generation is confident and decisive, there are key factors to consider before making a purchase.
The appeal of new construction
Many Gen Z buyers prioritize newer homes, often seeking properties that are newly built or only a few years old.
"Almost all of our Gen Z buyers want new construction or homes that are just a few years old," says Brady Bell, a realtor with Bellhaven Real Estate. "If their budget doesn’t allow it, they may settle for something older, but new homes are definitely the first choice."
While newer homes can offer modern features and lower maintenance costs, they also come at a premium. Buyers who are open to older properties may find more options within their budget, especially in competitive markets.
Speed matters—but so does due diligence
Gen Z homebuyers tend to move through the purchasing process much faster than previous generations. Older buyers may spend months searching for the right home, but Gen Zers are often ready to make an offer within weeks.
"The Gen Z buyer moves through the process at a much faster pace," says Bell. "I think it’s because they’re looking for their first home, whereas older buyers are often looking for their last."
While acting quickly can be an advantage in a competitive market, experts caution against rushing into a purchase without fully considering long-term costs and responsibilities.
"Buying a home is a bigger commitment than renting," says Ryan Dossey, co-founder of SoldFast. "Between real estate commissions and closing costs, moving can cost around 10% of a home’s value. Selling too soon can be expensive, so it’s important to choose wisely."
Financing: What first-time buyers should know
A major hurdle for young buyers is establishing financial stability before purchasing a home. However, many don’t realize that a job offer letter may be enough to qualify for a mortgage.
"A lot of our relocating buyers don’t know they can buy a house with just a job offer letter," says Bell. "When we tell them, they get super excited, and many decide to purchase right away instead of signing a lease."
Another key consideration is affordability. "We advise our clients not to buy at the top of their budget," Dossey notes. "Affordability is a major concern in 2025, and being house poor—where too much income goes toward mortgage payments—can really limit financial flexibility."
Keeping monthly payments manageable allows homeowners to maintain a comfortable lifestyle and prepare for future financial needs.
The true cost of moving
Many first-time buyers focus on the price of the home but underestimate the additional costs of relocating. Expenses such as moving trucks, storage, fuel, meals, and replacing household essentials can quickly add up.
Beyond the initial costs, it’s also important to think long-term. Selling a home after only a short period can be costly due to real estate commissions and fees. Buyers should consider whether the home will meet their needs for at least the next few years.
"Before buying, ask yourself: Will I still want to live here in five years? What if my family grows? How far am I willing to commute? What are my job options nearby?" Dossey advises.
Gen Z homebuyers are making a strong entrance into the market, bringing confidence and efficiency to the process. However, taking the time to plan ahead and budget wisely can help ensure that their first home is both a good fit and a smart investment.
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While Gen Zers value affordability, they also seek job opportunities, quality of life and economic stability. Based on migration and homeownership data, they’re gravitating toward Sunbelt states and growing metros that balance cost-effectiveness and career prospects.
Here’s what Gen Z homeownership looks like among movers across all 50 states and D.C.—from the highest number of Gen Z homeowners in Florida to the fewest in Rhode Island.
Methodology
This analysis was done by StorageCafe, an online platform that provides storage unit listings across the nation.
In this report, we ranked all the US states — plus the District of Columbia — based on the net number of Gen Z newcomers from out of state that purchased a home within their first year post-move.
The migration numbers, homeownership status, and the age of the people moving across the country come from the US Census American Community Survey PUMS microdata for 2023.
The average home price per state comes from Zillow and are December 2024 values.
We used data regarding self storage rent prices and availability from Yardi Matrix, StorageCafe's sister division and a business development and asset management tool for brokers, sponsors, banks and equity sources underwriting investments in the multifamily, office, industrial and self storage sectors.
Fair use and distribution
This study serves as a resource for the general public on issues of common interest and should not be regarded as investment advice. The data is true to the best of our knowledge but may change if amendments to it are made. We agree to the distribution of this content, but we do require a mention in return for attribution purposes.
