Gen Z in the Heartland
Gen Z is all about the small-city, heartland vibes—a growing trend that bodes well for Peoria. In fact, according to the latest rental application data sourced from RentGrow, Inc., Peoria ranks among the top 20 trending Gen Z cities in the country.
Thanks to a whopping 50% increase in apartment applications submitted last year by this generation (defined as people born between 1997 and 2012), Peoria landed the 18th spot among up-and-coming Gen Z cities. “Zoomers” were the fastest-growing active renter segment in the U.S. last year, up 36 percent nationwide over 2019, while apartment applicants from every other generation declined. Millennials continue to represent the largest share of renters in the country, accounting for 48 percent of all rental applications in 2020.
Peoria’s ranking is part of a larger trend, as 17 of the top 20 cities are concentrated in the Midwest and the South—much different from the coastal cities previously favored by Millennials. Gen Z tends to prefer smaller, more affordable markets where one can get more space for the money—and Peoria certainly fits the bill. Check out the study at rentcafe.com/blog/rental-market/market-snapshots/trending-gen-z-cities.