Oregon ranks 45th in the nation for homebuyers under age 35

Bend, ORE. (KTVZ) --- Oregon ranks 45th in the nation for the proportion of home buyers younger than age 35, according to a study published by SmartAsset.

The study found that 17% of new mortgage applications in the state over the last year were made by applicants under 35.

In total, young buyers in Oregon submitted 27,275 mortgage applications during that timeframe.

The figure comes amid a high-cost real estate market in the state, where the typical home value reached $501,661 as of April.

The study examined where young Americans are purchasing homes despite nationwide housing market challenges.

Across the country, North Dakota recorded the highest share of young home buyers, with 28.3% of all mortgage applications submitted by applicants under age 35.