Average Homeowner Age Is at Least 50 in Top Metros ☘ Hoey Team ☘ eXp Realty Florida

Dated: December 18 2019

Views: 5

Florida is a popular haven for retirees, while Denver and Austin, Texas, have emerged as millennial hot spots. LendingTree used Census data to study the average age of homeowners across the U.S. and ranked the nation’s 50 largest metros based on the average age of its homeowners, from youngest to oldest. The study also includes the home price growth and household income growth for each of the average age of homeowners.

Top 10 metro areas across the US with the highest Homeowner age

The average age of a homeowner is 55 nationwide, and there is no metro in the study where the average is less than 50, LendingTree’s researchers note. “This high average age is due in part to the numerous obstacles that younger home buyers must face, from lack of savings to poor credit,” they note.

The metros with the highest average homeowner age: Miami (58.7); Tampa, Fla. (58.3); San Diego (57.1); Los Angeles (57.1); and New York (56.9).

On the other hand, the metros with the youngest homeowners are Salt Lake City (51.8); Austin, Texas (52.4); Raleigh, N.C. (52.5); Minneapolis (53.1); and Denver (53.2).

“In general, our study suggests that as homeowners get older, home prices and incomes grow more slowly,” researchers note.

RankMetroAverage age owner-occupied housing unitsAverage age by MSAMedian household incomeMedian value of owner-occupied housing unitsHome price growth (2009-2018)Wage and salary growth (2009-2018)
1Salt Lake City51.834.7$73,730$304,50045.3%9.8%
2Austin, Texas52.436.2$76,925$329,20075.0%33.2%
3Raleigh, N.C.52.537.2$75,165$420,60040.7%28.1%
4Minneapolis53.138.2$79,578$397,50012.6%7.4%
5Denver53.237.8$79,478$238,80071.7%17.9%
6Houston53.335.7$65,394$270,60052.0%20.9%
7Dallas53.436.1$69,445$267,60065.9%20.8%
8Nashville, Tenn.53.537.7$65,919$261,90058.9%24.4%
9Indianapolis53.537.7$61,022$487,40019.6%14.3%
10Atlanta53.637.2$69,464$233,70024.0%11.3%
11Seattle53.738.3$87,910
Blog author image

Barry & Kim, Hoey Team 🍀 239RealEstateDeals.Com LLC ☘

"Your Real Estate Concierge" If you are looking for a REALTOR® or one-stop Real Estate Team who will fully communicate; promptly, professionally, and in detail with you, to efficiently help you wit....

Latest Blog Posts

🔥 Fla. Home to 7 Out of 10 Top All-Cash Sales Metros, Naples #2, Cape Coral #8 in the US 🏡 Hoey Team 🍀 239RealEstateDeals.Com LLC ☘ Southwest Florida 🌴

Nationally, cash buyers made up about 1/3 of all 2021 home sales so far, but that percentage rises to 52.6% in West Palm Beach, the top metro for cash sales in the U.S.  The ratio was 52%

Read More

📉 Mortgage Rates Fall for Fourth Week, Hitting 2.78% 🏡 Hoey Team 🍀 239RealEstateDeals.Com LLC ☘ Southwest Florida 🌴

With pandemic numbers rising again from some sources; it’s shaken investors and pushed 30-year mortgage rates lower again this week, though adjustable rates moved a little higher.MCLEAN, Va.

Read More

🚨 July 2021 📢 Just Released Market Report for Naples Area with information for all of Southwest Florida ☘ Hoey Team 🍀 239RealEstateDeals.Com LLC ☘ SW FL 🌴

Hello,Barry & Kim with the Hoey Team ðŸ€ 239RealEstateDeals.Com LLC â˜˜ hope that you and yours are doing good; wherever you are located.Hot off the press please find

Read More

🏡 Yes, Florida Homeowners Are Listing Homes for Sale 🏡 Hoey Team 🍀 239RealEstateDeals.Com LLC ☘ Southwest Florida 🌴

Florida Realtors chief economist Dr Brad O'Connor:  More homes are being listed than you think.  Despite record-low inventory levels, the reason for current buyer frustrations isn’t

Read More