Which Housing Markets Attract the Oldest and Youngest Buyers?
Where someone chooses to live often reflects the stage of life they're in, considering factors such as housing affordability, lifestyle, and climate, among others. A recent study from online lending marketplace LendingTree shows older homeowners—who typically have larger budgets than younger buyers—are choosing to purchases homes in areas that suit their lifestyle, while younger buyers are heading to areas where they can stretch their dollar a bit further.
Older homebuyers gravitate toward California and Florida
The metros with the oldest homeowners are mainly in California or Florida, both of which offer warmer climates and outdoor recreation opportunities. Among the top 10 metros with the oldest homeowners, eight are in those two states. Los Angeles has the oldest average homeowner age at 54.6, followed by San Diego with 53.6 years of age, and then Miami at 53.4 years old.
Young homebuyers look for more affordable metros to settle down
Meanwhile, Salt Lake City has the youngest homeowners, averaging 48.1 years old, followed by Austin, Tex., where the average age is 48.7, and Oklahoma City at 48.8 years old.
Age continues to drive buyer preferences, but with the average homeowner age now reaching 50, that gap is closing
- First-Time Homebuyers Continue to Age Up: In 2024, the average age of the first-time homebuyer grew to 38 years old.
- Baby Boomers Now Make Up the Largest Share of Homebuyers: While the share of Millennial homeowners is down, the number of Baby Boomer homeowners is only growing. In fact, Baby Boomers make up 42% of all homeowners in the U.S.
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