LendingTree, the online financial information and services website, just released its study on the average age of homeowners across the US. LendingTree informed its conclusions by using data from the US Census Bureau’s American Community Survey to rank average homeowner ages in relationship to the country’s 100 largest metro areas.
The bottom line is that the average age of homeowners across 100 of our largest metro areas is 54 years old. That said, the average age of homeowners varies by location.
“It’s no secret that young and old people gravitate towards different parts of the country, said Tenday Kapfidze, Lending Tree’s chief economist. “Florida is a well known haven for retirees while places such as San Francisco and Austin have emerged as millennial boomtowns over the past few years.”
Florida, in fact, has 7 out of 10 areas with the highest average homeowner age. It also has older homeowners than in most other states. Check out the metro areas with the oldest homeowners:
- North Point – 63.3 years old
- Cape Coral – 61.5 years old
- Deltona – 60.2 years old
- Palm Bay – 59.5 years old
- Lakeland – 58.5 years old
- Honolulu – 58.1 years old
- Tampa – 57.6 years old
- Miami – 57.4 years old
- Tucson – 56.7 years old
- Scranton – 56.4 years old
The average homeowner age in New York City and Los Angeles is 55.7 years old.
Here is a list of the metro areas with the youngest homeowners:
- Provo – 47.3 years old
- Ogden – 49.4 years old
- Salt Lake City – 50.1 years old
- Des Moines – 50.4 years old
- Austin – 50.6 years old
- Raleigh – 50.6 years old
- Omaha – 51.2 years old
- Minneapolis – 51.2 years old
- McAllen – 51.3 years old
- Houston & Denver – 51.5 years old
Clearly, the state of Utah has some of the youngest homeowners in the country.