Average Homeowner Age

LendingTree released data from a study they conducted about the average age of homeowners in America. They collected data from 50 of the largest metros across the country. The study asked homeowners their age and home value. They also looked at the metros population as a whole for comparison. They looked at the average age of the total population, median home-price growth, and 2009-2018 wage growth. Because certain age groups tend to flock to the same cities, the report was very diverse. For example, cities in Florida tend to have older populations gravitating there to retire. Cities such as Denver and Austin tend to attract Millennials.

WHAT DID THE REPORT FIND?

The average age of homeowners in all 50 metros was 55 years old. None of the metros had an average age below 50 years old. LendingTree believes the high average is due to all the challenges younger generations face, such as poor credit. The metros with the highest average age were Tampa and Miami. The average homeowner age was roughly 60 years old. The metros with the youngest averages were Salt Lake City, Austin, Texas, Raleigh, and Denver. These cities averaged around 53 years old.

To read the full LendingTree report and learn more click here.