Metros With Oldest — and Youngest — Homeowners

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Where you choose to live often reflects your age and stage of life. Older homeowners may gravitate toward warmer climates and areas with strong health care and social services, while younger buyers often seek out more affordable metros where their budgets stretch further.

This LendingTree study analyzes the average age of homeowners and renters across the 50 largest U.S. metros to determine how age influences housing trends. The findings show that the average homeowner is nearly 51 years old, while renters skew younger, with an average age just under 45. The study also highlights which metros are most popular with older and younger homeowners.

Key findings

The average age of homeowners across the 50 largest metros is between 50 and 51 years old. Across the 50 metros, average ages range from 48.09 to 54.60.
The metros with the oldest homeowners are mainly in California or Florida. Among the 10 with the oldest homeowners, eight are in either state. Los Angeles (54.60), San Diego (53.63) and Miami (53.38) have the oldest homeowners.
Salt Lake City has the youngest homeowners. Homeowners in the Utah metro average 48.09 years old — the lowest among the 50. Austin, Texas (48.75), and Oklahoma City (48.79) are the next closest.
Renters are slightly younger than homeowners. The average age of renters across the largest metros is almost 45 years old — six years younger than homeowners and about five-and-a-half years older than the general population.
East Coast metros typically see older renters. Among the 10 metros with the oldest renters, seven are on the East Coast. Meanwhile, the 10 metros with the youngest renters are mainly in the South.

50-metro figures

Average homeowner age: 50.75
Average renter age: 44.72
Average age of general population: 39.10
Median monthly housing costs (with mortgage): $2,229
Median monthly gross rent payment: $1,515

Metros with oldest homeowners

1. Los Angeles

Average homeowner age: 54.60
Average renter age: 46.71
Average age of general population: 39.49
Median monthly housing costs (with mortgage): $3,176
Median monthly gross rent payment: $1,970

2. San Diego

Average homeowner age: 53.63
Average renter age: 43.80
Average age of general population: 38.95
Median monthly housing costs (with mortgage): $3,211
Median monthly gross rent payment: $2,243

3. Miami

Average homeowner age: 53.38
Average renter age: 47.81
Average age of general population: 41.70
Median monthly housing costs (with mortgage): $2,550
Median monthly gross rent payment: $1,890

The metros with the oldest homeowners are Los Angeles, CA; San Diego, CA; and Miami, FL.

Metros with youngest homeowners

1. Salt Lake City

Average homeowner age: 48.09
Average renter age: 39.99
Average age of general population: 35.55
Median monthly housing costs (with mortgage): $2,190
Median monthly gross rent payment: $1,590

2. Austin, Texas

Average homeowner age: 48.75
Average renter age: 39.51
Average age of general population: 37.18
Median monthly housing costs (with mortgage): $2,471
Median monthly gross rent payment: $1,721

3. Oklahoma City

Average homeowner age: 48.79
Average renter age: 42.75
Average age of general population: 37.22
Median monthly housing costs (with mortgage): $1,766
Median monthly gross rent payment: $1,110

The metros with the youngest homeowners are Salt Lake City, UT; Austin, TX; and Oklahoma City, OK.

Metros with oldest and youngest homeowners

Rank	Metro	Avg. homeowner age	Avg. renter age	Avg. age of general population	Median monthly housing costs (with mortgage)	Median monthly gross rent payment
1	Los Angeles, CA	54.60	46.71	39.49	$3,176	$1,970
2	San Diego, CA	53.63	43.80	38.95	$3,211	$2,243
3	Miami, FL	53.38	47.81	41.70	$2,550	$1,890
4	San Francisco, CA	53.30	46.45	40.89	$3,958	$2,341
5	Las Vegas, NV	53.09	45.66	39.12	$1,999	$1,620
6	San Jose, CA	52.81	44.00	39.21	$4,175	$2,770
7	Riverside, CA	52.68	46.10	37.19	$2,475	$1,819
8	Sacramento, CA	52.63	46.00	39.26	$2,717	$1,793
9	Tampa, FL	52.50	45.70	42.05	$2,033	$1,694
10	New York, NY	52.11	48.96	40.20	$3,261	$1,700
11	Phoenix, AZ	51.96	43.58	38.98	$1,942	$1,720
12	Memphis, TN	51.82	44.33	37.63	$1,692	$1,210
13	Boston, MA	51.61	46.65	40.61	$3,030	$1,970
14	Washington, DC	51.58	44.15	38.55	$2,780	$1,922
15	Cleveland, OH	51.45	46.57	41.32	$1,642	$1,013
16	Providence, RI	51.43	48.20	41.33	$2,377	$1,300
17	Orlando, FL	51.39	42.96	39.21	$2,030	$1,780
18	Richmond, VA	51.22	44.11	39.72	$1,903	$1,486
19	New Orleans, LA	51.15	47.26	40.23	$1,950	$1,130
20	Chicago, IL	51.03	45.22	39.39	$2,218	$1,370
21	Baltimore, MD	50.90	46.64	39.72	$2,250	$1,522
22	Virginia Beach, VA	50.87	44.43	38.84	$2,028	$1,480
23	Atlanta, GA	50.83	43.92	37.79	$2,018	$1,680
24	Jacksonville, FL	50.72	44.45	39.51	$1,950	$1,520
25	Detroit, MI	50.66	47.43	40.28	$1,757	$1,150
26	Portland, OR	50.47	44.61	39.76	$2,447	$1,630
27	Birmingham, AL	50.40	43.49	39.31	$1,615	$1,080
28	Charlotte, NC	50.37	43.53	38.42	$1,760	$1,473
29	Philadelphia, PA	50.31	46.54	40.05	$2,219	$1,440
30	St. Louis, MO	50.04	45.17	40.44	$1,700	$1,034
31	Milwaukee, WI	49.87	45.62	39.51	$1,900	$1,090
32	Tulsa, OK	49.82	44.99	38.50	$1,600	$1,010
33	Cincinnati, OH	49.76	45.52	38.90	$1,753	$1,057
34	Denver, CO	49.75	42.13	38.37	$2,611	$1,900
35	Seattle, WA	49.70	42.89	38.61	$2,950	$1,950
36	Pittsburgh, PA	49.69	46.80	42.69	$1,691	$1,010
37	Buffalo, NY	49.67	47.63	41.42	$1,742	$1,020
38	San Antonio, TX	49.54	42.78	37.06	$1,965	$1,320
39	Indianapolis, IN	49.47	43.91	37.83	$1,658	$1,188
40	Raleigh, NC	49.45	42.98	37.98	$2,038	$1,583
41	Kansas City, MO	49.43	44.87	38.57	$1,908	$1,220
42	Columbus, OH	49.42	43.42	37.68	$1,955	$1,230
43	Dallas, TX	49.24	42.36	36.40	$2,420	$1,609
44	Louisville, KY	49.16	44.77	39.57	$1,627	$1,062
45	Minneapolis, MN	49.13	44.61	38.66	$2,132	$1,412
46	Houston, TX	48.93	42.62	36.17	$2,253	$1,420
47	Nashville, TN	48.89	41.19	38.00	$1,947	$1,505
48	Oklahoma City, OK	48.79	42.75	37.22	$1,766	$1,110
49	Austin, TX	48.75	39.51	37.18	$2,471	$1,721
50	Salt Lake City, UT	48.09	39.99	35.55	$2,190	$1,590

Source: LendingTree analysis of U.S. Census Bureau 2023 American Community Survey microdata with one-year estimates via IPUMS.

Why different metros attract people of different ages

“Whether you’re young or old, many of the reasons for gravitating to a particular metro remain the same,” says Matt Schulz, LendingTree chief consumer finance analyst and author of “Ask Questions, Save Money, Make More: How to Take Control of Your Financial Life.”

Whether you’re young or old, many of the reasons for gravitating to a particular metro remain the same.

Matt Schulz

LendingTree chief consumer finance analyst

“Things like a booming job market, an affordable cost of living, robust entertainment options, low crime rates, easy access to education and temperate weather are going to make a metro appealing to just about anyone.”

However, a homebuyer’s age and stage in life can influence which of these factors they prioritize.

Younger vs. older

“For younger homeowners, affordability and job opportunities may be even more important than they are for older homeowners. They’re not yet in their prime earning years, probably don’t have amazing credit and could still be struggling with student loan debt, among other debts,” Schulz says.

“Meanwhile, health care options may be more important for older Americans. Giant metros may have more access to the types of specialists and health care services older Americans may need.”

Additionally, quality of life, social connections and personal preference can become increasingly important with age. “Looking at the metros with the oldest homeowners, it’s clear that many value sunshine and staying away from cold winters,” Schulz says.

Hotspots for younger and older homeowners

Over the past five years, the youngest homebuyers — Gen Zers (born between 1999 and 2004) and millennials (born between 1980 and 1998) — have leaned toward the Midwest, according to the National Association of Realtors, making the region a hotspot for young homeowners.

Three of the 10 metros in our study with the youngest homeowners are in the Midwest, where lower living costs, better home affordability and the availability of starter homes help younger buyers achieve homeownership earlier.

In contrast, eight of the 10 metros with the oldest homeowners are in just two states: California and Florida. California’s notoriously expensive markets tend to attract older, more financially established buyers, while Florida’s large senior population contributes to a higher average homeowner age. Tampa and Miami, both in the top 10 for the oldest homeowners, have the second- and third-oldest general populations among the 50 metros in our study.

6 tips for older/younger homebuyers

“Age plays a huge role in someone’s homebuying journey, simply because the stage of life that you’re in goes a long way toward determining what you need and what is available to you,” Schulz says. “The right home is all about what fits your family’s current needs and future goals the best.”

These tips can help you navigate the homebuying process — whether you’re a younger buyer searching for your first home or an older homeowner looking to downsize.

Older homebuyers

Compare mortgage offers. Older homebuyers often have more wealth and stronger credit scores than younger borrowers, which can help them qualify for better rates and loan terms. Still, the first mortgage offer isn’t always the best one. By shopping around with multiple lenders, you can improve your chances of securing a lower interest rate — and reduce your monthly mortgage payments.
Explore various loan options. While a traditional 30-year fixed-rate mortgage is one option, other loan programs may be a better fit for older buyers. For example, those nearing retirement may qualify for a retirement mortgage, which can help them bypass the income requirements associated with conventional loans.
Avoid depleting your savings. Buying a home outright or making a sizeable down payment can lower long-term costs, but it’s not always the smartest move — especially if you’re drawing from substantial savings to do so. Even if you can afford to pay in full, keeping cash in reserve for emergencies and unexpected expenses is crucial. In many cases, financing part of the purchase can offer more financial flexibility.

Younger homebuyers

Know your priorities. Before you begin your home search, be clear on your needs, wants, negotiables and nonnegotiables. “There’s no one-size-fits-all answer when it comes to finding the right house for you, so it’s vital to ask yourself some key questions,” Schulz says. For example: How long do you plan to stay in the house? Do you expect your family to grow? Are you open to buying a fixer-upper? How much of a commute are you comfortable with? How important is the school system? Exploring questions like these can help you find the home and location that best fit your lifestyle.
Be flexible. “Housing costs and options can vary widely, even within a relatively small area,” Schulz says. “Being open to considering other parts of town, for example, can save you real money.” While that doesn’t mean backtracking on deal-breakers, Schulz goes on, “if you’re too close-minded in your home search, you may do yourself a disservice.”
Get preapproved. Getting preapproved early in the homebuying process gives you a realistic understanding of how much home you can afford and helps avoid disappointment. It also allows you to compare lenders and loan offers — one of the best ways to maximize your homebuying budget. “Taking the time to compare mortgage rates from different lenders can save you tens of thousands of dollars over the life of your mortgage,” Schulz says. “It’s a big deal.”

Methodology

LendingTree researchers analyzed U.S. Census Bureau data across the nation’s 50 largest metros to determine which are home to the oldest and youngest homeowners and renters. We also explored the average age of the general population across the same metros, as well as median monthly housing costs with a mortgage and median monthly gross rent payments.

Homeowners were defined as heads of households who live in owner-occupied units with a mortgage. Renters were defined as heads of households who live in renter-occupied units.

Data is via Census Bureau 2023 American Community Survey microdata with one-year estimates — the latest available — as derived from the Integrated Public Use Microdata Series (IPUMS).

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Key findings
Metros with oldest homeowners
Metros with youngest homeowners
Why different metros attract people of different ages
6 tips for older/younger homebuyers
Methodology