Editor's Note: This story originally appeared on Construction Coverage.
Older buyers frequently have advantages when they choose to enter the housing market.
Most importantly, they tend to have greater accumulated savings or equity than many younger buyers, which makes it easier to afford a higher-priced home or secure affordable financing if needed.
These advantages can put older buyers in a good position to purchase homes, even in the type of competitive environment the market has experienced recently.
To determine the locations with the oldest homebuyers, researchers at Construction Coverage calculated the percentage of homebuyers that are aged 55 and older.
The data used in this analysis is from the Federal Financial Institutions Examination Council. Find details on our methodology at the end.
Here are the U.S. metropolitan areas with the oldest homebuyers.
15. Sacramento-Roseville-Folsom, CA
- Percentage of homebuyers age 55+: 19.7%
- Percentage of homebuyers age 65+: 7.5%
- Percentage of homebuyers age 75+: 1.7%
- Median home purchase price for homebuyers age 55+: $575,000
14. Oklahoma City, OK
- Percentage of homebuyers age 55+: 19.9%
- Percentage of homebuyers age 65+: 8.3%
- Percentage of homebuyers age 75+: 1.9%
- Median home purchase price for homebuyers age 55+: $255,000
13. Providence-Warwick, RI-MA
- Percentage of homebuyers age 55+: 20.1%
- Percentage of homebuyers age 65+: 7.1%
- Percentage of homebuyers age 75+: 1.4%
- Median home purchase price for homebuyers age 55+: $405,000
12. San Antonio-New Braunfels, TX
- Percentage of homebuyers age 55+: 20.3%
- Percentage of homebuyers age 65+: 7.6%
- Percentage of homebuyers age 75+: 1.5%
- Median home purchase price for homebuyers age 55+: $325,000
11. Urban Honolulu, HI
- Percentage of homebuyers age 55+: 20.7%
- Percentage of homebuyers age 65+: 7.4%
- Percentage of homebuyers age 75+: 1.8%
- Median home purchase price for homebuyers age 55+: $775,000
10. Tulsa, OK
- Percentage of homebuyers age 55+: 21.0%
- Percentage of homebuyers age 65+: 8.6%
- Percentage of homebuyers age 75+: 1.8%
- Median home purchase price for homebuyers age 55+: $255,000
9. Orlando-Kissimmee-Sanford, FL
- Percentage of homebuyers age 55+: 23.4%
- Percentage of homebuyers age 65+: 8.7%
- Percentage of homebuyers age 75+: 1.7%
- Median home purchase price for homebuyers age 55+: $335,000
8. Riverside-San Bernardino-Ontario, CA
- Percentage of homebuyers age 55+: 23.5%
- Percentage of homebuyers age 65+: 9.1%
- Percentage of homebuyers age 75+: 1.8%
- Median home purchase price for homebuyers age 55+: $505,000
7. Virginia Beach-Norfolk-Newport News, VA-NC
- Percentage of homebuyers age 55+: 23.7%
- Percentage of homebuyers age 65+: 9.3%
- Percentage of homebuyers age 75+: 1.9%
- Median home purchase price for homebuyers age 55+: $335,000
6. Miami-Fort Lauderdale-Pompano Beach, FL
- Percentage of homebuyers age 55+: 24.8%
- Percentage of homebuyers age 65+: 8.8%
- Percentage of homebuyers age 75+: 1.9%
- Median home purchase price for homebuyers age 55+: $385,000
5. Phoenix-Mesa-Chandler, AZ
- Percentage of homebuyers age 55+: 26.5%
- Percentage of homebuyers age 65+: 10.9%
- Percentage of homebuyers age 75+: 2.3%
- Median home purchase price for homebuyers age 55+: $415,000
4. Jacksonville, FL
- Percentage of homebuyers age 55+: 27.4%
- Percentage of homebuyers age 65+: 11.2%
- Percentage of homebuyers age 75+: 2.1%
- Median home purchase price for homebuyers age 55+: $355,000
3. Tampa-St. Petersburg-Clearwater, FL
- Percentage of homebuyers age 55+: 28.0%
- Percentage of homebuyers age 65+: 11.0%
- Percentage of homebuyers age 75+: 2.2%
- Median home purchase price for homebuyers age 55+: $305,000
2. Las Vegas-Henderson-Paradise, NV
- Percentage of homebuyers age 55+: 28.7%
- Percentage of homebuyers age 65+: 12.0%
- Percentage of homebuyers age 75+: 2.5%
- Median home purchase price for homebuyers age 55+: $405,000
1. Tucson, AZ
- Percentage of homebuyers age 55+: 34.5%
- Percentage of homebuyers age 65+: 17.3%
- Percentage of homebuyers age 75+: 3.7%
- Median home purchase price for homebuyers age 55+: $325,000
Methodology
The data used in this analysis is from the Federal Financial Institutions Examination Council’s 2021 Home Mortgage Disclosure Act.
To determine the locations with the oldest homebuyers, researchers at Construction Coverage calculated the percentage of homebuyers that are aged 55 and older.
The researchers also calculated the percentage of homebuyers that are aged 65 and older, as well as 75 and older. In the event of a tie, the location with the greater percentage of homebuyers age 65 and older was ranked higher.
For the purpose of this analysis, only conventional residential mortgages originated in 2021 were considered. To improve relevance, only metropolitan areas with at least 100,000 residents were included.
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