LendingTree Compares Average Homeowner Age Across 100 Largest U.S. Metropolitan Areas
by Tendayi Kapfidze LendingTree, November 16th, 2018
New LendingTree report ranks metropolitan areas by the average age of homeowners.
It’s no secret that young and old people gravitate toward different parts of the country. Florida is a well-known haven for retirees, while places such as San Francisco and Austin, Texas, have emerged as millennial boomtowns over the past few years. As a result, the average age of a homeowner varies by location.
LendingTree, the nation’s leading online loan marketplace, set out to find which metro areas have the oldest homeowners. Using data from the U.S. Census Bureau’s American Community Survey, we ranked the 100 largest metropolitan areas by average homeowner age. While some of the rankings aren’t surprising (Florida metros dominate the “old” end of the list), cities popular among millennials aren’t necessarily gaining young homeowners.
The average age of a homeowner across the 100 largest metropolitan areas in the United States is 54. Only two metros in our analysis — Provo and Ogden, Utah — have an average homeowner age below 50.
Homeowners in Florida are older than homeowners in most other states. Seven out of the top 10 metropolitan areas with the highest average homeowner age were in Florida.
Homeowners in cities in Utah are among the youngest in the country. Out of the top 10 metropolitan areas with the lowest average age for homeowners, metropolitan areas in Utah — Provo, Ogden and Salt Lake City — held the top three spots.
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