What makes the headlines is the homeownership rate. Is it up? Is it down? Has it recovered? However, perhaps the more important question is: Who is behind that rate?
In 2010, the national homeownership rate was 65.4%. In 2024, it’s essentially the same at 65.3%. But behind that number, something important has changed.
Homeowners got older, and they aged faster than all households overall. In 2010, the median age of homeowners was just over 54. By 2024, it had increased to about 57.5. During the same period, the median age of all households also increased, but not as much. Homeowners are 3.4 years older than in 2010, while the median age of all households rose by 2.6 years. So yes, while the country is aging, homeowners are aging even faster. And they were already older to begin with.
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