Older Homebuyers Are Gravitating Toward These Popular Metros

The face of homeownership in America is getting older. The average homeowner across the country’s 50 largest metropolitan areas is about 51 years old, according to a new LendingTree study. That figure highlights a generational shift, as affordability pressures continue to push the dream of buying a first home later into life for many Americans.

LendingTree analyzed 2023 U.S. Census Bureau data for the 50 largest metros to compare homeowner and renter ages, population averages, and housing costs.

The research shows that the average homeowner ages range from 48.09 to 54.60 years across major metros, with Los Angeles topping the list at 54.60, followed closely by San Diego at 53.63, and Miami at 53.38. It’s been revealed that 8 of the 10 metros with the oldest homeowners are concentrated in either California or Florida.

Older homeowners might gravitate toward warmer climates and areas with strong health care and social services, according to the study.

Overall, the typical homeowner in these metros pays a median of $2,229 per month on housing costs with a mortgage, underscoring the financial weight that comes with owning a home—particularly in places like Los Angeles, where high prices and long tenures keep the market older.

1. Los Angeles, CA

• Average homeowner age: 54.60
• Median monthly housing costs (with mortgage): $3,176

Home prices climbed in nearly every one of America’s top-dollar housing markets—but 10 cities stood out for having the nation’s highest median sales prices.

And 8 of these 10 metros were clustered in California, confirming the Golden State’s reign as a desirable housing hot spot, according to the latest quarterly report from the National Association of Realtors®.

2. San Diego, CA

• Average homeowner age: 53.63
• Median monthly housing costs (with mortgage): $3,211

San Diego’s median home price is climbing to $1.04 million, up 5.7% from a year ago, according to the National Association of Realtors.

3. Miami, FL

• Average homeowner age: 53.38
• Median monthly housing costs (with mortgage): $2,550

4. San Francisco, CA

• Average homeowner age: 53.30
• Median monthly housing costs (with mortgage): $2,550

5. Las Vegas, NV

• Average homeowner age: 53.09
• Median monthly housing costs (with mortgage): $1,999

6. San Jose, CA

• Average homeowner age: 52.81
• Median monthly housing costs (with mortgage): $4,175

In May 2025, San Jose recorded the highest median sales price for a single-family home in the nation, climbing to $2.02 million—a 9.8% increase from the previous year, according to the National Association of Realtors.

7. Riverside, CA

• Average homeowner age: 52.68
• Median monthly housing costs (with mortgage): $2,475

8. Sacramento, CA

• Average homeowner age: 52.63
• Median monthly housing costs (with mortgage): $2,717

9. Tampa, FL

• Average homeowner age: 52.50
• Median monthly housing costs (with mortgage): $2,033

10. New York, NY

• Average homeowner age: 52.11
• Median monthly housing costs (with mortgage): $3,261

Older homeowners should consider

“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,” says Matt Schulz, LendingTree chief consumer finance analyst. “The right home is all about what fits your family’s current needs and future goals the best.”

For older homebuyers, strong credit histories and greater accumulated wealth can work to your advantage, as stated in the study. Many in this group qualify for better interest rates and loan terms than younger borrowers, but that doesn’t mean the first mortgage offer will be the best one.

By requesting quotes from multiple lenders and carefully comparing them, you increase the chances of locking in a lower interest rate. Even a small reduction can add up to significant savings over the life of a loan while also reducing monthly payments.

Loan structure is another factor to consider. The familiar 30-year fixed-rate mortgage may suit some, but it isn’t the only option. Depending on your financial situation, a shorter loan term or a specialized product, such as a retirement mortgage, might align better with long-term plans. Exploring different programs can provide greater flexibility and make qualifying easier, especially for buyers approaching retirement.

It’s also important to think carefully about how much cash to put down. Making a large down payment or buying a home outright can lower overall borrowing costs, but it can also drain savings that might be needed later for emergencies or living expenses. Even if you can afford to pay in full, financing part of the purchase can preserve liquidity and create a safety net, offering peace of mind well into retirement.