• People aged 65 and older own 34.1% of US homes, according to Census data.
• As expected, areas with warmer temperatures have higher shares of older homeowners.
• Florida leads in the number of metros with a high share of homeowners aged 65 and older.
Even as millennials and Gen Z buyers get a taste of homeownership, older generations still make up a large share of property owners.
Data from the latest American Community Survey from the US Census shows that people 65 and older own 34.1% of all owner-occupied housing units in the US. The Census also found that the same group — an estimated 61.2 million people — has a homeownership rate of 78.6%.
An analysis of Census data by the National Association of Home Builders mapped out where homeowners 65 years and older own the largest share.
"Given the outsized share of homes occupied by baby boomers, the release of this housing stock will have a significant effect on housing markets," the report said. "However, the effect across regional markets will vary greatly depending on the prevalence of aging householders, migration patterns, and the severity of affordability constraints."
Florida, unsurprisingly, has the most metro areas with 65-plus-year-old homeowners, anchored by warm weather and retirement communities like The Villages.
Save for Barnstable, Massachusetts, every metro listed is in a warm area. So if you're looking to buy a home in one of these areas, prepare to live next door to someone of retirement age. Read on to see what areas are packed with older homeowners.
Population and median age were cited from Census Reporter, an independent website that uses data from the American Community Survey.
