Boomers and Silent Generations own 34 percent of all U.S. home values, but their control is strongest in a small number of metros.
More than three-quarters of Americans age 65 and older own a home, and that generation has more control than ever over the housing market.
Participate in the INMAN Intel Index Survey
The 61.2 million Americans age 65 and older have a homeownership rate of 78.6 percent, according to an analysis of census data by the National Association of Home Builders. That’s a lock of supply that young buyers are still waiting to take over.
How concentrated is senior housing ownership in your country? Search the 383 U.S. metropolitan areas below to see the percentage of households headed by someone age 65 or older and how your market is structured nationally. Next, read more about the elderly-dominated market.
.
Baby boomers and the silent generation are 18 percent of the U.S. population, but they own 34.1 percent of the total housing value, or about 29.6 million homes, worth $13.8 trillion.
This focus means that their decision to retire is not just a personal one. In these housing-dominated markets, whether homes are downsized, older, or moved to warmer climates, this will have a ripple effect on housing supply for years to come.
But where do all these older Americans own the most homes?Florida’s top retirement destinations are nearly all occupied, which isn’t all that surprising.
Wildwood-The Villages, Fla., leads all metros in the country with 68.2%. This means that at least two out of three households are headed by a householder aged 65 or older. This is followed by Homosassa Springs, Punta Gorda, Sebastian Vero Beach, and Naples-Marco Island, all in Florida, with concentrations between 49 and 52.7 percent. The rest of the top 15 is spread across Arizona (three metros), New Mexico, and Massachusetts. It’s the Sunbelt Retirement Corridor, with one outlier in coastal New England.
Email Nick Pipitone
