Atlanta homeowners skew older, census data shows
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More than 40% of homeowners in Atlanta are between the ages of 45 and 64, according to the latest U.S. Census Bureau data.
Why it matters: Steep housing prices and elevated mortgage rates push homeownership out of reach for many, particularly younger adults.
By the numbers: Two age groups — 45 to 54 and 55 to 64 — each make up 22% of homeowners in metro Atlanta.
- People under age 35 make up only about 11% of homeowners in Atlanta.
The big picture: U.S. homebuyers are now the oldest on record, with the median age of first-timers reaching 38, a recent report from the National Association of Realtors found.
- That's up from 35 last year and marks a new high in NAR data from 1981.
The intrigue: The median age of repeat home purchasers rose to 61 from 58 last year, per the NAR report.
What we're watching: A Redfin report released last year found that younger people in Atlanta and around the country could not afford to buy homes without major budget changes or help from family.
Go deeper: Atlanta empty-nesters are not giving up their larger homes