Feb 20, 2024 - News
Mapped: Texans are buying homes later in life
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New Texas homeowners are getting older.
- The majority of Texas homeowners bought their first house by age 37, according to a recent University of California, Berkeley study.
Why it matters: For young people especially, homeownership is increasingly out of reach, Axios' Brianna Crane reports.
By the numbers: In 1980, most Texans became homeowners by age 29, per the same study.
- That age was 34 in 2000, per the study.
What's happening: Median U.S. home values have nearly doubled in the last decade. Meanwhile, household incomes have only grown by roughly 13.5% during that same period.
Zoom out: Across the U.S., first-time buyers are on average anywhere from two to 17 years older than in 1980.
Go deeper: 38% of young buyers use family money for down payments