Jan 2, 2024 - News

The age to own a home in Florida is rising

Adapted from a Terner Center report; Map: Axios Visuals

The majority of Floridians become homeowners by age 42, according to a recent study, Axios' Megan Rose Dickey and Brianna Crane report.

Why it matters: Homeownership is becoming increasingly out of reach, especially for young people.

By the numbers: In 1980, most Floridians became homeowners by age 30. In 2000, it was age 34, per the study by the University of California, Berkeley.

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., buyers are anywhere from two to 17 years older than in 1980.

  • Homeownership is most delayed in California, where the majority of people don't own a home until 49 years old, per the study.
  • Iowa has the youngest buyers (29) and experienced the least change from 1980 (two years).
  • Alaska is the only state where homeowners are getting younger. The majority of Alaskans owned a home by 35 in 2021, down from 36 in 2000.
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