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Data: U.S. Census Bureau; Chart: Axios Visuals

7% of Miami homeowners are under 35 years old, lower than the roughly 11% national average, according to the latest census data.

Why it matters: U.S. homebuyers are now the oldest on record, with the median age of first-timers reaching 38, per a recent report from the National Association of Realtors.

That's up from 35 last year and marks a new high in NAR data from 1981.

Reality check: Miami continues to face a housing and affordability crisis, leading the city and the school district to consider workforce housing. 

And in 2022, 23% of Miami's millennials lived with their parents, outpacing the national average of 15.8%

Case in point: Homeowners ages 55 to 64 years make up the largest share of homeowners in Miami, with 22.3%, data show, with the next largest share belonging to homeowners between 65 and 74 years.

Editor's note: This story has been corrected to reflect that 7% (not 14%) of Miami homeowners are under 35, that 22.3% (not 19.6%) of homeowners are ages 55 to 64, and that the second-largest share belongs to those ages 65 to 74.

Largest share of Miami homeowners are over 55

The share of homeowners under 35 nationally is roughly 11%.

Illustration of smoke in the shape of a percent sign billowing from a house's chimney.

7% of Miami homeowners are under 35 years old, lower than the roughly 11% national average, according to the latest census data.Why it matters: U.S. <a class="gtmContentClick" data-vars-link-text="homebuyers" data-vars-click-url="https://www.axios.com/2024/11/04/home-buyer-age-older" data-vars-content-id="c5855fc6-7b2a-4400-82b3-95f96ba1249b" data-vars-headline="Largest share of Miami homeowners are over 55" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2024/11/04/home-buyer-age-older" target="_self">homebuyers</a> are now the oldest on record, with the median age of first-timers reaching 38, per a recent <a class="gtmContentClick" data-vars-link-text="report" data-vars-click-url="https://www.nar.realtor/research-and-statistics/research-reports/highlights-from-the-profile-of-home-buyers-and-sellers" data-vars-content-id="c5855fc6-7b2a-4400-82b3-95f96ba1249b" data-vars-headline="Largest share of Miami homeowners are over 55" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.nar.realtor/research-and-statistics/research-reports/highlights-from-the-profile-of-home-buyers-and-sellers" target="_blank">report</a> from the National Association of Realtors.

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A bar chart showing the share of homeowners by age group in the Miami area in 2023. Homeowners 55 to 64 years old made up the largest share at 19.6%.

Share of homeowners by age in Miami, 2023

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