Jan 4, 2024 - News

Arkansas homeowners' ages are rising

Age when the majority of residents are homeowners, 2021
Adapted from a Terner Center report; Map: Axios Visuals

Most Arkansans become a homeowner by age 36, according to a recent study by the University of California, Berkeley.

Why it matters: For young people especially, homeownership is increasingly out of reach.

By the numbers: In 1980, most Arkansans became homeowners by age 27. In 2000, it was 31, per the study.

What's happening: Median U.S. home values have nearly doubled in the last decade while household incomes have only grown by roughly 13.5%.

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 most people don't own a home until 49, 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, compared to 36 in 2000.

The intrigue: Homeownership is still widely cited as a pillar of the American dream.

  • Yes, but: There's a growing share of renters who value being untethered to ownership.

Go deeper: "Nepo-homebuyers": 38% of young buyers use family money for down payments

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