Homebuyers get older in the Triangle
Add Axios as your preferred source to
see more of our stories on Google.
Around 10.8% of homeowners in the Raleigh metro area are under 35 years old, compared to roughly 10.7% nationally, according to the latest data from the U.S. Census Bureau.
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, going back to 1981.
By the numbers: The share of homeowners who are under 35 in the Raleigh metro area has fallen in recent years.
- In 2019, about 11.7% of homeowners in the area were under 35.
- In 2012, it was 12.5%.
The big picture: Steep housing prices and elevated mortgage rates push homeownership out of reach for many.
Zoom in: Interest rates have affected affordability in the Triangle, despite the area seeing rising incomes, Matt Fowler, executive director of Doorify MLS, wrote this summer.
- "The real problem is rates when compared to house prices and income," Fowler said. "They moved up much faster than" incomes increased and home prices decreased.
- Doorify's affordability index for the Triangle — including Wake, Durham, Orange, Chatham and Johnston — is still well below what it was at the start of the COVID-19 pandemic. It currently sits at 75 and was at 142 in March 2025. (Note: a housing affordability index of 100 would mean that the area's median household income is 100% of what's necessary to afford a median-priced home with interest, the report says.)
The intrigue: The median age of repeat home purchasers rose to 61 from 58 last year, per the NAR report.
What's next: Younger people are increasingly banking on family money for down payments, Redfin research shows.
