Dec 19, 2023 - News
Mapped: California's homeowners' age is rising
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The majority of Californians become a homeowner by age 49, according to a recent University of California, Berkeley study.
Why it matters: For young people especially, homeownership is increasingly out of reach and homeownership is most delayed in California, per the study.
By the numbers: In 1980, most Californians became homeowners by age 32. In 2000 it was 40, 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: 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.