Most Tampa Bay homebuyers are older than 54
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About 8% of homeowners in Tampa Bay are under 35 years old, compared to 10.7% nationwide, 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.
By the numbers: People aged 55 to 64 are the largest group of homeowners in our region, at 21%, with those aged 65 to 74 as the second largest, at 20%.
The big picture: Steep housing prices and elevated mortgage rates push homeownership out of reach for many.
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.