Florida has long been a favored spot among retirees, while Texas is becoming a mecca for younger home buyers, a new study shows. LendingTree researchers looked at the average ages of homeowners and renters across the nation’s 50 largest metro areas to find more trends based on relocation and age.
Miami and Tampa, Fla., are the metros with the oldest homeowners. Pittsburgh and New York tend to have the oldest renters, the study found. In general, renters on the East Coast tend to be older.
Younger homeowners, on the other hand, are increasingly settling in Texas. The youngest average age for homeowners was between 47 and 48 in Austin, Texas, the study found. Also, St. Louis, Houston, and Dallas had young homeowners.
Take a look at the breakdown below showing where the youngest and oldest homeowners and renters have settled.
Source: “Metros With the Oldest—and Youngest—Homeowners,” LendingTree (Aug. 17, 2021)
