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News Every Day |

Baby boomers own a third of America's homes. Here are the 15 metro areas they dominate.

A residential neighborhood and golf course in Florida.
  • People aged 65 and older own 34.1% of US homes, according to Census data.
  • As expected, areas with warmer temperatures have higher shares of older homeowners.
  • Florida leads in the number of metros with a high share of homeowners aged 65 and older.

Even as millennials and Gen Z buyers get a taste of homeownership, older generations still make up a large share of property owners.

Data from the latest American Community Survey from the US Census shows that people 65 and older own 34.1% of all owner-occupied housing units in the US. The Census also found that the same group — an estimated 61.2 million people — has a homeownership rate of 78.6%.

An analysis of Census data by the National Association of Home Builders mapped out where homeowners 65 years and older own the largest share.

"Given the outsized share of homes occupied by baby boomers, the release of this housing stock will have a significant effect on housing markets," the report said. "However, the effect across regional markets will vary greatly depending on the prevalence of aging householders, migration patterns, and the severity of affordability constraints."

Florida, unsurprisingly, has the most metro areas with 65-plus-year-old homeowners, anchored by warm weather and retirement communities like The Villages.

Save for Barnstable, Massachusetts, every metro listed is in a warm area. So if you're looking to buy a home in one of these areas, prepare to live next door to someone of retirement age. Read on to see what areas are packed with older homeowners.

Population and median age were cited from Census Reporter, an independent website that uses data from the American Community Survey.

15. Sierra Vista-Douglas, AZ metro area
Douglas, Arizona.

Share of households 65 and older: 41.0%

Population: 125,773

Median age: 42.8

14. Port St. Lucie, FL metro area
Port St. Lucie, Florida.

Share of households 65 and older: 41.0%

Population: 556,336

Median age: 47.4

13. Cape Coral-Fort Myers, FL metro area
Fort Myers, Florida.

Share of households 65 and older: 41.9%

Population: 860,959

Median age: 48.4

12. Santa Fe, NM metro area
Santa Fe, New Mexico.

Share of households 65 and older: 42.7%

Population: 157,765

Median age: 49.3

11. Ocala, FL metro area
Ocala, Florida.

Share of households 65 and older: 44.6%

Population: 428,905

Median age: 47.3

10. North Port-Bradenton-Sarasota, FL metro area
Sarasota, Florida.

Share of households 65 and older: 46.1%

Population: 934,956

Median age: 53.7

9. Lake Havasu City-Kingman, AZ metro area
Lake Havasu, Arizona.

Share of households 65 and older: 46.3%

Population: 226,479

Median age: 54.2

8. Sebring, FL metro area
Sebring, Florida.

Share of households 65 and older: 46.6%

Population: 109,778

Median age: 54.2

7. Prescott Valley-Prescott, AZ metro area
Prescott Valley, Arizona.

Share of households 65 and older: 48.0%

Population: 252,013

Median age: 55.3

6. Barnstable Town, MA metro area

Share of households 65 and older: 48.4%

Population: 232,570

Median age: 56.1

5. Naples-Marco Island, FL metro area
Naples, Florida.

Share of households 65 and older: 49.0%

Population: 416,233

Median age: 53.6

4. Sebastian-Vero Beach-West Vero Corridor, FL metro area
Vero Beach, Florida.

Share of households 65 and older: 50.9%

Population: 172,139

Median age: 55.6

3. Punta Gorda, FL metro area
Punta Gorda, Florida.

Share of households 65 and older: 52.5%

Population: 20,278

Median age: 66.3

2. Homosassa Springs, FL metro area
Homosassa Springs, Florida.

Share of households 65 and older: 52.7%

Population: 170,174

Median age: 57

1. Wildwood-The Villages, FL metro area
The Villages, Florida.

Share of households 65 and older: 68.2%

Population: 154,693

Median age: 68

Read the original article on Business Insider
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