As of late 2025, the median age of a first-time homebuyer in the U.S. has reached an all-time high of 40 years old, while the median age for all homebuyers (including repeat buyers) has soared to 59 years old. This shift is driven by high interest rates, limited inventory, and soaring home prices, making it difficult for younger buyers to enter the market.
Life milestones happening later across generations
Among today's 30-year-olds: 70% live independently (down from 83% in 1984). 48% have been married (down from 78% in 1984). 33% own a home (down from 47% in 1984).
Key Takeaways. The average first-time homebuyer is now 40 years old, up from 38 in 2024 and 35 in 2023.
According to ResiClub's analysis of the U.S. Census Bureau's new annual data, 40.3% of U.S. owner-occupied housing units are now mortgage-free, marking a new high for this data series. That's up from 39.8% in 2023. The portion of homeowners with no mortgage has ticked up almost every year since 2010—when it was 32.8%.
Buying a house in your 30s can be a strategic step toward long-term financial security and establishing roots. This phase of life often brings increased career stability and financial growth, making it an ideal time to invest in homeownership.
While baby boomers—defined as Americans between the ages of 60 and 78 in 2024—comprise just over 20% of the U.S. population, they account for more than 37% of homeowners nationwide.
According to a new analysis from ResiClub based on US Census Bureau data, 40.3% of owner-occupied homes in the country were mortgage-free in 2024, marking a record high and a modest uptick from 39.8% the year prior.
Half (48%) of over 55s have 'some sort' of debt in the decade before retirement, more than one in ten (11%) still have a mortgage.
Homeownership Rates by State
New York (52.2%), California (55.3%), & Hawaii (60.6%) have the lowest rates of homeownership in the United States.
Red flags when buying a house include structural issues (foundation cracks, sloping floors), water problems (stains, musty smells, basement flooding signs, poor drainage), sloppy renovations (fresh paint covering damage, crooked finishes, DIY work), bad maintenance (old roof, deferred upkeep), and listing/market oddities (long time on market, multiple price drops, little info). Always get a professional inspection to uncover hidden issues with major systems like electrical, plumbing, HVAC, and roofing before buying.
Federal Reserve data shows that about 23% of Americans have no debt.
The 3-7-3 Rule in mortgages isn't a loan type but a federal timeline from the TILA-RESPA Integrated Disclosure (TRID) rule, ensuring borrower protection by mandating disclosures within 3 business days of application, a 7-business-day wait between the initial Loan Estimate and closing, and another 3-day wait if significant changes (like APR) occur, giving borrowers time to review costs before committing to a loan.
As a homeowner, your equity is your biggest advantage in today's market. If you're mortgage-free (or close to it), it could give you the power to buy your next home in cash. That means you'd still have no mortgage payment in retirement, plus: Less financial stress as you age.
However, after 30 years, the depreciation rate increases significantly when the age is measured with the effective age. For a property built more than 30 years ago with an effective age of 1 year, its value will increase over a few years and decrease around an effective age of 15.
While defining a single "unhealthiest" generation is complex, recent studies suggest Millennials face significant health challenges, showing worse health than Gen X at the same age, with higher rates of depression, obesity, diabetes, and substance abuse, but Gen Z is now reporting even higher rates of unhappiness and mental health struggles, potentially leading to earlier physical declines, though some research also points to rising chronic issues in older generations like Baby Boomers.