Texas homeowners among youngest in nation - Albuquerque Journal

Texas homeowners among youngest in nation

When it comes to homebuyers, Texas’ big cities have some of the country’s youngest property owners.

Austin, Houston and Dallas were all at the top of the list of U.S. metro areas with the youngest homeowners, according to a new report by mortgage company LendingTree LLC.

“Younger homeowners like Texas,” LendingTree’s Stacia Werksma said in an email. “Austin ranks number one for the youngest homeowners (47 and 48 years old).

“Houston and Dallas also make the top five.”

Houston ranked third with an average homeownership age of 49, and Dallas was fourth with 49.08 years.

Nationwide, the average homeowner is between 51 and 52 years old.

The migration of millennials following jobs to Texas has caused a surge in homebuying, which has lowered the average owner age.

Texas has led the country in sales of new and existing homes.

The median monthly housing cost in Dallas for owners with a mortgage is $1,758 a month. In Austin, the monthly cost of homeownership is more than $1,900.

While Texas has some of the youngest homeowners, Florida cities popular with retirees have some of the oldest property owners.

The average homeowner in Miami is 54.5 years old, and in Tampa the average is more than 54 years.

Homeownership age has been trending older for decades. In 2020, the median age of homeowners in the U.S. was 47 years, according to the National Association of Realtors.

In the 1970s, nationwide homeowners had a median age of about 30.

©2021 The Dallas Morning News. Distributed by Tribune Content Agency, LLC.


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