The median age of first-time homeowners is now 38 years old, an all-time high

The median age of first-time U.S. homebuyers climbed to a record 38 years in 2024, up from 35 the year before and far older than the late-20s buyers who dominated the market in the 1980s, according to the National Association of REALTORS® (NAR). The shift underscores how affordability pressures—ranging from high housing prices and steeper mortgage rates to soaring rents—are forcing would-be buyers to delay homeownership.

Why Buyers Are Older

• Economic barriers: Elevated home prices and mortgage rates have made affordability a greater challenge, raising the bar for entry.
• Rent pressures: With rents rising faster than wages, many households struggle to set aside savings for a down payment.
• Debt load: High rent payments often prevent renters from paying down existing debts, worsening debt-to-income ratios and limiting mortgage eligibility.

Market Impact

The share of first-time buyers has fallen to its lowest level since 1981, evidence that many younger adults are locked out of the housing market. By contrast, those entering the market today tend to be older, with higher incomes and accumulated wealth to weather the affordability crunch.

Historical Comparison

Back in the 1980s, the typical first-time buyer was in their late 20s. The new median of 38 marks a dramatic shift, reflecting how much tougher it has become for younger generations to match the path their parents or grandparents once followed into homeownership.

Broader Implications

This record-high age highlights the severity of the housing affordability crisis. For many, the American Dream of buying a first home is being pushed later into life, reshaping both the demographics of new homeowners and the broader housing market.