Jun 19, 2026
Mar 23, 2026 - Business
Where first-time homebuyers are oldest — and youngest
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Illustration: Sarah Grillo/Axios
The typical age of first-time homebuyers is rising in pricey states like California — and falling in more affordable Midwestern and Southern markets, according to industry data provider Cotality.
Why it matters: High prices, near-6% mortgage rates, and a housing shortage are delaying homeownership for many.
By the numbers: The median age of first-time homebuyers in the U.S. has held relatively steady at 32, per Cotality's analysis of mortgage applications from people with no prior property ownership.
- A separate survey from the National Association of Realtors puts that number higher, at a record 40 years old.
Zoom in: In Los Angeles, San Francisco, San Diego and New York City, the typical first-time buyer was 35 or 36 years old as of September 2025, Cotality data shows.
- Meanwhile, the median age was 32 in Dallas and Houston, 30 in Cleveland, and 28 in Des Moines, Iowa, and Huntsville, Alabama.
- Among all 50 U.S. states, Hawaii saw the highest median age at 38 (up from 34 in 2019), followed by California at 35 (up from 33).
- At the other end: Iowa, North Dakota and South Dakota at 28, each down one to two years from 2019.
The big picture: "In areas like Hawaii, California and New York, people usually take longer to save for down payments and related costs, so they often buy homes later in life after building up more wealth than buyers in more affordable regions," Cotality principal economist Archana Pradhan tells Axios.
What we're watching: Elevated home costs may be reshaping U.S. households, according to Redfin researchers.
- Think: more roommates and fewer babies.
