The Average Age Of NYC Homeowners Continues To Rise, New Report Finds

NEW YORK CITY — The average age of New York City-area homeowners has continued to rise within the last year, according to a new report.

According to the National Association of Realtors, the median age of homeowners in the New York City-New Jersey metro area was 58.8 years old as 2024.

That is a 4.4-year increase from the median age of homeowners in the area from 2010, according to NAR.

In addition, the homeownership rate slightly decreased from 52.7 percent in 2010 to 51.3 percent in 2024.

According to the report, older homeowners are holding onto their houses longer while fewer younger households are making the jump to buy property due to a housing affordability crisis.

While homeownership rates have stayed steady for households 65 and older, the same could not be said for their younger counterparts.

Homeownership rates for those ages 25 to 34, 34 to 55, 45 to 54 and 55 to 64 have all declined.

Across the country, the median first-time homeowner age last year was 40-years-old, according to NAR. That figure is up from 38 years old in 2024.

You can read the full National Association of Realtors’ report here.