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The Hottest Housing Markets per Age Group for Real Estate Investing

May 17, 2019 10:05 AM | CIREIA Team (Administrator)

Real Estate Investing

One of the critical factors to consider in real estate investing and selling is the demographics of your market. Major shifts in a population’s demographics can have a significant impact on real estate trends for years to come – this includes real estate pricing and the type of properties in demand. As such, it is significant to stay up-to-date with the rising trends and get to know the demographics of your market to get ahead of the competition.  

Top 10 Cities with Youngest Homeowners

Using data from the US Census Bureau, Lending Tree found that some of Utah’s largest cities have the youngest homeowners in the country. Provo, UT —the top city with the youngest homeowners in the country— has an average homeowner age below 50. This is below the national homeowner age, which is 54. Targeting areas with a younger population and growing housing demand may indicate increasing property appreciation rate. Likewise, rising demands for land and rental properties mean better cash flow and higher profits.

Here is the complete list of the top US cities with the youngest homeowners:

  1. Provo, UT
  2. Ogden, UT
  3. Salt Lake City, UT
  4. Des Moines, IA
  5. Austin, Texas
  6. Raleigh, NC
  7. Omaha, NE
  8. Minneapolis, MN
  9.  McAllen, TX
  10.  Houston, TX

Top 10 Cities with Oldest Homeowners

At the other end of the spectrum are the older homebuyers. It comes to no surprise that Florida —senior citizen and retiree haven— still has older homeowners than the other states. According to a report by Lending Tree, 7 out of the 10 metro areas are from Florida, with Pennsylvania and New York State taking the remaining slots. This should push these states’ real estate investors association to target seniors in their marketing agendas.

Here is the list of the cities with high populations of the oldest homeowners:

  1. North Port, FL
  2. Cape Coral, FL
  3. Deltona, FL
  4. Palm Bay, FL
  5. Pittsburgh, PA
  6. Scranton, PA
  7. Tampa, FL
  8. Buffalo, NY
  9. Lakeland, FL
  10.  Allentown, PA

Old is Still Gold

Studies show that while marketing to young and middle-aged adults is very lucrative, it is imperative that real estate investors still make an effort to include seniors in their sales programs.

Even in their twilight years, senior citizens’ housing preferences are still dictating the housing market’s future state, as revealed on the 2018 State of Nation’s Housing Report from Harvard University. In addition, 88 percent of seniors have an intention to remain at their own home.  This trend is expected to rise, increasing the growth rate of older rental and homeowners market.

Age-Inclusive Property Marketing

Appealing to every age group is vital to succeeding in the housing market. In doing so, make sure that you make the right steps and allow room for calculated risks. Let an established real estate investment association like CIREIA help you in this journey. Call us at 317-670-8491, and get started on your path to property marketing success!