The Average Age of First-time Homebuyers in the U.S. Reaches a Record High of 38

In 2024, the median age of first-time homebuyers was 38, according to the National Association of Realtors’ 2024 Profile of Home Buyers and Sellers report. Experts attribute the challenges of buying a home for the first time to factors such as limited inventory, competition from wealthy buyers, and rising rental costs.

First-time homebuyers in the U.S. are getting older. The median age of first-time buyers has reached a record high of 38 years, which is three years older compared to July 2023. This data comes from the National Association of Realtors’ 2024 Profile of Home Buyers and Sellers report, based on a survey of 5,390 buyers who purchased a primary residence between July 2023 and June 2024.

In the 1980s, first-time homebuyers were typically in their late 20s. However, according to Jessica Lautz, deputy chief economist at the National Association of Realtors (NAR), today’s first-time buyers tend to be older, earn higher incomes, and have more wealth.

This shift is largely due to rising home prices, which require larger down payments. As a result, the proportion of first-time homebuyers in the market has declined from 32% to 24% over the past year, marking the lowest share since NAR began tracking this data in 1981.

Experts say that factors such as the nationwide housing shortage, competition with wealthier buyers, and high rent prices are making it harder for younger adults to purchase their first home.