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170+ Mortgage Statistics
Generational Home Buyer Statistics
Annual HMDA Home Buyer Study
Most Popular Places for Vacation Homes In Every State
Gen Z Home Buyer Distribution By Location
Younger Millennial Home Buyer Distribution By Location
Older Millennial Home Buyer Distribution By Location
ZIP Code Invasions: Gen Z
ZIP Code Invasions: Younger Millennials
ZIP Code Invasions: Older Millennials
Since 2003, Dan Green has been a leading mortgage lender and respected industry authority. His unwavering commitment to first-time home buyers and home buyer education has established him as a trusted voice among his colleagues, his peers, and the media. Dan founded Homebuyer.com to expand the American Dream of Homeownership to all who want it. Read more about Dan Green.
Homebuyer.com is your trusted guide to homeownership. Since 2003, our team has offered real-world expertise and advice to tens of millions of U.S. home buyers. Our content stands on its integrity: it's factual, unbiased, and free from outside influences. Read more about our governing editorial guidelines.
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Homebuyer.com is a mortgage-company-affiliated publisher. We earn compensation when you click specific links on the website, or apply for a mortgage with Homebuyer.com or partner listed in our comparison tables. Our partners compensate us differently, so we randomize our tables to protect our readers from steering. We may also earn compensation for advertisements on the site, which are indicated clearly. Note that limitations in our software, whether we originate mortgages in your area, and credit factors may affect the offers and comparison tables you see on various parts of this site. We do not include offers for every mortgage product available. Someday, we hope we will.
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Looking for interesting home buyer statistics to use in your research or company presentation? You’re in the right place.
We combed through 11 million mortgage applications from 2022 and searched more than a terabyte of public mortgage and housing data to bring you 100+ generational home buyers statistics you can share with your friends, colleagues, and trivia nerds.
This Homebuyer.com study examines the behavior and choices of U.S. home buyers, sorted into six distinct age groups.
The data points include, by generation: loan size, purchase price, downpayment amount, mortgage loan choice, race, geographic preferences, and relative household income.
This study is part of a larger body of research that includes mortgage statistics and reports on fairness in lending. Our research center grows each month and includes racial, ethnic, and other demographic data as part of our Annual Homebuyer HMDA Study.
You may also be interested in our companion report, Mortgage Statistics for Research Projects & Home Buyers, a collection of in-depth mortgage data from the last few years of lending.
We encourage you to read our methodology and use our research in your projects.
Happy homebuying, everyone.
Gen Z home buyers are home buyers aged 18-24. Renters within this age group often harbor a strong desire for homeownership. Homes symbolize stability and personal freedom, and the potential for financial growth through real estate is appealing.
Gen Z home buyers are driven by the wealth-generation opportunities of owning a home and the chance to invest in their future. To them, owning a home is more than just avoiding rent or moving out of your parent’s house; it’s about establishing roots and achieving a sense of accomplishment.
Gen Z home buyers overwhelmingly use low-downpayment mortgages.
Younger Millennial home buyers are home buyers aged 25-34. Many renters within this generational sub-group have moved past their careers’ initial stages and seek longer-term stability for themselves, their pets, and their families.
For Younger Millennials, a home isn’t just a place to live; it’s a statement of their life progression. The dream of owning property goes beyond the tangible, tied to life milestones like starting a family or establishing a professional base. Many seek out first-time home buyer grants to make a faster transition from renting to owning.
Older Millennial home buyers are individuals aged 35-44. Renters within this generational sub-group have made a significant effort toward establishing their careers and building a foundation for their future.
For many Older Millennials, the consideration extends beyond the individual to a growing family, even considering schools and community amenities. Owning any of the 26 styles of American homes is an empowering milestone for Older Millennials, solidifying their status and ensuring a legacy for the next generation.
Their American dream of homeownership resonates deeply and is associated with stability, community involvement, and a space for family gatherings.
Generation X home buyers are people aged 45-54. Buyers within this generational group have typically reached career or family milestones and now contemplate their transition into the later stages of life.
For a generation that professes not to care, Gen X cares about homeownership. They buy versatile homes with extra rooms and spaces for multigenerational living to care for college-aged children and aging parents. They hear a lot of first-time home buyer tips from friends and family. They’re ready to put that advice into action.
Homeownership for Generation X is a forward-thinking strategy. Their homeownership vision is interwoven with a sense of legacy, an anchor in the community, and a space where memories get made.
Younger Baby Boomer home buyers are buyers aged 55-64. Buyers within this generational sub-group are often in transition, balancing the prospect of impending retirement with the potential responsibilities of supporting adult children or grandchildren.
For Younger Baby Boomers, homeownership reflects past achievements and a strategy for the future. Many buyers within the age group look for homes with simpler floor plans, proximity to healthcare facilities, and community social activities.
This age also starts the migration to warmer climates. Compared to other age groups that tend to move to Texas, Colorado, and other western states, Younger Baby Boomers overwhelmingly buy homes in Florida.
Homeownership for Younger Baby Boomers represents a culmination of life’s efforts. It embodies a retreat, a gathering place for family, and a testament to their lasting impact on future generations.
Older Baby Boomer home buyers are buyers aged 65-74. Buyers within this generational sub-group have weathered multiple personal and professional transitions. Retirement, for many, is either in full swing or on the immediate horizon.
For the Older Baby Boomers, homeownership carries both nostalgia and pragmatic considerations. Many seek simpler, maintenance-free living closer to amenities and recreational activities that align with their changing lifestyle. They value the comforts of familiar neighborhoods and are open to relocating to active senior communities.
Homeownership for Older Baby Boomers is about comfort, convenience, and community. It’s a space of serenity, where they can enjoy their golden years, welcome family and friends, and celebrate life’s rich tapestry.
The data for this generational home buyer study was gathered from the FFEIC Snapshot National Loan Level Dataset for 2022, except where noted. The FFEIC files contain national HMDA datasets from all HMDA reporters, which include mortgage lenders, retail banks, and credit unions.
Application data is modified to protect applicant and borrower privacy.
For mortgage-related data points, the study excludes open-ended mortgages in first-lien positions, subordinate liens in junior positions, and reverse mortgages, except where noted.
We sourced the home buyer statistics in this study using complex database queries. We removed outlier data, mostly related to home buyers who withdrew their mortgage applications before closing and mortgage applications that fell beyond typical and expected ranges.
Less than one-half of one percent of HMDA data was excluded for reasonability reasons.
Despite the thorough nature of HMDA data, our study required additional calculations to derive more complex home buyer statistics. Relative percentages and comparison figures required advanced mathematical calculations, which we queried and compiled.
To ensure the accuracy of our study, we relied on the robustness of the HMDA data and the precision of our queries. The stringent data extraction, filtering, and analysis process improved our results’ reliability.
Homebuyer.com makes its mortgage research generally available to help home buyers better understand the mortgage market and to promote decency and fair treatment for all first-time home buyers.
Our generational home buyer research can be shared in social media platforms, personal blogs, and online forums or used in academic and professional presentations with proper attribution. We request that you adhere to the following attribution guidelines while doing so:
By following these guidelines to share this research and these mortgage statistics, we can work together to promote a fair and transparent mortgage lending environment for all home buyers.
For follow-up information and usage rights for our research, please email our team at hello@homebuyer.com.
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Mortgage Rate Assumptions
The Homebuyer.com mortgage rates shown on this page are based on assumptions about you, your home, and the state where you plan to purchase. The rate shown is accurate as of , but please remember that mortgage rates change without notice based on mortgage bond market activity.
The Homebuyer.com mortgage rates shown on this page are based on assumptions about you, your home, and the state where you plan to purchase. The rate shown is accurate as of {{ formatDate(rates[0].createdAt) }}, but please remember that mortgage rates change without notice based on mortgage bond market activity.
Our mortgage rate assumptions may differ from those made by the other mortgage lenders in the comparison table. Your actual mortgage rate, APR, points, and monthly payment are unlikely to match the table above unless you match the description below:
You are a first-time buyer purchasing a single-family home to be your primary residence in any state other than New York, Hawaii, and Alaska. You have a credit score of 660 or higher. You are making a down payment of twenty percent and using a 30-year conventional fixed-rate mortgage. You earn a low-to-moderate household income relative to your area.
The information provided is for informational purposes only and should not be confused for a mortgage rate commitment or a mortgage loan approval.
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