Written by Dan Green
Dan Green
Dan Green (NMLS 227607) is a licensed mortgage professional who has helped millions of people achieve their American Dream of homeownership. Dan has developed dozens of tools, written thousands of mortgage articles, and recorded hundreds of educational videos. Read more about Dan Green.
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This article was checked for accuracy as of September 19, 2024. Learn more about our commitments to accuracy and your mortgage education in our editorial guidelines.
Updated: September 19, 2024
Older Millennials are making significant moves in the housing market.
Home buyers aged 35-44, who have experienced both economic growth and downturns, are carefully entering the real estate market.
Our study, “ZIP Code Invasions: Older Millennial Home Buyers Age 35-44,” uses data from the FFEIC and the Home Mortgage Disclosure Act (HMDA) to highlight where older Millennials are purchasing homes.
Older Millennials combine their technological expertise with growing financial resources. Their average loan size in 2022 was $437,904, the highest among all age groups, reflecting their focus on metropolitan areas and affluent suburbs.
For example, 64.47% of home buyers in the 98029 ZIP code of Issaquah, Washington, are aged 35-44. In Pleasanton, California’s 94566, a similar trend is seen. Both areas report household incomes exceeding $130,000.
In New York, Older Millennials are choosing ZIP codes such as 10506 in Bedford and 10583 in Scarsdale, where home values are close to $1.7 million. Other key areas include Troy, Michigan (48084), and South Plainfield, New Jersey (07080), reflecting their impact across the country.
Scroll to the bottom for our complete methodology.
Compare mortgage rates in Issaquah
98029 spans parts of Issaquah, a picturesque city in King County, Washington, nestled against the southern base of the Sammamish Plateau, overlooking Lake Sammamish. For Older Millennial home buyers, this region presents a harmonious blend of nature's tranquility and modern living. The area is home to the planned community of Issaquah Highlands, known for its eco-friendly homes, walkable neighborhoods, and a vibrant mix of shops, restaurants, and parks. Economically, Issaquah's proximity to Seattle's metropolitan hub ensures diverse job opportunities, while local employers like Costco's corporate headquarters add to the region's economic vibrancy. Recreational enthusiasts appreciate nearby Cougar Mountain Regional Wildland Park, which offers an array of hiking trails and panoramic views. Combining its suburban sophistication, economic access, and the allure of the Pacific Northwest's natural beauty, 98029 stands out as a coveted locale for mature professionals seeking balanced living in the Seattle metro area.
Compare mortgage rates in Pleasanton
94566 traverses a significant portion of Pleasanton in Alameda County, California, a city renowned for its historic downtown, tree-canopied streets, and the serenity of the Tri-Valley region. As individuals in their late-30s and early-40s contemplate their next life chapter, Pleasanton's appeal is multifaceted. Its downtown, marked by a blend of Victorian architecture and modern establishments, offers an array of dining, shopping, and cultural events. The nearby Fairgrounds facilitate annual events, including the Alameda County Fair. Economically, Pleasanton's advantageous positioning near the crossroads of major Bay Area highways facilitates connectivity to tech and corporate hubs, while the city itself hosts several key businesses. The Ruby Hill Winery adds to the area's charm, exemplifying the region's agrarian history and current luxury living. In 94566, the synthesis of heritage, economic potential, and the picturesque setting of valleys and vineyards makes it a compelling choice for Older Millennial home buyers gravitating towards a prosperous suburban experience.
Compare mortgage rates in Bedford
10506 captures the essence of Bedford, an upscale town located in the verdant woodlands of Westchester County, New York. For Older Millennial home buyers in their late-30s and early-40s, Bedford offers a peaceful respite from the urban sprawl, marked by its historic estates, equestrian farms, and conservation areas. The Bedford Village Historic District stands as a testament to the town's rich heritage, with structures dating back to the 18th century, lending a sense of timeless charm. Economically, while Bedford exudes rural elegance, its proximity to New York City — a mere hour's drive or train ride — provides residents access to one of the world's primary economic centers. The Bedford Playhouse, with its arts cinema and community events, and the expansive Mianus River Gorge Preserve, contribute to the town's cultural and natural attractions. For professionals seeking an enclave that seamlessly merges historic charm, natural beauty, and accessibility to urban hubs, 10506 emerges as a premium choice.
Compare mortgage rates in Scarsdale
Nestled in Westchester County, 10583 envelops the sophisticated village of Scarsdale, an epitome of affluent suburban living just north of The City in Westchester County, New York. For individuals in their late-30s and early-40s, Scarsdale stands out as a beacon of tranquility and refinement. The village boasts Tudor-style architecture, particularly in its town center, evoking a sense of historic richness that resonates with its centuries-old roots. Scenic spots like the Scarsdale Pool Complex and the Greenacres neighborhood add to its allure. The town's public schools consistently rank among the nation's best, making it a prime location for families prioritizing education. Economically, Scarsdale's proximity to Manhattan offers unparalleled access to global business hubs, while the local landscape is populated by a mix of professionals, entrepreneurs, and influential figures. A harmonious blend of cultural heritage, educational excellence, and economic connectivity, 10583 is a compelling choice for Older Millennial home buyers and families keen on a prosperous and balanced lifestyle.
Compare mortgage rates in Troy
Troy's 48084 is a prime economic node nestled in the northern segment of the city in Oakland County, Michigan. A distinguishing feature is the Somerset Collection, an upscale mall attracting discerning shoppers with its luxury brands and gourmet dining establishments. Troy has long been recognized as a significant business hub in the Detroit Metropolitan Area. This ZIP code, particularly, has a high concentration of office spaces, housing several Fortune 500 companies. With a broad range of professional opportunities in sectors like finance and technology, it's a magnet for individuals in their late-30s and early-40s seeking career advancement and stability. Geographically, 48084 boasts well-organized residential areas interspersed with parks, offering both urban convenience and suburban serenity. Its strategic position near major highways like I-75 also facilitates efficient commutes. All these elements converge to make 48084 an economically robust and livable enclave for Older Millennial home buyers.
Compare mortgage rates in New York
11205 covers parts of Brooklyn, including the dynamic neighborhoods of Fort Greene, Clinton Hill, and sections of the Brooklyn Navy Yard. This area of Bronx County, New York, steeped in rich history and artistic flair, appeals to Older Millennial home buyers in their late-30s and early-40s, many of whom appreciate the architectural elegance of brownstone homes and the cultural vibrancy offered by institutions like the Brooklyn Academy of Music. Economically, the Brooklyn Navy Yard is a beacon of urban renewal and innovation, housing a blend of tech startups, artisans, and light manufacturers. Clinton Hill and Fort Greene, with their tree-lined streets, provide a neighborhood feel within a sprawling city and are peppered with chic cafes, art galleries, and local boutiques. With its balance of cultural offerings, historic preservation, and economic revitalization, 11205 offers an ideal environment for established professionals seeking an eclectic and economically promising urban experience.
Compare mortgage rates in South Plainfield
Situated in Middlesex County, New Jersey, the 07080 area encompasses the borough of South Plainfield, a community that skillfully merges suburban serenity with economic vibrancy. For individuals in their late-30s and early-40s, South Plainfield provides a desirable environment defined by its tree-lined streets, well-maintained parks, and recreational areas. Notably, Spring Lake Park, spanning over 30 acres, serves as a focal point for community gatherings, leisurely strolls, and seasonal events. The borough's historic district, with homes dating back to the 18th century, offers a window into the region's storied past, while modern commercial establishments reflect its forward momentum. Economically, South Plainfield's strategic location near key transportation corridors, such as I-287, ensures easy connectivity to larger urban centers in New Jersey and New York. This ease of access, combined with a host of local businesses, positions 07080 as a locale conducive for Older Millennial home buyers seeking a balance between work engagements and quality of life. For those aspiring for a harmonized blend of historic charm, contemporary amenities, and economic potential, South Plainfield stands out as an optimal choice.
Compare mortgage rates in San Ramon
94582 covers a significant portion of San Ramon, nestled within California's picturesque Tri-Valley region. For individuals in their late-30s and early-40s, this Contra Costa County, California ZIP code emerges as a beacon of well-planned living against the serene backdrop of rolling hills and the prominent Mount Diablo. One of the notable facets of 94582 is the master-planned community of Windemere, characterized by its contemporary homes, expansive parks, and top-tier schools, creating a setting ideal for families prioritizing education and community. San Ramon is not just about residential finesse; it's also an economic powerhouse. The Bishop Ranch business park, situated within this ZIP code, serves as a base for numerous Fortune 500 companies, startups, and regional businesses. This dynamic juxtaposition of a thriving business ecosystem amidst suburban calm makes 94582 unique. Proximity to the Bay Area's core cities, coupled with local amenities like the San Ramon City Center—a hub for shopping, dining, and entertainment—fortifies its appeal. For Older Millennial home buyers aiming for a locale that balances economic opportunities, family-oriented living, and natural beauty, 94582 stands out as an exemplary choice.
Compare mortgage rates in San Jose
Encompassing parts of the southern San Jose region, 95118 offers a unique blend of suburban appeal amidst the tech-driven dynamism of Silicon Valley. For individuals in their late-30s and early-40s, this ZIP code in Santa Clara County, California presents a blend of mature neighborhoods, recreational amenities, and economic promise. Characterized by tree-canopied streets and well-maintained homes, 95118 is emblematic of the established, family-friendly areas of San Jose. Almaden Lake Park, a gem within this locality, offers residents an oasis for relaxation, fishing, and picnicking, serving as a green retreat in the midst of urban living. Economically, its position within San Jose — the heart of Silicon Valley — means Older Millennial home buyers have access to some of the world's most influential tech companies and startups. Moreover, the commercial corridors along Almaden Expressway and Blossom Hill Road ensure that shopping, dining, and essential services are always within easy reach. For professionals who value a neighborhood with a strong sense of community, accessibility to tech hubs, and local recreational amenities, 95118 emerges as a preferred choice in the broader San Jose area.
Compare mortgage rates in Blackhawk
The ZIP code 94506 wraps around the eastern portion of Danville and extends into the luxury enclave of Blackhawk, both situated in the lush San Ramon Valley and Contra Costa County, California. For individuals in their late-30s and early-40s, Danville, with its rich historical context and a reputation for refined living, makes a compelling case. Downtown Danville, marked by its preserved Old West character, is dotted with upscale boutiques, gourmet restaurants, and a range of cultural institutions, providing a balance of leisure and enrichment. Further east, Blackhawk elevates the area's prestige with its sprawling estates, the renowned Blackhawk Country Club, and the Blackhawk Museum, which showcases both automotive marvels and diverse cultural artifacts. Economically, Danville benefits from its proximity to the Bay Area's tech and corporate hubs, while also hosting a bevy of local businesses that add to its economic vitality. For Older Millennial home buyers eyeing a harmonious blend of suburban tranquility, historical depth, and economic convenience, 94506 stands as an embodiment of upscale Bay Area living.
Compare mortgage rates in Sammamish
98074 captures the essence of Sammamish, a city perched on the eastern shores of Lake Sammamish in Washington State. For individuals in their late-30s and early-40s, this area presents a desirable blend of scenic beauty, community cohesion, and urban proximity. Sammamish is characterized by its verdant landscapes, punctuated by water bodies and well-curated parks such as Pine Lake Park, a favorite among locals for its recreational offerings. Economically, Sammamish in King County, Washington, benefits from its proximity to tech hubs in Redmond and Bellevue, with giants like Microsoft and others a short commute away. This convenience makes 98074 particularly appealing to tech professionals seeking respite from city bustle without sacrificing career momentum. Moreover, the local schools here have garnered acclaim for their excellence, making the region a sought-after choice for families. In essence, 98074 resonates with Older Millennial home buyers seeking a life that offers both the tranquility of nature and the dynamism of nearby urban centers, representing a holistic Pacific Northwest experience.
Compare mortgage rates in Fremont
94539 is located in southern Fremont, encapsulating the Mission San Jose district and parts of the Warm Springs region. This area is highly sought after by Older Millennial home buyers in their late-30s and early-40s, often drawn by the promise of excellent schools, expansive green spaces, and the balance of suburban tranquility within proximity to Silicon Valley. Historically significant, Mission San Jose anchors the district with its preserved Spanish mission, providing a unique cultural backdrop. Economically, the proximity to major tech hubs, including the Tesla factory and numerous Silicon Valley enterprises, makes 94539 a strategic locale for professionals eyeing both tech and non-tech sectors. The Mission Peak Regional Preserve offers nature enthusiasts hiking trails with panoramic Bay Area views. Combining a rich tapestry of history, economic potential, and natural beauty, 94539 is an enticing enclave for mature professionals navigating their peak career years.
Compare mortgage rates in Moraga
94575 is synonymous with Moraga, an enclave nestled in the Lamorinda area of California. For those in their late-30s and early-40s, Moraga presents a captivating mix of serene living and educational distinction. Characterized by its rolling hills, winding creeks, and a tight-knit community vibe, it's a haven for those seeking a quieter pace. The town's centerpiece, the Moraga Commons Park, frequently hosts community events and offers vast green spaces for relaxation. Economically, Moraga enjoys stability and prosperity, with its residents often engaged in professional and managerial roles in the broader Bay Area. A significant highlight of 94575 is Saint Mary's College, a renowned institution that not only elevates the town's academic profile but also contributes to its cultural richness. In essence, Moraga and the 94575 ZIP code offer an idyllic blend of peaceful living, community engagement, and academic excellence, making it an appealing choice for Older Millennial home buyers and families.
Compare mortgage rates in San Miguel
94596 encompasses a dynamic portion of Walnut Creek, a city celebrated for its harmonious melding of urban vibrancy and suburban comfort. For Older Millennial home buyers in their late-30s and early-40s, this area is especially captivating given its rich blend of commercial, recreational, and residential offerings. Downtown Walnut Creek, which falls within this ZIP code, is a bustling epicenter of shopping, fine dining, and arts, anchored by establishments like the Broadway Plaza and the Lesher Center for the Arts. The Iron Horse Regional Trail winds its way through, offering residents a slice of nature amidst urban surroundings. Economically, Walnut Creek benefits from its strategic position in the East Bay, serving as a hub for both local businesses and those commuting to larger cities like San Francisco. The region's schools and community programs further its allure for families. In totality, 94596 stands as a representation of Walnut Creek's essence, offering a sophisticated lifestyle marked by convenience, culture, and community.
Compare mortgage rates in Glendale
91203 encompasses a segment of Glendale, in Los Angeles County, California - a dynamic city positioned north of downtown Los Angeles. For professionals in their late-30s and early-40s, this ZIP code is particularly alluring, marked by its convergence of urban flair and community-driven atmosphere. The area boasts a fusion of architectural styles, from historic Spanish Revival to modern complexes, reflecting Glendale's rich tapestry of growth and culture. The Central Avenue corridor is a commercial spine, dotted with a medley of eateries, shops, and essential services. Economically, Glendale's reputation as a media and entertainment hub, with companies like Disney's Grand Central Creative Campus in proximity, makes 91203 a strategic locale for Older Millennial home buyers in related industries. Moreover, the area's accessibility, facilitated by major thoroughfares and public transit, simplifies commutes to Los Angeles and beyond. All told, 91203 encapsulates Glendale's urban charm, where the pulse of city life meets neighborhood warmth, rendering it a strategic and desirable address.
Compare mortgage rates in Tuckahoe
10708 envelops the village of Bronxville, located within the town of Eastchester in Westchester County, New York. For individuals in their late-30s and early-40s, Bronxville presents an appealing synthesis of suburban tranquility, historic architecture, and metropolitan accessibility. The village's Tudor-style downtown, compact yet bustling, boasts a range of upscale boutiques, eateries, and cultural venues, epitomizing Bronxville's distinctive character. Economically, Bronxville's affluent profile is underscored by its high real estate values and the presence of successful professionals, many of whom appreciate the relatively short commute to Manhattan via the Metro-North Railroad. The village is also home to the esteemed Sarah Lawrence College, adding an academic and cultural dimension to the locality. Combining the benefits of its strategic location, architectural charm, and close-knit community, 10708 emerges as a sought-after ZIP code for Older Millennial home buyers desiring a harmonized experience of village life within arm's reach of New York City's dynamism.
Compare mortgage rates in Pelham
10803 covers Pelham, the oldest town in Westchester County, lying just north of New York City's Bronx borough. For those in their late-30s and early-40s, Pelham offers an inviting balance of historic charm, community vibrancy, and metropolitan convenience. Pelham's architecture is a testament to its rich history, with many homes reflecting colonial, Tudor, and Victorian influences. The town's closeness to Manhattan—less than a half-hour train ride via the Metro-North Railroad—makes it a prime location for Older Millennial home buyers who prioritize ease of commute without sacrificing the appeal of suburban living. Economically, Pelham's local businesses, from unique boutiques to diverse eateries along Fifth Avenue, contribute to its robust community atmosphere. The presence of cultural venues, such as The Picture House, only heightens its allure. Overall, 10803 epitomizes the blend of a close-knit community enriched by cultural and historical assets, while enjoying the benefits of its proximity to one of the world's leading cities.
Compare mortgage rates in Woodridge
60517 covers the village of Woodridge, situated southwest of Chicago in Cook County, Illinois. For individuals in their late-30s and early-40s, Woodridge offers a harmonious blend of suburban life enriched by natural beauty and modern amenities. The village boasts an array of parks and open spaces, with the Cypress Cove Family Aquatic Park being a standout attraction for families. The Seven Bridges complex adds to the area's appeal, offering a mix of shopping, dining, and entertainment options. Economically, Woodridge benefits from its strategic location, providing easy access to major highways and transportation routes, making it a preferred choice for professionals commuting to Chicago or other neighboring towns. In essence, 60517 encapsulates Woodridge's suburban charm, marked by recreational offerings, convenient amenities, and a strong sense of community, making it an enticing option for Older Millennial home buyers seeking a balance of urban proximity and serene living.
Compare mortgage rates in Charlotte
28277 encompasses the Ballantyne and southern parts of Charlotte in Mecklenburg County, North Carolina, standing as one of the city's most affluent and rapidly developing areas. For those in their late-30s and early-40s, this ZIP code beckons with a fusion of business opportunities and suburban amenities. Ballantyne Corporate Park, a 535-acre business center, hosts numerous Fortune 500 companies, making the locale a magnet for professionals. The area also has upscale shopping centers, including Ballantyne Village and StoneCrest at Piper Glen, which offer a curated mix of boutiques, dining establishments, and entertainment venues. From a residential perspective, 28277 offers a range of housing options, from luxury apartments to sprawling estates, catering to diverse lifestyles. Its proximity to top-rated schools and recreational spaces, such as the Ballantyne Country Club, elevates its appeal for families. Overall, 28277 represents Charlotte's synthesis of economic dynamism and suburban comfort, making it a sought-after destination for Older Millennial home buyers and their families.
Compare mortgage rates in Oakland
94516 is designated for Canyon, a unique, tucked-away community in the hills of Contra Costa County, California. For individuals in their late-30s and early-40s, Canyon offers an unparalleled retreat into nature while remaining close to urban hubs like Oakland and San Francisco. This enclave is characterized by its dense redwood forests, winding roads, and homes that blend seamlessly into the rugged landscape. Its small size and remote feel make it a haven for Older Millennial home buyers who prioritize privacy and a deep connection to the natural world. Economically, while Canyon itself is primarily residential, its proximity to larger cities allows residents to access diverse career opportunities without straying far from their woodland retreat. The renowned Joaquin Moraga Intermediate School nearby bolsters the region's appeal to families. Essentially, 94516 is for those who seek an almost treehouse-like living experience, balancing the serenity of a secluded forest with the conveniences of nearby urban centers.
The data for our study was sourced from the FFEIC website, specifically the Snapshot National Loan Level Dataset for 2018-2023. These files contain HMDA data submitted by U.S. mortgage lenders as of April 30, 2022, with privacy protections applied to applicants and borrowers.
This study focuses on home buyers of 1-4 unit residential properties across the 50 states and Washington, D.C. We excluded purchases of second homes and investment properties, as well as one-time construction loans and open-ended mortgages like home equity lines of credit (HELOC).
Our analysis involved complex database queries, which combined data from the Loan Application Register and U.S. Census Bureau to handle large datasets over 30 GB in size.
We excluded outlier data from applications marked withdrawn and incomplete, as these fell outside typical ranges. Less than 0.5% of the HMDA data was removed for these reasons.
To ensure accuracy, we relied on the strength of the HMDA data and the precision of our queries. The data extraction, filtering, and analysis processes were designed to maximize reliability.
We conducted this research to help first-time home buyers make informed decisions about housing.
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138 Generational Home Buyer Statistics of U.S. Buyers
Real estate research: Top 100 U.S. ZIP codes where Older Millennial home buyers aged 35-44 buy homes.
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