Average Home Buying Age Continues to Rise
Buying your first home today is nothing like it was 30 years ago.
In 2024, the average first-time homebuyer is 38 years old. Back in 2020, it was 33. Between 1993 and 2018, it was just 31.
So if you’re renting in your 30s or 40s, you might wonder: Did I miss my chance?
The answer is simple: No, you didn’t.
Actually, you’re right on time—and there are strong financial and personal reasons why.
Why Are Buyers Waiting Longer?
Research from John Burns Research & Consulting shows that Americans are reaching major life milestones later than they used to:
The average age for first-time mothers is now 30, compared to the early 20s a few decades ago.
Only 33% of today’s 30-year-olds own a home, down from 47% in 1984.
Just 48% of 30-year-olds are married today, compared to 78% in 1984.
72% of renters are now over 30 years old—the highest number ever recorded.
This isn’t some random trend. Each generation since the baby boomers has taken longer to hit these milestones.
We’re watching a real shift in how people build their lives and families.
Today, more people focus on education, careers, savings, and flexibility before settling into homeownership.
And with how the economy is today, that’s not just understandable—it’s often the smarter move.
The Cost of Buying a Home
Let’s talk about the obvious: buying a home costs way more than it used to.
According to new research from Redfin, Americans now need to earn $116,633 a year to afford the average home for sale.
Meanwhile, you only need about $64,160 a year to afford the typical apartment rent.
The gap between renting and buying is getting wider:
In 2021, the income gap was only 17%.
By 2023, it jumped to 54%.
In 2025, it passed 80%.
What’s driving this?
Home prices are climbing faster than rents. Mortgage rates are stuck above 6.5%. And in many places, there just aren’t enough homes for sale.
So if you’ve been renting while waiting for your finances to get stronger, you’re not falling behind—you’re adjusting to the reality of the market.
Why Buying Later in Life Can Be an Advantage
Here’s why buying a home later actually works in your favor:
Stronger Finances
By now, you’ve probably had time to grow your income and build up your savings—something that’s a lot harder in your 20s.
You’re also likely to have a better credit score and enough saved for unexpected costs—both huge advantages when buying a home.
Smarter Choices
Think about that apartment you loved in your 20s—until you realized the location was awful?
By your late 30s or 40s, you know what really matters to you in a home.
You’re less likely to make snap decisions and more likely to choose a home that fits your actual lifestyle.
That kind of wisdom can help you avoid regrets and buy with more confidence.
A Market That’s Changing for You
Builders and sellers are paying attention. They’re offering more smaller homes, low-maintenance options, and communities that fit buyers who are hitting life milestones a little later.
Renting is Part of the Journey
The old idea that renting in your 30s, 40s, or even 50s means you’re "falling behind" just doesn’t fit today’s world.
In reality, renting longer often means you’re making smart moves—waiting until both your life and your finances are ready.
So if you’re worried you missed your chance, here’s the truth: You’re exactly where you need to be.
And when you do buy, you’ll be walking into it with experience, confidence, and a clear vision of what you want.
