The Evolving Age of Home Buyers: A Century in Perspective (1920-2023)

Owning a home has long been part of the American Dream. From 1920 to 2023, the age of first-time homebuyers has witnessed shifts due to social, economic, and political changes. This article delves into the average age of home buyers throughout the past century, identifying major milestones and discussing underlying factors.

1920s: The Roaring Twenties

Average Age of Home Buyers: Early to mid-20s

The post-World War I era saw a booming economy. Homeownership was attainable for many young couples in their early to mid-20s. The development of suburbs began, leading to an increase in homeownership.

1930s: The Great Depression

Average Age of Home Buyers: Late 20s to early 30s

The economic collapse led to a significant downturn in homeownership. With financial instability, those who could afford homes were typically older and had more savings or stable jobs. In 1934 the Federal Housing Administration created the FHA loan. The FHA loan made it easier for consumers to purchase a home.

1940s: The World War II Aftermath

Average Age of Home Buyers: Mid to late 20s

Post-WWII, the GI Bill enabled veterans to buy homes with little or no down payment. This led to the Baby Boom and a surge in homeownership among younger individuals and families.

1950s-1960s: The Suburban Boom

Average Age of Home Buyers: Late 20s

With urbanization, increased car ownership, and the establishment of the Interstate Highway System, suburbs flourished. The “American Dream” was synonymous with owning a suburban home, typically attainable by those in their late 20s.

1970s: Economic Shifts

Average Age of Home Buyers: Early 30s

The oil crisis, inflation, and higher interest rates led to increased costs of living and home prices. Consequently, people were buying their first homes a bit later.

1980s: The Mortgage Crisis

Average Age of Home Buyers: Early to mid-30s

With high-interest rates early in the decade and a savings and loan crisis towards the end, homeownership was challenging. Those buying homes were generally older, with more stable finances.

1990s: The Digital Age and Economic Growth

Average Age of Home Buyers: Early 30s

The ’90s experienced economic growth and technological advancements. The era witnessed relatively stable home prices, making homeownership accessible at earlier ages.

2000s: Housing Bubble and Crash

Average Age of Home Buyers: Mid 30s

While the early 2000s saw a surge in young homeowners due to easy lending practices, the latter half witnessed the housing crash. The fallout raised the average age of buyers as younger individuals faced financial challenges.

2010s: Recovery and Millennial Challenges

Average Age of Home Buyers: Late 30s

The recovery from the 2008 recession was slow. Coupled with student loan debts and changing lifestyle choices, millennials delayed homeownership.

2020s: Post-Pandemic Era

Average Age of Home Buyers: Late 30s to early 40s (up to 2023)

COVID-19 impacted economies globally. However, low interest rates, urban flight, and remote work pushed many towards homeownership. Yet, the average age has steadily increased, given economic uncertainties, the desire for mobility, and changing societal norms around homeownership.

Factors Influencing the Average Age:

  1. Economic Conditions: Recessions, booms, and financial crises directly affect homeownership.
  2. Social Norms: Changing perspectives on family, marriage, and independence have shifted homeownership timelines.
  3. Government Policies: Programs like the GI Bill or lending regulations can either promote or hinder homeownership.


The average age of home buyers from 1920 to 2023 offers a mirror to society’s changing priorities, challenges, and opportunities. While the dream of homeownership remains, the pathway to that dream has evolved, shaped by a myriad of factors interwoven with the tapestry of history.

About Brian Birk