Honolulu’s Homeowners Are the Sixth Oldest in the Country
Our housing prices are expensive, but we’re also living longer.
With age comes wisdom, and the wise choose year-round sunshine. A recent study showed that Honolulu’s homeowners are the sixth-oldest in the United States. The only cities with an older average age of homeowners were all—not unexpectedly—in Florida: North Port, Cape Coral, Deltona, Palm Bay and Lakeland.
Lending Tree analyzed census data from the top 100 metropolitan areas in the country and found that the average age of a homeowner was 54. In Honolulu, that age is 58.1.
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On the opposite end of the spectrum, Utah has the youngest homeowners, with the only two cities in the country where the average age for a homeowner is under 50, in Provo and Ogden. Utah is known for its relatively inexpensive cost of living and low real estate prices, allowing residents to make homeownership a reality at a young age.
There’s no doubt that our expensive real estate contributes to this statistic. While the 30-year-olds of Ogden are moving into their brand-new homes, many 30-year-olds in Honolulu are living with roommates—and those roommates might be Mom and Dad.
Our longevity is likely a contributing factor as well. Florida is known for the snowbirds and retirees that flock to the area as they slow down in life, but Hawai‘i residents live 3.7 years longer than the national average, according to a University of Hawai‘i study from 2010.