Baby Boomers are sitting in a stunning amount of housing wealth – across the US, they own an estimated real estate rated from $ 18 trillion to $ 19 trillion.
Boomers now hold nearly half of the country’s real estate. This is a direct reflection of decades of home ownership, increased property values and generating change that is now reshaping the housing market.
But where exactly is that wealth focused?
A reality.com® analysis reveals that while Boomers – Thos born between 1946 and 1964 – have plant roots across the country, a small part of the meter are sustainable as a hotbed for real estate retraction. Unless, Florida prevails in the list, claiming five of the top 10 points.
The state of the sun offers warm weather, no state income tax and a lifestyle that has long been withdrawn to retirees – but other destinations, from coastal California to New England’s scenario, are also popular.
The ranking combines three factors: the part of the homeowners aged 65 and over, the total value of the houses in each market, and the fame value held by the elderly residents. The result is a photo of where retirees are living – but where they are holding some of the most valuable parts of the American Housing Pie.
The richest pension markets in America
Port of North Braden, Fl
Value of real estate held by homeowners aged 65 and older: $ 97 billion
Part of homeowners aged 65 and older: 56%
Average home pricing: $ 495,000
In this meter, located in the Sarasota and Manatee circles on the coast, more than half of the homeowners are boomers. The North Port is not strictly a beach town; Metro includes coastline miles and many other destinations known as Venice Beach. This means that pensioners have the opportunity: direct access to the beach, or nearby access without having to pay some of the highest prices coming with the territory. They also own about $ 97 billion of real estate values approximately $ 174 billion in this meter.
Napoli-Marco Island, rs
Value of real estate held by homeowners aged 65 and older: $ 70 billion
Part of homeowners aged 65 and older: 57%
Average home pricing: $ 749,000
Also located on the west coast of Florida, this area is known as the Sunshine State Paradise Coast. It offers white sandy beaches, luxury resorts and an abundance of outdoor activities, with more than 90 golf courses.
With more houses inside the water, the area has a higher price range, at the average list of $ 749,000. The age group of 65 and older owns about $ 70 billion of $ 122 billion in Naples-Marco island.
Santa Rosa-metaluma, ca
Value of real estate held by homeowners aged 65 and older: $ 54 billion
Part of homeowners aged 65 and older: 47%
Average home pricing: 995,000 dollars
Located approximately 40 miles north of San Francisco, this area is in Sonoma district, famous for its summer country and outdoor access to active pensioners.
“Santa Rosa as a whole is caught towards pensioners,” Fermin EscutiaReal estate real estate agent, realtor.com tells. “Petaluma is the most affordable city in the north of San Francisco. Home sizes will be smaller, but the draw is for the small community to feel completely events.”
The foggy scene comes at a cost, at an average list of $ 995,000. Of the homeowners here, 47% are those aged 65 and older, and they hold approximately $ 54 billion from the value of $ 116 billion.
Barnstable city, MA (Cape Cod)
Value of real estate held by homeowners aged 65 and older: $ 34 billion
Part of homeowners aged 65 and older: 53%
Average home pricing: $ 899,250
Cape Code region has been a favorite destination among pensioners for years, and many have been drawn here by the coastal charm, despite the cold New England weather, as well as a slower peace outside the Boston area.
“The summer is beautiful here, and the barnstable has few hidden gems and local and charm villages that you can’t discover in just a weekend,” Deborah GarnerA real estate agent with Kinlin Grover Compass, realtor.com tells.
But the soaking of this classic full -time charm comes at a cost, at an average list of $ 899,250. The new listings are 6.5% of a year’s action, and the new construction in the northeast is less active than in some southern and mid -western countries, resulting in fewer opportunities available. Owners of homes aged 65 and older estimated $ 34 billion of $ 64 billion real estate.
“There is a generating effect where property is passed and families find it difficult to share with homes,” says Garner.
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Prescott-Prescott Valley, AZ
Value of real estate held by homeowners aged 65 and older: $ 27 billion
Part of homeowners aged 65 and older: 58%
Average home pricing: $ 669,000
In the market of the Prescott-Prescott Valley of Arizona, those aged 65 and over 58% of homes. The Prescott area is known for its older demographics, with an average age of 60.3, while the Prescott Valley area tends to attract a newer crowd, according to the US Census Bureau data.
Arizona, as a state, is a popular destination for pensioners, and Prescott-Prrescott Valley offers a warm climate without the moisture found in Florida. Insurance costs are also lower, second for the lack of hurricane threats. The average list of the area for the area includes $ 669,000, with those aged $ 65 and owning $ 27 billion from the $ 47 billion real estate.
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