Baby Boomers are the wealthiest generation of Americans alive today, and while some may no longer be active in the housing market, plenty are still looking to buy homes.
But where are Baby Boomers looking to buy? To answer this question, LendingTree analyzed mortgage purchase requests made in 2020 on the LendingTree platform across the nation’s 50 largest metropolitan areas.
Las Vegas, Tampa and Phoenix are the metros where Baby Boomers make up the largest share of mortgage purchase requests. In Las Vegas, 19.97% of purchase requests came from Baby Boomers. In Tampa and Phoenix, the numbers are 17.33% and 16.36%, respectively.
“VIENNA, Va. — On a recent sunny afternoon, a half-dozen grinding and spinning cement trucks helped lay the foundation for what many real estate developers see as the most promising housing opportunity in postrecession America: apartment living.
Here in suburban Vienna, about 16 miles west of downtown Washington, Joshua Solomon’s DSF Group is remaking a congested but nondescript intersection into a haven for young adults of the millennial generation. Like many other developers who survived the housing bust, he now expects a coming wave of renters who intend to stay that way for a while to help lead the industry to a brighter future.”