San Diegos homeowners are among nations oldest

Published: Thursday, August 28, 2025 at 7:22 pm

San Diego Homeowners Among Nation's Oldest, Study Finds

A recent study reveals that San Diego boasts the second-oldest homeowners in the nation, solidifying its status as a city with a significant renter population. According to a report by LendingTree, the average age of a homeowner in the San Diego metropolitan area is 54 years old, surpassed only by Los Angeles at 55. The study analyzed data from the 50 largest metropolitan areas in the U.S., utilizing U.S. Census data and other publicly available real estate information.

The national average age of a homeowner is 51 years old, highlighting the trend of older homeowners in San Diego. In contrast, Salt Lake City has the youngest homeowners at 48 years old, followed by Austin and Oklahoma City at 49.

Several factors contribute to this demographic, according to local economist Ray Major. These include the city's role as a retirement destination, the impact of Proposition 13 on property taxes, the lack of major corporate headquarters, and wages failing to keep pace with the cost of living. The high median home price also plays a significant role.

The study also noted that the San Diego metro area, which includes all of San Diego County, has an average age of 39 years old, placing it in the middle of the pack compared to the other 50 metros.

The report also highlighted the financial implications of homeownership versus renting in San Diego. The median monthly housing cost, including a mortgage, is $3,211, while the median monthly gross rent is $2,243.

This news comes amidst other concerning economic indicators for the region. San Diego County recently experienced its highest jobless rate in two years, reaching 5.2% in July. The county also recorded the highest inflation rate in the nation at 4% during the same month. Furthermore, the Demographia International Housing Affordability report ranked San Diego as the 10th most unaffordable metro in the world for purchasing a home.

Approximately 48% of households in the San Diego metro area are renters, according to Redfin, a figure only surpassed by San Jose, Los Angeles and Orange County, and New York.

BNN's Perspective: The data paints a complex picture of San Diego's housing market. While the older homeowner demographic may reflect a desirable quality of life for some, it also underscores the challenges faced by younger generations seeking homeownership. Addressing affordability and wage stagnation will be crucial to ensuring a balanced and sustainable housing market for the future.

Keywords: San Diego, homeowners, age, housing market, LendingTree, renters, homeownership, affordability, real estate, economic trends, median home price, Prop 13, inflation, unemployment, Demographia International Housing Affordability, wages, cost of living

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