Baby Boomers Dominate Family-Sized Home Ownership in Five U.S. Cities
A Redfin analysis of 2024 Census data reveals that baby boomers own the largest share of family-sized homes in five U.S. metropolitan areas, and they are not moving out. The cities where boomers hold the most ownership of three-bedroom-plus homes are: Pittsburgh, Pennsylvania; Buffalo, New York; Cleveland, Ohio; Milwaukee, Wisconsin; and Detroit, Michigan. In these metros, boomers own between 40% and 45% of such homes. The trend reflects a broader pattern of aging homeowners staying put, limiting inventory for younger families. Redfin's ranking covered 50 metros, highlighting the impact of empty-nest boomers on the housing market.
Key facts
- Redfin ranked 50 U.S. metros using 2024 Census data.
- Baby boomers own the most family-sized homes in five cities.
- The top five cities are Pittsburgh, Buffalo, Cleveland, Milwaukee, and Detroit.
- In these cities, boomers own 40% to 45% of homes with three or more bedrooms.
- Boomers are not moving out of these large homes.
- The trend limits housing inventory for younger families.
- Pittsburgh is the metro with the highest boomer ownership of family-sized homes.
- The analysis focuses on empty-nest boomers.
Entities
Institutions
- Redfin
Locations
- Pittsburgh
- Pennsylvania
- Buffalo
- New York
- Cleveland
- Ohio
- Milwaukee
- Wisconsin
- Detroit
- Michigan
- United States
Sources
- Quartz —