First-Time Homebuyers Hit Record Age of 40 as Affordability Crisis Deepens

The American dream of homeownership is slipping further out of reach. The typical first-time buyer is now 40 years old—a record high and a stark contrast to the late-20s median age seen in the 1980s. Soaring mortgage payments, crushing student debt, and relentless rent inflation have collectively delayed this rite of passage by over a decade.

Housing affordability has collapsed under the weight of 6-7% mortgage rates and post-pandemic price surges. The Federal Reserve Bank of Atlanta reports median monthly housing costs have nearly doubled since 2020 to $3,106—eclipsing wage growth and forcing younger generations to postpone ownership until their peak earning years.

This demographic shift signals structural economic fractures. What was once a universal milestone now resembles a luxury good, with cascading effects on wealth accumulation and family formation. The National Association of Realtors' findings underscore how financial headwinds are rewriting the traditional lifecycle of major purchases.